According to the Public Relations and International Affairs Department of Kish Free Zone Organization, in the signing ceremony of the memorandum of understanding between Kish Free Zone Organization and Day Bank, Gholamhossein Mozaffari described the positive developments in Kish economic activities as valid for the whole country and said: "Compared to other regions of the country, Kish Island has high capacities and potentials in all fields, since lots of facilities along with well-known and capable investors have been gathered in the region."
He also touched on the large amount of investment in Kish, despite its small size, explaining that most of these investments, except for KFZO infrastructural projects, have been made by the private sector, noting that recent assessments (until the end of last Persian year) show about 30,000 billion Tomans investment in various projects in this free zone.
In the area of investment attraction, CEO of KFZO said: "Kish Free Zone Organization has put this issue on its agenda that the investor must have the necessary power and sufficient credit, and we will not cooperate in case of lack of financial ability."
KFZO head stated that in the current circumstances the island could attract part of the capital and be a driving force for the country's economic sectors, in this way, we can prevent the outflow of money from the country and added: "Hendurabi is a precious national asset that the financially capable people of the private sector, along with the banks and their financing, can use this unique opportunity for investment."
Mozaffari further referred to reorganizing of the 42-km-long coastline of the island as a plan to develop Kish tourism projects stressing that this plan has also been put on the agenda with many studies, benefitting from foreign consultants.
For his part, Barat Karimi, the CEO of Day Bank referred to the bank-oriented nature of the country's economy and said: "The banking system plays a key role in the growth and development of the economy and banks do more than 90% of the financing of economic activists and production sector are well represented by the two indicators of "High Assets" and "High Number of Shareholders."
In the final part of the meeting, the CEO of Day Bank stated that the primary goal of Day Bank is to support production and employment-generating units and said that Kish Island has a crucial role in this matter, and mutual interactions will generate positive outcomes.
Meanwhile, Ali Moghadaszadeh, KFZO Deputy for Economic and Investment Affairs, said: "Investment incentives in Kish are justifiable and the grounds are well provided, and since Kish economic development is based on tourism approach and in this regard, KFZO is ready to provide facilities, hoping that the signing of this memorandum can be a perfect basis for cooperation."
It is worth mentioning that this memorandum aims at promoting and expanding the cooperation between the two parties, observing the country's monetary and banking regulations, providing banking services, including foreign and local currency, to Kish Free Zone Organization and its subsidiaries, and concentrating part of the interactions and financial transactions of Kish Free Zone Organization and its subsidiaries at Day Bank.
PR & Int' l Affairs Department- KFZO