People, Travel

Incentives for Investment

Incentives for InvestmentIncentives for Investment

The government provides incentives to encourage private enterprises to fund tourism projects and help the nascent travel sector grow, but enlisting private investors is a grand task that requires the aid of all relevant entities, including municipalities.

Speaking to reporters on Saturday, Saeed Shirkavand, deputy for planning and investment at Iran’s Cultural Heritage, Handicrafts and Tourism Organization, said government’s incentives, which include loans, are essential to developing the industry.

“We need to find ways to encourage private investors and not create an atmosphere that would chase them away,” he was quoted as saying by IRNA.

The official noted that projects that are more than 30% complete receive priority in the government’s loan program.

“Municipalities and other relevant organizations can take take steps to attract investment,” he added, urging municipalities to cut the red tape in issuing construction permits.

Construction of hotels, restaurants, international banking services, travel agencies, eco-lodges and all types of recreational facilities have had a noticeable growth in the past three years, but a lot more is needed.

Iran’s stated aim is to draw 20 million tourists a year by 2025, which seems like a lofty goal given the country’s current 5.25 million annual visitors.