BAKU, Azerbaijan, Nov. 9
By Elnur Baghishov – Trend:
A total of $50 million worth of foreign investments have been made to the Arvand Free Trade Zone in the Khuzestan Province (southwestern Iran) since the beginning of the current Iranian year (March 20, 2020), Deputy Chairman of Business Development and Investment of Arvand Free Zone Organization, Ali Mousavi told IRNA, Trend reports.
Mousavi emphasized that the volume of foreign investments made to the Arvand Free Trade Zone increased by $2 million compared to the same period last Iranian year.
“Despite US sanctions against Iran, as well as the spread of the coronavirus pandemic around the world, the volume of foreign investments made to the Arvand Free Trade Zone is growing,” he added.
The deputy chairman noted that about 12 trillion rials (about $286 million) worth of local investments have been invested to the free trade zone during the reporting period. This an increase of 48 percent compared to the same period last Iranian year. Thus, 8 trillion rials (about $190 million) worth of local investments were invested to the zone over the same period last Iranian year.
According to him, the largest volume of investments were made in various industries, manufacturing, trade, landscaping and services sectors.
Mousavi said that so far, 13 manufacturing and industrial enterprises have been launched in the zone, and the number of these enterprises is forecasted to reach 20 by the end of the current Iranian year (from March 20, 2020 to March 21, 2021).
