QFZ Attracts $1bn Foreign Investment in a Year

Date: 21 February 2024 - 22:35

News ID: ۱۲۴۹۲۴

TEHRAN – The chief executive of Iran’s Qeshm Free Zone (QFZ) Adel Payghami said that $1 billion worth of investment within the framework of the Foreign Direct Investment (FDI) has been attracted in the free zone in a year.
Payghami said the QFZ has entered the arena of the international economy, and one of its important functions is ‘economic diplomacy’, he highlighted.
He said the performance of the free zones in the country has improved since the administration of President Ebrahim Raisi assumed office in August 2021.
Giant steps have been taken in the current administration in the free zones in line with realizing their objectives, he added.
Emphasizing that Qeshm Island is considered one of the most important free zones in Iran in cultural and trade terms, Payghami noted that a sea-based economy can play a pivotal role for the Qeshm area in the field of logistics economy.
As a Business-to-Business (B2B) communications and business hub in the Shanghai Treaty, Qeshm Island has managed to move forward in the arena of global economic communications following a memorandum of understanding (MoU) inked between the Qeshm Free Zone and TEMP Platform, the CEO of the zone added.
Several MoUs, valued at $1 billion, have been concluded in the Qeshm Free Zone in the past year within the framework of the FDI, he said, adding that these investments have been made in the fields of sea-based economy, oil, energy, and petrochemical fields.