Jolfa free trade-industrial zone was inaugurated in a ceremony Tuesday attended by Iran's President, Mohammad Khatami.
The main objectives of establishing Jolfa free trade zone are to attract local and foreign investment, create jobs, promote export and transit of goods through the zone as well as its economy.
According to IRIB, about 250 billion Rials has been invested in Jolfa zone, of which the private sector contributed 150 billion Rials.
The remainder was provided by Omran Jolfa Co. in two phases including the preliminary phase such as land development as well as the infrastructure and feasibility studies on the second phase to be implemented in an area of 900 hectares.
In addition, a hard currency component of $2.5 million has been invested in the free zone.
A fund of 307.5 billion Rials has been allocated for developing Jolfa free trade zone in the budget for the current fiscal year by the free trade zones high council.
With a population of 60,000, the city of Jolfa is located to the northwest of the provincial capital of Tabriz on the common border with the autonomous Republic of Nakhichevan and Armenia.
Speaking at the ceremony, Khatami reiterated that his government would continue to support the development of free trade zones such as the Jolfa FTZ.
© 2004 Mena Report (www.menareport.com)
