59789
Mohammad Reza Nematzadeh (L) meets Mohammad Shiya al-Sudani in Baghdad on Feb. 14.
Economy, Domestic Economy

Iran to Build Industrial Townships in Iraq

Iran has agreed to design and build industrial townships in a number of provinces in Iraq.
The deal will help unlock investment from within the war-torn country, Iran’s Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh said during a visit to Baghdad on February 14, Fars News Agency reported.
The minister said Iran would begin with several pilot projects, for which it would also supply industrial equipment and investment.
Welcoming the news, his Iraqi counterpart, Mohammad Shiya al-Sudani, said the construction of industrial townships was among the country’s priorities.
“Given Iran’s experiences in the construction of such townships, Iraq is willing to cooperate with Iran in this field,” he said.
Building industrial townships to attract investment in manufacturing is a popular strategy pursued by many developing countries.
Iran has already built 750 such townships and estimates that they host 40,000 factories and plants, according to Global Construction Review.
India is also relying on such projects to industrialize while avoiding problems with setting up factories in urban centers. Industrial townships also help attract foreign investment. At the end of 2015, Japan announced plans to double its investment in India by setting up 11 industrial townships, each with around 30 Japanese factories, all of which are eligible for special tax incentives. 

Short URL : https://goo.gl/9IJd9U
  1. https://goo.gl/BTuvhF
  • https://goo.gl/ruLKeH
  • https://goo.gl/D2QQpd
  • https://goo.gl/whWp0E
  • https://goo.gl/JyHQzj

You can also read ...

Forex Rates Jump After Gov’t Stops Cheap Currency Allocation
Foreign exchange rates in the unofficial market registered...
Int’l Airlines’ Presence in Iran Boosted After JCPOA
A total of 51 foreign airlines are now operating in Iran, up...
Facebook Lures Google Engineer to Head Its Own Chip Development
Facebook Inc. has sent another signal that it is serious about...
US Confiscates 500 Iranian Bitcoins
The US federal government confiscated at least 500 Bitcoins...
Export Billet Prices Increase on Reduced Availability
Iranian export billet prices increased by $5-10 per ton over...
Platform to Promote FATA-IFA Interactions
A new platform has been launched to facilitate interactions...
New MacBook Features Dust-Repelling Keyboard
Apple’s new MacBook Pro keyboards are slightly quieter than...
The private sector completed the construction of 52,081 buildings in H1 2017-18 across all urban areas
The latest data disclosed by the Central Bank of Iran show...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus