TEHRAN, Iran, Aug.26
Trend:
Around $142 millionwas invested by Maku Free Zone in West Azerbaijan Province, which is expected to become the biggest free zone in the country, for development of projects, said the Managing Director of Maku Free Zone Organization, Mohammadreza Abdolrahimi, Trend reports citing IRNA.
"Since 2013, as part of a development plan, the government created a transportation infrastructure that included highway, a modern airport, industrial cities as well as the construction of a power plant. Furthermore, there are plans for railway construction," Abdolrahimi said.
"The government has created opportunities for investment and job creation in the zone," he said.
"Transportation, agriculture, fishery, construction stones, mineral mines, downstream industry, and tourism are some of the industries that will be operating at Maku Free Zone," he said.
"Easy access to energy and cheap labor as well as 20-year tax exemption for economic activities are the most noticeable advantages of the zone," he said.
"Total of $40 million has been invested in the establishment of an airport as part of transportation development. Additionally, the construction of the highway from in Maku Free Zone to Bazargan border crossing has cost $40 million and 85 percent of the project has been completed," he said.
"Other projects include road developments between Mergenler city in Showt County to Poldasht in Poldasht County, in addition to the development of rural roads and the logistic road to Bazargan border crossing,"
"Moreover, there are ongoing discussions on connecting rail tracks to Turkey and Europe as part of transportation expansion," he said.
"Total of 108 production units have begun their operations since 2013. Foreign investment in the zone was $200 millionand domestic investment equaled $297 million," he said.