Foreign investments in Iran's Maku Free Trade Zone reach $120M
Baku, Azerbaijan, July 3
By Elnur Baghishov - Trend:
To date, $119.4 million of foreign investments were made in Maku Free Trade Zone of Iran's West Azerbaijan province, Deputy Director at the Free Trade Zone Ebrahim Jalili said, Trend reports via IRNA.
Moreover, seven trillion rials (roughly $166 million) of domestic investments have been also made in the Free Zone, Jalili said. Thanks to the foreign and domestic investments in the zone, 2,910 people have been employed, he added.
Presently, licenses have been issued for the implementation of 114 industrial projects and 101 projects are already operational, he noted.
Some 685 billion rials of the investments have been invested in the Zone's mine sector, which employs 1,390 people, the deputy director said.
Maku Free Trade Zone covers an area of 5,000 square kilometers and shares 140 kilometers of border with Azerbaijan and 130 kilometers with Turkey.