BAKU, Azerbaijan, Mar. 4
By Elnur Baghishov – Trend:
The value of equipment and raw materials imported to the Arvand Free Trade Zone in the Khuzestan Province (southwestern Iran) has increased by 69 percent since the beginning of the current Iranian year (March 20, 2020), compared to the same period last Iranian year, Deputy Chairman of Business Development and Investment of Arvand Free Zone Organization, Ali Mousavi said, Trend reports citing the organization’s website.
According to Mousavi, more than $460 million worth of equipment and raw materials were imported to the zone during the reporting period.
Mousavi added that while in the last Iranian year (from March 21, 2019 through March 19, 2020), $272 million worth of equipment and raw materials were imported to the zone.
The deputy chairman noted that domestic production has been fully supported in the Arvand Free Trade Zone in the current year. In this regard, the import of equipment and raw materials has been simplified for enterprises.
Iran's Arvand Free Trade Zone is located on an area of 37,400 hectares between the cities of Abadan, Khorramshahr and Minushahr in Iran's Khuzestan Province.
A total of $51 million worth of foreign investments were made in the Arvand Free Trade Zone over the first nine months of the current Iranian year (March 20 through December 20, 2020). These investments were made by China, Turkey and Iraq.
About 190 manufacturing companies are operating in the zone. In general, $1.27 billion worth of non-oil products were exported from the Arvand Free Trade Zone within 9 months.
