Iran declares foreign investments made in Arvand Free Trade Zone

Finance Materials 19 January 2021 14:03 (UTC +04:00)
Iran declares foreign investments made in Arvand Free Trade Zone

BAKU, Azerbaijan, Jan. 19

By Elnur Baghishov – Trend:

A total of $51 million was invested in the Arvand Free Trade Zone in the Khuzestan Province (southwestern Iran) during the first nine months of the current Iranian year (March 20 through December 20, 2020), Deputy Chairman of Business Development and Investment of Arvand Free Zone Organization, Ali Mousavi said, Trend reports citing the organization’s website.

According to Mousavi, these investments were made by China, Turkey and Iraq.

Mousavi added that currently, 190 manufacturing companies are operating in the zone. This figure is expected to increase to 200 companies by the end of the current Iranian year (until March 21, 2021).

The deputy chairman emphasized that 1,500 jobs have been created in the Arvand Trade Zone in the current Iranian year.

“In general, $1.27 billion worth of non-oil products were exported from the Arvand Free Trade Zone within 9 months. While in the last Iranian year (from March 21, 2019 to March 20, 2020), a total of $1.22 billion worth of products were exported from this trade zone,” he said.

The official also noted that the exported goods were mainly fish products, mining materials, food products, fruits and vegetables, steel and construction materials and etc. These products were mainly exported to Iraq and the countries around the Persian Gulf.

Iran's Arvand Free Trade Zone is located on an area of 37,400 hectares between the cities of Abadan, Khorramshahr and Minushahr in Iran's Khuzestan Province.