TEHRAN: Foreign Companies invested 108 million dollars in industrial, commercial and oil projects in Iran’s Arvanda Free Trade Zone, Deputy Managing Director of the Arvand Free Zone Organization, Abdollah Ka’abi, said in a statement.
Foreign investment in Iran’s Arvand Free Trade Zone, located in the southwestern province of Khuzestan, has increased 14-fold in the current Iranian calendar year, compared to the same period in the previous year.
Ka’abi said companies from Kuwait, China, the United Arab Emirates, South Korea, and Russia accounted for the lion’s share of investment.
In July 2014, Iranian First Vice President Es’haq Jahangiri said the free trade zones, which enjoy advantages such as tax exemptions and less trade barriers, are expected to be hubs for attracting foreign investment and exporting goods.
