News ID: 211440
Published: 0351 GMT March 10, 2018

Iran FTZs to attract $4.5b in foreign investment

Iran FTZs to attract $4.5b in foreign investment

Secretary of the Supreme Council of Iran's Free Trade, Industrial and Special Economic Zones said that new contracts have been signed with foreign companies to draw investments to the tune of $4.5 billion for the free trade zones (FTZs).

According to Tasnim News Agency, Morteza Bank further said on Saturday, "Investors from Turkey, China, Italy, France and South Korea have invested in Iran's free zones."

He recalled that over the past four years, foreign investment contracts valued at about $900 million have been implemented in the zones.

In December, 2017, Iran's Industry, Mine and Trade Minister Mohammad Shariatmadari said his ministry had managed to attract $2 billion in foreign investment in the 100 days since the 12th administration took office.

He said that investments had been attracted for 37 projects in the medium and small industries.

This proves that, in spite of all US pressures, in the atmosphere created after the 2015 nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), there is keen interest among other countries to invest in Iran, the minister said at the time.

There has been a new wave of interest in ties with Iran since Tehran and the P5+1 (Russia, China, the US, Britain, France and Germany) signed a 159-page deal on Iran's nuclear program on July 14, 2015 and started implementing it on January 16, 2016.

The agreement terminated all nuclear-related sanctions on Iran.

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