Iran Aims to Attract Substantial Domestic Investment for Makran Coast Development
(MENAFN) Ali-Akbar Safaei, the Head of Iran's Ports and Maritime Organization (PMO), has unveiled a comprehensive plan to attract domestic investment totaling 200 trillion rials (approximately USD391.5 million) for the development of the southeastern Makran Coast. In line with this initiative, Safaei reported that the private sector has already invested over 110 trillion rials (about $215 million) in the region, including Iran's small ports. These investments signify a significant commitment to boosting economic growth and infrastructure development in the area, as reported by IRNA.
Safaei also highlighted the positive steps taken in the foreign investment sector, expressing optimism that these measures will yield favorable outcomes in the near future. By actively engaging both domestic and foreign investors, Iran aims to unlock the immense potential of the Makran Coast and capitalize on the region's strategic location and economic opportunities.
The Makran region, extending from the mountains west of Jask to parts of Pakistan's Balochistan province along the Sea of Oman, holds historical significance in Iran. Recent endeavors have focused on the construction of essential maritime and commercial infrastructure in various districts of Makran, with particular emphasis on the Chabahar port. Serving as a critical trade route between the Indian Ocean and landlocked nations in Central Asia, the development of Chabahar port plays a pivotal role in facilitating regional trade and connectivity.
In November 2022, President Ebrahim Raisi emphasized the urgent need for rapid development along the south and southeastern shores of Iran, collectively known as the Makran coastline. Recognizing the potential of this relatively underdeveloped region, Raisi called for comprehensive plans and joint efforts by the government and private sector to accelerate its growth. The President's endorsement underscored the strategic importance of the Makran coastline as a catalyst for economic advancement and regional integration.
By attracting significant domestic investment, Iran aims to enhance the economic infrastructure, trade capabilities, and connectivity of the Makran Coast. The planned development projects in the region present promising opportunities for investors seeking to participate in Iran's economic expansion. The government's focus on both domestic and foreign investment underscores its commitment to fostering sustainable economic growth, creating employment opportunities, and unleashing the untapped potential of the Makran Coast.
As the Makran Coast development initiatives progress, Iran anticipates increased economic activity, improved regional cooperation, and strengthened trade relations with neighboring countries. The comprehensive plan to attract domestic investment reflects Iran's determination to harness the economic potential of the Makran region, positioning it as a vibrant hub for trade, investment, and prosperity.
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