Iran is ready to re-establish the Baku-Anzali shipping line to improve its ties with Azerbaijan. Reza Mansour, head of the Anzali Trade-Industrial Free Zone Organization said re-launching the shipping line could strengthen the ties between the two countries, tourism especially, Fars News Agency reports.
Azerbaijan’s investors were also encouraged by Mansour to invest in Anzali Free Zone, which is luring in Azerbaijani businessmen by offering various tax breaks for investors in the zone. Mansour also said that there is no limit on ownership ratio for investors from Azerbaijan.
“The possibility of 100 percent foreign ownership is the zone’s advantage for investors,” Mansour said.
Mansour went on to say that the investors in the zone would not have to pay any tax and duties on imported raw materials and machinery intended for the factories within the zone.
Anzali Free Zone lies in the Southern part of the Caspian Sea, consisting of trade and commercial, tourism and services, and industrial sections.