Iranian gov’t eyes to invest about $476M in West Azarbaijan province

Business Materials 19 November 2018 17:03 (UTC +04:00)

Baku, Azerbaijan, Nov. 19

By Elnur Baghishov - Trend:

The Iranian government intends to invest more than 20 trillion rials (about $476.19 million) in the West Azarbaijan province after the visit by Iranian President Hassan Rouhani to the province, Head of the Iranian Presidential Administration Mahmoud Vaezi said, IRNA reported.

He said that the Iranian government is planning to invest 10 trillion rials (about $238.095 million) in the West Azarbaijan province timed to the president’s visit to the province. With the financial assistance of the National Development Fund of Iran, this figure will exceed 20 trillion rials, he added.

Vaezi added that the care for the agricultural sector in the region is an important issue. Given the availability of export opportunities in this province, this can help create employment in the agricultural sector, he said.

“There are 200 small and medium-sized enterprises (SMEs) in the West Azarbaijan province,” he noted. “Considering that the West Azarbaijan province is a border province, it was decided to hold discussions with the Turkish government on joining the Urmia railway to the Turkish railway.”