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Germany, Italy Ready to Invest in Silk Road Sites

Germany, Italy Ready to Invest in Silk Road SitesGermany, Italy Ready to Invest in Silk Road Sites

German and Italian investors are following the footsteps of Chinese entrepreneurs by expressing eagerness to invest in Iran’s historical houses and caravansaries to reap their economic benefits.

According to the Public Relations Office at the Revitalization and Utilization Fund for Historical Sites, a German company has said that it is ready to begin with an initial investment of  €50 million (about $55 million) to restore historical sites located on the world-renowned Silk Road.

"Last week, their representative at the International Tourism Investment Conference in Tehran said they're ready to start collaborating," Mohammad Reza Pouyandeh, director of the fund, was quoted as saying by IRNA.

In a bid to help rally investors to visit Iran, the German company offered to publish a list of investment opportunities listed by the fund on its website, the news agency claimed in a report published online on Tuesday.

Officials at the fund have reportedly welcomed the offer and will present the list soon.

  Italian Experience

An Italian firm has also offered to embark on joint restoration projects on historical sites.

On the sidelines of the conference last week, representatives of an Italian company expressed readiness to provide Iran with Italy's global reputation and vast experience in restoring historical sites in a state of disrepair.

Pointing to an earlier project, a representative explained they had renovated two 500-year old buildings in Rome, which today serve as five-star hotels.

"We'll be able to do the same in Iran," the unnamed individual was quoted as saying by IRNA.

Last week, the fund announced that the China-based Eurasian Holding Company will be entrusted with temporary management, restoration and operation of 20 Iranian historical sites  located on the ancient Silk Road.

The Silk Road is an ancient network of trade routes that for centuries were central to cultural interaction across the Asian Continent connecting the West and East from China to the Mediterranean Sea.

Located in the middle of the route, ancient Persia was one of the main trade hubs along the road, serving as a gateway between the East and West.

To restore ancient buildings in a financially viable manner, the fund has initiated a plan to cede the structures to the private sector and re-designated them as hotels, restaurants and lodging places.  

The target is to cede about 100 buildings to the private sector for restoration every year, which means a total of 1,084 buildings will be ready for use by the end of the 2025 Vision Plan.


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