Latest data released by the Ministry of Industries, Mining and Trade detailing the volume and number of industrial permits issued during the first nine months of the current Iranian year (March 21-Dec. 21) show Khuzestan and Bushehr, both in southern Iran, were at the forefront of Iran's 32 provinces in terms of investment attraction.
According to the data, more than 214.67 trillion rials ($1.39 billion) worth of investments are expected to be made in Khuzestan Province where 725 establishment permits were issued during the period.
The investment volume and number of permits saw a 39.7% decrease and 17.1% increase respectively compared with the similar period of last year.
Khuzestan was followed by Yazd and Kerman provinces with $1.22 billion and $1 billion respectively in the volume of investments in establishment projects.
Around 74.47 trillion rials ($483.61 million) worth of investments are estimated to have been made in Bushehr’s operational projects for which 29 permits were issued by the ministry during the nine months under review. The above figures indicate a 2,094% and 31.8% growth respectively, year-on-year.
For instance, Bushehr Petrochemical Company, which produces coke and oil derivatives, is estimated to have attracted the highest amount of investment in the southern province ($329.24 million). The project is expected to generate 880 jobs.
Khorasan Razavi and Isfahan provinces followed Bushehr with $174.07 million and $161.74 million in the estimated volume of investment in operating projects respectively.
More than 2.21 quadrillion rials ($14.4 billion) worth of investments are expected to be made in the industrial units with establishment permits during the period, as more than 406 trillion rials ($2.63 billion) are estimated to have been invested in industrial projects for which operating licenses were issued from March 21 to Dec. 21.
The investment volumes show a respective decline of 7% and 11.5% compared with the similar period of last year.
A total of 19,852 establishment permits were issued over the nine months under review, registering an 18.3% growth year-on-year. These projects are expected to create a total of 455,237 jobs, which are 14.7% more compared with last year's corresponding period.
Some 220 of these projects are located in free trade and special economic zones.
A total of 4,587 operating licenses were issued during the same period, which shows a 4.9% growth YOY. These projects are expected to create 72,751 jobs, 6.6% less compared with last year's corresponding period.
The number of greenfield projects for which operating licenses were issued stood at 2,400, some 170 of which were for those located in free trade and special economic zones.
The remaining 2,187 permits were issued for brownfield projects, 106 of which were located in FTZs and special economic zones.
