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8/24/05

Iran's Kish Island Enjoys Economic Boom

Kish, Aug 24, IRNA-The latest survey conducted on Kish Island by Kish Free Trade Zone Organization shows that the economic boom in the island between 2000-2003 has been twice as much as that materialized nationwide.

A report released by the Public Relations Department of the organization said that the latest statistics show that the value of gross national product at Kish Free Zone in terms of current prices has increased from 1,400 billion rials in 2000 to 3,880 billion rials in 2003, which is equivalent to an average 24 percent boost.

It added that over the same period, the average nationwide gross domestic product (GDP) amounted to 24 percent.

"The per capita GDP as an index of Kish Island economic boom in terms of current prices in 2000 stood at 85 million rials and increased to 192 million rials in 2003, which shows an annual growth rate of 31 percent.

"Meanwhile, the per capita GDP in terms of current prices has increased from nine million rials in 2000 to 16.4 million rials in 2003 and the relevant annual growth rate stood at 20 percent," added the report.

The growing number of the individuals involved in economic activities, the companies registered in the sector, rate of attraction of the private sector investment from domestic and foreign markets, the infrastructures established on Kish Island and the growing participation of foreign investors in industries prove the economic boom in Kish Free Zone over the same years.

Over the past four years, Kish Free Zone has managed to attract 3.5-billion-dollar foreign investment and over 17,000-billion-rial domestic investment.

Besides, the number of enterprises with 100 percent foreign investment registered over the period has almost doubled.

... Payvand News - 8/24/05 ... --



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