East Azarbai­jan Prov­ince At­tracts $36m in For­eign In­vest­ment

Iran News - - DOMESTIC -

TEHRAN - East Azarbai­jan Prov­ince has at­tracted $36 mil­lion in for­eign in­vest­ment since March 2017, ac­cord­ing to a lo­cal trade of­fi­cial.

Reza Hos­seini, the prov­ince’s Gen­eral Man­ager for Econ­omy and Fi­nance, says as part of a large de­vel­op­ment plan to at­tract for­eign in­vest­ment, the of­fi­cials in East Azarbai­jan have man­aged to at­tract $36m in for­eign in­vest­ment dur­ing the first half of the cur­rent Ira­nian cal­en­dar (which started in March). “The in­vest­ments have been made mainly in car man­u­fac­tur­ing, gold ex­plo­ration projects, yarn and ADF pro­duc­tions,” he noted.

The of­fi­cial went on say­ing that the Econ­omy and Fi­nance Ad­min­is­tra­tion of East Azarbai­jan made 120 in­vest­ment sur­veys in the prov­ince in­clud­ing in­fras­truc­tural and knowl­edge-based projects and agri­cul­tural and coal fields.

“The mar­ket­ing process for pro­vin­cial plans has been or­ga­nized by Iran’s For­eign Min­istry in co­op­er­a­tion with joint com­mer­cial coun­cils and cham­bers of com­merce. Then the plans have been of­fered to do­mes­tic and for­eign in­vestors,” he noted.

Hos­seini added the lo­cal of­fi­cials are in con­tact with over 70 do­mes­tic in­vestors. “On the other hand, at least nine for­eign del­e­ga­tions from In­done­sia, Turkey, Ger­many and Poland have sub­mit­ted their re­quests to in­vest in the prov­ince,” he noted.

Hos­seini also said legal pro­ce­dures are un­der­way to is­sue cer­tifi­cate for an in­vest­ment of at least $54 mil­lion to es­tab­lish three small power plants with a ca­pac­ity of pro­duc­ing 49mw elec­tric­ity in the prov­ince. “Mean­while, ar­range­ments are made to es­tab­lish a wind and so­lar farm with an in­vest­ment of $45m.”

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