SEMNAN -- Head of Iran's Touring and Tourism Organization (ITTO), Mohammad Mo'ezeddin, said here Wednesday that a credit of Rls.200-500 billion will be allocated to the private sector within the current Iranian year (started March 21) to expand lodging facilities.

Addressing IRNA, he added that the private sector should, meanwhile, spend 4-5 times the allocated credit to materialize the said project.

"Given that the participation share of the state and private sector in Iran's National Tourism Development Plan has been determined, an annual national credit worth Rls.2,000 billion will be allocated to tourism in the First Five-Year National Tourism Development Plan," he added.

According to him, the Rls.4,000 billion credit extended to the private sector should be allocated to tourism projects.

Mo'ezeddin pointed to the regulations drawn up by the tourism industry on the attraction of domestic and foreign investment, which is undergoing its final stage, and said that the related by-law is due to be ratified by the cabinet yesterday, reported IRNA.

"Iranian investors residing overseas have warmly welcomed the opportunity to make investment in Iran," he added.

Referring to the visit of 1.4 million foreign tourists to Iran within the past year, he predicted the same number of visitors in the current year.

He underlined that despite the September 11 terrorist attacks on the U.S. and its negative effects on tourism, Iran's status in this respect is not worse than the previous year.

Mo'ezeddin pointed to the great appeal of Iran to tourists from Arab states and hoped that the same trend will continue in the current year.

According to him, the survey shows that the number of tourists visiting Iran in the first quarter of the current year has been satisfactory. He added that last year's hard currency revenue through tourism amounted to one billion dollars.

Deputy Head of ITTO Nasrollah Mostofi referring to the number of the visiting domestic and foreign tourists, which are 32 million and 1.4 million respectively, said that they create over 500,000 job opportunities.

Since the outset of the National Tourism Development Plan, which was effected as of March 21, 2002, the related departments have been assigned with the planned programs and the required credits will soon be extended.

"Given that currently the average length of the visits of the foreign and domestic tourists is five and three days respectively, extension of their visit is one of the main goals set by the National Tourism Development Program," he added.

According to him in the Persian Gulf states the length of the visit of tourists ranges between 20 and 25 days.

He added that once the set goal is materialized, the figure will boost remarkably.