News ID: 188651
Published: 0647 GMT March 03, 2017

10 European, Asian states invest in Arvand Free Zone: Official

10 European, Asian states invest in Arvand Free Zone: Official

Deputy head of the Arvand Free Zone Organization in southwestern Iran announced that 10 European and Asian countries have invested in the zone.

Mohammadreza Motamedi said Arvand Free Zone drew foreign investments to the tune of $105 million in sectors such as food industry, wind power plant and chemicals, Tasnim News Agency reported.

He added that in the past year, 10 countries, including Turkey, Pakistan, India, France, Kuwait, Britain, Austria, China, Germany and Iraq, invested in the zone.

Foreign investments in Arvand Free Zone, he pointed out, have increased since the implementation of Joint Comprehensive Plan of Action (JCPOA) — the July 2015 nuclear deal between Iran and world powers.

Arvand Free Zone, which is located along the Persian Gulf, extends over an area of 172 square kilometers and lies on the borders with Iraq and Kuwait.

Motamedi's remarks come against the backdrop of a new wave of interest in ties with Iran after Tehran and the P5+1 (Russia, China, the US, Britain, France and Germany) reached a conclusion over the text of a comprehensive 159-page deal on Tehran's nuclear program on July 14, 2015 and started implementing it on January 16, 2016.

The comprehensive nuclear deal terminated all nuclear-related sanctions on Iran.

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