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Foreign firms plan investment in Iranian province

IRAN, November 24, 2015

Chinese, South Korean, Italian and Swedish companies are planning investment in 10 industrial projects located in the western province of Ilam in Iran, a report said.

A preliminary memorandum of understanding (MoU) has also been signed to this effect, Mohammadreza Morvarid, the provincial governor-general, was quoted as saying in an Iran Daily report.

He added that provincial officials are doing their best to facilitate the participation of foreign investors in projects and prepare the ground for their increased presence.

He said that Majlis will soon approve a bill to turn Mehran county into a free trade and economic zone, following which the region's economy will witness an upturn.

Morvarid added that Mehran, in the southwest of the province, will facilitate goods trade and economic activities of foreign investors in the region once it is turned into a free zone.

He said that they are planning to establish branches of foreign banks and construct an airport in the proposed zone, and in the past few days, have signed a number of economic deals with three neighbouring Iraqi provinces.

He noted some 24 out of the 36 development projects, approved by President Hassan Rouhani during his visit to Ilam last year, are expected to become operational by mid-March, 2016.




Tags: | Iran | investment | company | foreign |

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