BAKU, Azerbaijan, April 19
By Elnur Baghishov - Trend
Around 73.5 hectares of land have been handed over to investors at the Aras Free Trade and Industrial Zone of East Azerbaijan province in northwestern Iran in the last Iranian year (from March 21, 2019 to March 20, 2020), said Vahid Moghaddamzadeh, an official of Aras Free Trade Zone, Trend reports citing IRNA.
According to Moghaddamzadeh, about 12.5 hectares of land were handed over to investors in the preceding year (from March 21, 2018 to March 21, 2019).
The territory of the Aras Free Trade and Industrial Zone is more than 71,800 hectares. As much as 58.5 trillion rials (about $1.39 billion) of local investment and $208 million of foreign investment were invested in the zone in the last Iranian year. Some 162 investment projects were approved in the zone last Iranian year. About 158 of them are local investments and 4 are foreign investment projects.
Investment projects are in the industrial, agricultural, tourism and services sectors.It is projected that 4,800 people will be employed with the development and commissioning of these projects.