Qeshm Free Zone hosting conference on energy investment opportunities

January 14, 2020 - 14:37

TEHRAN – Qeshm Island in southern Iran is hosting the second specialized conference on introducing Qeshm investment opportunities in the fields of oil, gas, and petrochemicals, IRIB reported on Tuesday.

According to the Qeshm Free Zone Organization’s Director for Oil and Energy Affairs Mohammad-Javad Dehghani, this year's conference will focus on presenting solutions for financing energy projects in the sanctions era, as well as reviewing the challenges in the way of implementing such projects in Qeshm Free Zone.

Dehghani, who is also the secretary of the conference, mentioned 30 underway energy projects in Qeshm Free Zone including refinery, power plant, storage, and oil and petrochemical docks, and said such projects are going to turn the region into one of the energy hubs in the country.

According to the official, as the largest island in the Persian Gulf, Qeshm Island could benefit from huge oil and gas reserves in the region for attracting domestic and foreign investors. Therefore, Qeshm Free Zone Organization, in line with the policies of the resilient economy, plans to facilitate investment in the fields of oil, gas, and petrochemicals.

Given the legal investment incentives in the zone such as 20-year tax exemptions, customs duty, and commercial interest exemptions, issuing on-arrival visas for foreign investors, as well as unique geographical features like access to the wide regional market, proper transportation, access to skilled local workforce, all basis are provided for investors in order to contribute to the development of this strategic region, Dehghani said.

At this year’s conference, officials, executives, and experts from all over the country will discuss and explore issues pertaining to the development of the island with a focus on the oil, gas and petrochemical industries, their challenges, and opportunities, as well as ways to finance projects in the sanctions era.

EF/MA

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