BAKU (Trend) - Conditions have been created for Chinese investors to operate in the Incheh Borun Free Trade Zone in Iran’s northeastern Golestan province, the provincial governor said.
Golestan Governor Ali Asghar Tahmasbi made the remarks during a meeting with Chinese investors on Monday, according to the Golestan provincial government.
Tahmasbi said all available investment opportunities are being presented to investors, who can initially operate in logistics and, at a later stage, engage in imports and exports through the Incheh Borun Free Trade Zone.
Chinese investors currently export goods from China to Iran, the governor said. At the same time, they are expected to export goods from Iran to China and Kazakhstan.
“In the first stage, Chinese investors’ investment amounts to $100 million. This figure is expected to increase to $1 billion,” he said.
Tahmasbi said the opportunities created by Chinese investors could allow businesses in Iran, including those in Golestan province, to engage in the import and export of various types of goods.
Iran is taking a number of steps to turn the Incheh Borun border terminal in Golestan province into a logistics hub.
On September 8, documents were signed for investments by Russian and Kazakh investors in the Incheh Borun logistics center. The investments covered by the agreements are expected to total 300 trillion rials, or about $185 million.
Speaking at the signing ceremony, Iran’s Minister of Roads and Urban Development Farzaneh Sadegh said Incheh Borun is not simply a border terminal but a strategic gateway for Central Asian and European countries.
Incheh Borun could serve as a hub for freight shipments from China to Iran and from Iran to Europe, creating new opportunities for regional trade and transit.