Managing Director of Kish Free Trade Zone

Managing Director of Kish Free Trade Zone said here Wednesday 1000+% growth in investments in non-industrial businesses here and 165 percent growth in industrial sectors proves that sanctions have been quite ineffective at least in Kish FTZ development plans.

According to IRNA Economic Desk reporter in Kish, Mohammad-Ali Mohebbi who was speaking at a press conference participated by a large number of foreign media reporters, added, “The new policies to be applied in the KFTZ include the establishment and expansion of appropriate infrastructure facilities for economic activities at this beautiful island, that have been made possible relying on heavy Iranian and foreign investments.”

He referred to the signing of the contract for the country’s hugest investment project in Kish, namely the Persian Gulf Beach Township whose value is 60.000 billion rials (about 6 billion US dollars) between the KFTZ and the investors of the private sector as an example.

Mohebbi added, “This project includes construction of vast scale recreational facilities, five and six star hotels, residential sites, shopping malls, sport complexes and… focusing on expansion of the island’s tourist attraction, whose entire contracts have been signed during the past few months and its location is on the west side of the Kish Island.”

Mohebbi also referred to the 1018 percent increase in the non-industrial and the 165 percent growth in the industrial investments in Kish during the past six months compared to the same period last year, emphasizing, “Such growth is a good sign for the ineffective nature of the imposed sanctions and the acceleration of the economic activities at Iran’s Kish Island, relying on the investments of the state sector, and the Iranian and the foreign private sector investors.”

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