Annual investment attracted in Chabahar Free Zone up 322%

September 15, 2021 - 14:5

TEHRAN – The deputy managing director of Chabahar Free Zone Organization (CFZO) has said over 51.34 trillion rials (about $1.27 billion) of investment has been attracted in Chabahar Free Trade-Industrial Zone in the previous Iranian calendar year 1399 (ended on March 20), registering 322 percent rise year on year.

According to Mohammad Hodaei, some 12.68 trillion rials (about $301 million) of investment was made in the mentioned zone during the Iranian calendar year 1398 (ended in March 2020), IRNA reported.

The official mentioned continuous monitoring and support by the CFZO, the change in the viewpoints of the investors, and the presence of major industries like steel and petrochemicals in the zone as major factors contributing to the increase in the volume of investment in the Chabahar zone.

“Realized investment index is one of the major indicators that are evaluated in assessing the performance of an economic entity,” Hodaei said.

“The outlook for the next three years in Chabahar will be a very bright one, and we hope that at that time the minimum value of products exported from Chabahar Free Zone will reach more than three billion dollars a year,” the official said.

Back in November 2020, the managing director of the Chabahar Free Zone Organization had said that through the implementation of development programs, this organization was preparing the ground for the attraction of investors.

Abdul-Rahim Kordi said these programs are creating trust for the investors in the zone.

“Through implementing railway, gas-supplying, and port development projects in Chabahar, we will soon witness great development of the zone”, the official noted.

Lying on the coast of the Gulf of Oman in Iran’s southeastern Sistan-Baluchestan Province, Chabahar is the country’s only oceanic port and given its strategic location in the International North-South Transport Corridor (INSTC) development of the port is of high significance for Iran, so the government has some major projects to create multi-dimensional transportation facilities in this port.

The port has two significant docks, namely Shahid Beheshti and Shahid Kalantari, which are mostly referred to as ports, i.e. Shahid Beheshti Port and Shahid Kalantari Port.

Development of Shahid Beheshti Port, construction of Chabahar International Airport, and building Chabahar-Zahedan (center of Sistan-Baluchestan Province) railway are three of the major projects to make Chabahar a complete logistics platform.

In addition, Chabahar Free Zone has been suggested as a transit and logistic gateway for Iran's domestic market which, while reducing the cost and time of transportation it has also provided profitable economic opportunities in the development of logistics facilities.

Chabahar Free Zone is a multi-purpose zone with educational, industrial, tourism and transportation sectors.

EF/MA

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