Economy, Domestic Economy

$1.7b Foreign Investment in E. Azerbaijan

$1.7b Foreign Investment in  E. Azerbaijan$1.7b Foreign Investment in  E. Azerbaijan

Foreign firms have invested about $1.7 billion in East Azerbaijan Province, says the director general of the Economic Affairs and Finance Office of East Azerbaijan Province. “The $1.2-billion Tabriz-Marand-Bazargan expressway project is under construction in cooperation with a Turkish firm and the Ministry of Roads and Urban Development,” IRNA quoted Reza Hosseini as saying. A $35-million commercial, service and entertainment complex funded by an Iranian-American investor, $3.4-million steel pressure vessels and concrete block molds production plants financed by the Chinese, and a $17-million cement bags production project by an Azerbaijani investor are some of the other projects in the province, the official added. He noted that with 39 projects, Turkey is the biggest investor in the province, followed by Azerbaijan with 12 projects, Germany with four, China three, and the United States with two.