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Mashhad hosts annual Investment Opportunities and Urban Economy expo

Monday, 09 December 2019 12:29 AM [ Last Update: Monday, 09 December 2019 12:35 AM ]

Yusef Jalali
Press TV, Mashhad

Iran's northeastern city of Mashhad is the second most populous city in Iran after its capital Tehran.

Having the shrine of the eighth Shia Imam at its center, the city hosts some 20 million religious tourists throughout the year who visit the city to pay homage to Imam Reza.

This has made the city a hotspot for urban development projects. To attract investors, Mashhad Municipality hosts this annual exhibition dubbed Investment Opportunities and Urban Economy.

The municipality has introduced 100 investment opportunities in a range of urban development areas, from transport to construction of hotels and shopping centers.

The mega project needs 10 billion dollars to be accomplished. Due to the US's banking sanctions against Iran, foreign investment has witnessed a sharp decline in Iran. However, Mashhad Municipality says it is working hard to attract foreign investment.

Foreign exhibitors here say they are not willing to miss Iran's lucrative market. They say there's always a way if there's a will.

Aside from religious tourism, health tourism and entertainment tourism have also seen a boom in the city over the past years; something which Mashhad Municipality is also capitalizing on.

Housing the holy shrine of Imam Reza as a tourist magnet, Mashhad as put by its municipality is a mine of investment opportunities. Officials believe with the current mega project accomplished, the religious city would meet all the needs of at least 20 million pilgrims.

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