TEHRAN – Razavi Business Company, affiliated with Astan Quds Razavi, has begun cooperation with the Sarakhs Free Trade-Industrial Zone in northeastern Iran to provide financing, business consultancy and investment support to companies operating in the border zone.
Mahdi Hatami, CEO of Razavi Business Company, said the cooperation will provide business development and financing services to companies based in the Sarakhs Free Zone.
As part of the initiative, a platform was introduced at a gathering of economic operators in the free zone titled “Introducing Crowdfunding Capacities and Economic Incentives,” allowing businesses and economic actors to become familiar with the potential of this modern financing method, he said.
Hatami said expanding cooperation with the Sarakhs Free Zone could play an effective role in boosting investment and production. He added that the company expects to contribute to the economic development of the zone by serving as one of its business consultancy providers.
He stated that the company’s presence in Sarakhs will take the form of a “Business Clinic,” through which companies will receive advice on selecting the most suitable financing tools as well as specialized services in taxation, insurance and social security, financial structures and other areas related to improving and developing the business environment.
The Sarakhs Special Economic Zone in northeast Iran will be connected to Bazargan Customs and Maku Free Zone in the northwest of the country as part of the East-to-West Transport Corridor.
CEO of the Maku Free Zone Hossein Garousi has said that the Sarakhs Special Economic Zone will soon be connected to Bazargan Customs and Maku Free Zone.
He put the current volume of products imported into Iran’s free zones at $3 billion.
There are more than 4,500 free zones in the world, 1,500 of which have been set up since 2015, he stated.
Under a bylaw approved at the Iranian Parliament last week, three new free zones will be set up in the country, and this shows that free zones have been successful in realizing their objective, Garousi stated.
He pointed to facilitating trade and transit and connecting the Asian continent to Europe as the advantages of free zones in the country’s west and added that no free zone except Maku has diversified mines.
He also highlighted the role of this zone in boosting food security through Aras River and Aras Dam Lake and also raising organic products and noted that a 2,200-hectare garden will be constructed in the zone which will be unique in its kind in the Middle East.
“We are also pursuing the development of airport and road- and rail network,” Garousi added.