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Director General of Economic and Financial Affairs of Ardabil province
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Director General of Economic and Financial Affairs of Ardabil province

Director General of Economic and Financial Affairs of Ardabil province:

Foreign investment of designing a variety of automotive relays and electronic components has 80% of physical progress.

 

Following by periodic visits and to supervise, lead, and taking care of the good performance of investment projects, the plan of SAS company located in France was visited by members of the Provincial Investment Services Center.

According to the Public Relations Department of the Ministry of Economic and Financial Affairs of the Ardabil Province, Dr. Mozaffari said: “On this visit, while observing the current status of the plan, obstacles and challenges of the plan investigated and solutions and the necessary advice were provided to the investor.”

Director General of Economic and Financial Affairs of Ardabil province added: “Last year, the abovementioned company, along with the participation of the Negaran Tasvir Nasl-e-Jadid, managed to obtain foreign investment license from the Ministry of Economic and Financial Affairs (Organization for Investment and Economic and Technical Assistance of Iran). This company was the executive body for the production of a variety of automotive relays and electronic components at Ardabil Industrial Zone under construction. This plan has been implemented with 90% of foreign participation with initial investment volume at a rate of 600 thousand euros cash and the rest as a production machinery and technology, and other measures that are needed to bring the plant to operation.”

“The employment rate of this plan in the first phase is 130 people and in the second phase it is 700 people which it will be more than that number, in case of developed and increased production. The percentage of physical progress of the plan is about 80% according to the visit made.” He stated.

According to the company's representative, logging of raw materials and machinery has faced problems due to cruel sanctions. This plan facilitates communication with French partner guidance through negotiation, phone call, email, and so on.”

It is noted that to eliminate problems related to currency transfers required for the purchase of raw materials of previous company, the abovementioned company decided to create a large data center (Bitcoin) with the investment of a Chinese investor which is at the stage of review and taking the necessary actions by the Investment Organization of the country.

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