BAKU, Azerbaijan, Oct.14
By Elnur Baghishov – Trend:
A total of $48.5 million worth of foreign investments were made to the Arvand Free Trade Zone in Khuzestan Province (southwestern Iran) during the first six months of the current Iranian year (March 20-September 21, 2020), Deputy Chairman of Business Development and Investment of Arvand Free Zone Organization, Ali Mousavi said, Trend reports citing the organization’s official website.
Mousavi noted that the making of foreign investment to the Arvand Free Trade Zone is considered a success for Iran, given the spread of the coronavirus epidemic in the world and Iran, and the continuation of US sanctions against Iran.
“In addition, 8 trillion rials (about $190 million) worth of local investments were made to the Arvand Free Trade Zone over the past six months,” the deputy chairman added.
Mousavi stressed that this is an increase of 44 percent compared to the same period of the last Iranian year. Thus, 5.6 trillion rials (about $133 million) worth of local investments were made in the same period last Iranian year.
According to the deputy director, these investments were mainly made to the industrial, trade, and services sectors.
The Arvand Free Trade Zone is located on 37,400 hectares of land in the northwest of the Persian Gulf.