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The Flower of the East Blooms in
Kish
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Kish hosts 200,000,
82% of which immigrated to that location for its employment prospects. |
Following patterns
set by neighboring regions in creating conditions for competition, Iran’s
economic structures will undergo corrective reform in which regions such as
Kish will be transformed to an economic engine momentously driving towards
development. The reduction of government monopolization and the enhancement of
the private sector in Kish, has allowed exchange, trade and services to be
addressed as the main areas of development, while allowing the state to
maintain its governing role. This has resulted in Kish becoming a secure
location for investment and home to many entrepreneurs.
The Kish Free Trade Zone will be
developed based on a policy of enhancing foundational facilities such as
waterworks and power; developing communications and transportation systems;
the creation and enhancement of monetary structures and banks; establishing a
stock exchange; supporting of non-polluting industries which utilize
high-tech; attracting and encouraging participation of the private sector;
attracting foreign and domestic investment and expanding civil services.
The Kish Island currently hosts a
population of more than 200,000, 82% of which immigrated to that location for
its employment prospects. Kish boasts an employment rate of 98% and a literacy
rate of 92%. Kish’s water and electricity is supplied by local desalination
and power plants. Over the last two years, desalinated water output capacity
has increased by 144%, electric power by 191% and undrinkable water used for
irrigation has increased by 486%. This margin of growth ensures that water and
power will maintain the upper hand in the supply and demand ratio. When supply
increases in proportion to demand, it guarantees that no one will be left out
of the water and power supply grid.
Moreover, there are three major projects
scheduled for Kish, first of which is connecting Kish to the nationwide power
grid which is expected to be completed by the first quarter of 2004. The
second project is transferring gas to Kish from the Siri Islands, also to come
on-stream by the first quarter of 2004. The third project seeks to utilize the
water reserves of the country’s southern regions due to become operational in
2005.
| Kish
airport has relocated 1.5 million passengers with 13,000 domestic and
international flights over the past year. |
In terms of transportation, Kish airport
has relocated 1.5 million passengers with 13,000 domestic and international
flights over the past year. With a maximum of 108 flights per day, it has been
one of the country’s busiest airports. However, that is not all, as last year
215,000 tourists and businesspeople made their way to Kish by maritime
transport. Kish’s port expansion project has been completed with credits worth
350 billion rials, upgrading the port’s capacity from 2,000 tons to 10,000
tons. Kish’s port will be further expanded to accommodate the docking of ships
laden with 40,000 tons of cargo. This project is underway with credit worth
450 billion rials and will come on line at the beginning of 2006.
Kish has potential for a booming tourism
industry, with 58 hotels and hostels with a total of 8,500 beds. Mobiles in
Kish can currently "roam" in 18 different countries and the initial steps have
been taken for setting up an international roaming service with 98 countries.
It is worth mentioning that Kish is the only region in Iran that has entrusted
its entire mobile network administration to the private sector.
With cooperation from the Ministry of
Oil, many big oil companies have set up offices in Kish and a major portion of
the support required for the ongoing projects in Assaluyeh comes from Kish.
This has had the knock-on effect of relocation by many of the Ministry of
Oil’s offices to Kish from abroad. Furthermore, Kish is host to comprehensive
stock exchanges that trade in oil, precious stones and jewelry, carpets,
software and hardware and services.
Kish has attracted $1 billion of foreign
investment mainly in the fields of tourism, industry and services to date.
Some of the major projects that have attracted foreign investment include
establishing the Delfinarium Recreation Center, Darius Grand Hotel, Sadaf
Commercial Tower, desalination plants and expanding Kish’s mobile network.
Most significantly however, is the mammoth project known as "Flower of the
East", which is to be constructed on a 200 hectare plot of land with an
estimated investment of €1.7 billion. The contract for this project has been
concluded and the land has been transferred, upon completion Flower of the
East project will absorb one of the biggest foreign investments ever made in
Iran. |
