Economy, Business And Markets

Turkey Talks for Joint Industrial Complex

Turkey Talks for Joint Industrial ComplexTurkey Talks for Joint Industrial Complex

According to the minister of industry, mine, and trade, the preliminary examinations have been carried out to set up a joint industrial complex with Turkey in East or West Azarbaijan Province, IRNA reported.

“Attracting foreign investment as well as investment from the Iranian expatriates and protecting the neighboring countries’ investments can create a boom in the  industrial and manufacturing sectors”, said Mohammad-Reza Nematzadeh.

The minister also referred to an Iran-Turkey joint factory in Sufian in East Azarbaijan Province with a joint investment of 350 billion rials ($12.2 million based on official currency exchange rate) which produces steel radiators for buildings. He also touched upon the importance of new industrial facilities in creating employment.

The minister inaugurated a number of industrial projects in East Azarbaijan during his two-day visit to the province together with President Hassan Rouhani.

During their provincial trips, the cabinet members seek to identify and tackle the local problems in every province.

Nematzadeh added that considering the good political ties the incumbent administration has developed with the global community, foreign demand to invest in the country has significantly increased.

Experts stress that to achieve the goals set by the National 2025 Vision Plan, huge foreign investment should be absorbed particularly in the industrial sector.