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Gilan Province Attracts $52 Million Worth of Foreign Investments

Gilan Province of Iran

Ministry of Economic Affairs and Finance announced on Saturday that Gilan Province has attracted $52 million worth of foreign investments during the last Iranian year (ended March 20, 2013). Companies from UAE, Turkey, Russia and Iraq in cooperation with local organizations have managed to invest in different fields in Gilan Province and its subsidiaries cities.

“Last year, the provincial officials held several meetings with the representatives of foreign companies willing to invest in Gilan Province. Accordingly, these companies agreed to invest some $52 million in various sectors of Gilan.” Mansour Molaeipour, Deputy Head of the Ministry of Economic Affairs and Finance, addressed a press-conference on Saturday.

“One major project is building a five-star hotel in Rasht. In recent years, the number of foreign tourists visiting this province has been increased significantly, so we need to provide enough top-notch facilities to these tourists. We expect to see more tourists in Rasht in coming years.” Molaeipour added.

He declared that Iranian government will offer its sincere supports to foreign companies ready to invest inside the country. “In near future, Iranian banks will offer loans to foreign companies operating in Iran.”

Mansour Molaeipour says Gilan Province has great chance to attract more foreign investments. “The recent rounds of sanctions on Iran’s economy, and current fluctuations in exchange markets prevent foreign companies from investing in Iran.  The next Iranian government should work out with world powers in order to lift these bans and embargoes.”

Gilan Province lies along the Caspian Sea, just west of the province of Mazandaran, east of the province of Ardabil, north of the provinces of Zanjan and Qazvin. Almost 2.5 million Iranians reside in Gilan.

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