Austrian Delegation Briefed on Kish Investment Opportunities

Kish Island, September 19, 2016- Austrian embassy's commercial attaché has described Kish Island as Iran's most renowned investment hub in the international arena.

According to the Public Relations and International Affairs Department of Kish Free Zone Organization, Dr. Georg Weingartner, the commercial attaché of the Austrian embassy, along with a trade delegation met with the head of KFZO investment affairs department and were briefed on investment opportunities in the Persian Gulf island.

During the meeting, the commercial attaché of the Austrian embassy described the Persian Gulf island of Kish as the most internationally renowned trade hub in Iran. He described Kish island as a unique tourist destination and said many Austrian companies are eager to learn about investment potentials and opportunities in Kish to devise a precise investment plan in this regard.

He also pointed to Austrian president's recent visit to Iran and said over 200 Austrian companies accompanied him during the visit. He said Austria is ready to invest in Kish in areas related to petrochemical, medical and industrial equipment as well as tourism sector.

He also voiced hope that banking operations and money transfer would be facilitated in all of Iran's free trade zones particularly Kish Free Zone following the removal of anti-Iran sanctions. The Austrian official also described Halal tourism as a great investment opportunity.

Meanwhile, Shiirzad, the head of KFZO Investment Affairs Department pointed to diverse advantages of investment in Kish for foreigners including 20-year tax exemption, legal support for foreigners' investment as well as widespread banking and insurance services as advantages of foreign investment in Kish.

"Kish Free Zone is independent of the mainland and is run under the specified regulations of  Iran's free trade zones which have already facilitated Investment and reduced state bureaucracy so that foreign economic activists can set up their own company in Kish within a week and there is no limitation for engineers and experts from different countries," Shiirzad reiterated.

He also said Kish Free Zone supports investors who seek to establish a factory in Kish by supplying them with low-interest loans and other required facilities including land.

The KFZO official also said that Kish Island, given its strategic location and independent gas field, has already paved the way for the presence of oil companies and will soon turn into a major center for oil giants from around the globe.

Shiirzad also described investment in Kish real estate sector as profitable saying investment profit in this sector has witnessed a 50-fold increase during the past 20 years.

He also said money transfer has been facilitated following the removal of sanctions against Iran and foreign companies can carry out their activities via interaction with private banks in Iran.

Shiirzad also said tourism in the region will be further boosted after the Persian Gulf Island of Hendurabi becomes fully operational. Once Hendurabi is developed, the KFZO official said, Kish Island will turn into a MICE (Meetings, Incentives, Conferences, Events) hub in Iran.

He said there are 47 hotels in Kish Island and 41 new hotels are under construction in Kish.

During the meeting with KFZO officials, the members of the Austrian delegation voiced their readiness to participate in Kish 2016 Foodex exhibition and the conference on marine industries to be held in Kish island in coming weeks.

PR & Int'l Affairs Department- KFZO