TEHRAN Dozens of letter of understanding worth more than $100 million has been signed for investment in the Chabahar Free Trade Zone (CFTZ) by foreign investors in the past two months, Head of the CFTZ, Ali-Reza Shirani told here yest Shirani who was talking to the press however said that it is not clear yet what percentage of the letters of understanding signed will spell into practical investment in Chabahar. He noted that some Rls.704 billion has been invested by the local investors in CFTZ in the past two months.

The official told that the investors who start construction of industrial units, among the others intermediate and packing industries, in the CFTZ from now up to the end of the year 2000 will enjoy special facilities. Complete customs taxation exemption, CFTZ's tax exemption for importing machinery and raw material for fifteen years, a 50-percent discount on buying land for setting up industrial units and getting telephone subscription within two days are among the fa Terming the status of the CFTZ for absorbing foreign investment as significant, taking into consideration the possibility of communication with the Economic Cooperation Organization (ECO) and the Southeastern Asian states, he termed the CFTZ as a gate to Elsewhere he said that in the ten month to January 20, 99, some $30.2 million of raw material as well as $22.5 million worth of home appliances were imported to CFTZ.