Imam Reza shrine has been active in SEZ for the past 27 years, and invested some $1.2m in the infrastructure of the region. Given the passing of the government’s bill through the Iranian parliament and its approval by the Guardian Council, the region will become a free commercial-industrial zone. Once the legislature is promulgated, the way will be paved for wider domestic and foreign investments, which will make Sarakhs the regional transit hub.

The head of Endowment Beneficiary Foundation, Seyyed Mahdi Sadidi, spoke about the significance of the legislature, saying, “One of the goals for the expansion of this free zone will be the growth of domestic production and national economy considering the 200m-strong market of the CIS (Commonwealth of Independent States) member states”.

Stressing that employment opportunities is one of the most important goals of the foundation in SEZ, Sadidi noted: “Imam Reza shrine has always prioritized the local people of Sarakhs; therefore, a balanced economic, social, and cultural growth of the region is high on our agenda”.

“Some 1000 thousand people have been employed in the region over the past year and a half, %95 of whom are from the local community. Upon turning the region into a free zone, there will be a rise in the employment figure as well”, continued he.

Adding that Sarakhs has one of the biggest shares in Imam Reza shrine endowments, head of the foundation said: “Fulfilling the religious laws regarding endowments has always been our priority, and this legislature will help us to serve the regional and local people more than ever”.