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Investments rise in Iran's Chabahar Port

Business Materials 6 November 2019 18:28

TEHRAN, Iran, Nov.6

Trend:

Iran's Chabahar port has become important in terms of transportation and connection to other markets and has attracted more investments, said Managing Director of Chabahar Free Zone.

Abdolrahim Kordi discussed the importance of Chabahar port for the development of Iran's exports in an interview with Trend.

"Due to its special strategic situation, alongside importance of the region in transportation prices, the port has growing importance economic transactions in Chabahar Free Zone," Kordi said.

"It means all producers want to have suitable stance in the market that is a base for competition in the world's current economic situation. While there is synchronization of data and technology alongside public access to basic materials, the importance of transportation costs is a distinctive factor," the managing director added.

" Chabahar, Makran coasts and Iran in general are located in the place that is connected to Eastern and South East Asian markets, but can also be linked to Central Asia, Russia, east of Africa and Eastern Europe. Iran's route via Makran coasts and Chabahar Port is the best route in these regards," he indicated.

"The primary infrastructures have been prepared and Chabahar port has been developed as well as the Chabahar Free Zone. The railway project will be launched according to the Ministry of Road and Urban Development's schedule plan," Kordi said.

"Iran has signed a series of investment contracts in Chabahar during past three years, the number of which is more than that of the contracts signed in the preceding ten years. As for the production volumes, it increased by 20 times from $13 million in 2013 to $238 million in 2017," he noted.

"There has been strategic transformation from trade to production in Chabahar Free Zone, and the effect has become visible in production investment contracts," Kordi said.

The total amount of investments in Chabahar Free Zone increased from $15 million in 2014 to $233.8 by the end of last Iranian year (began March 21, 2018). About 20 contracts were signed in 2014, while the number of investment contracts reached 130 in last Iranian year, testifying the growing investors' interest in Chabahar.

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