(Persia Digest) – The Iranian President has agreed to providing free land or with a repayment scheme of 20 years for investors to build 500 hotels in 500 locations across Iran.

The Head of the Cultural Heritage, Tourism and Handicrafts Organization of Iran, Ali-Asghar Munesan, said: “The President has agreed to our written request to issue licences for the construction of 500 hotels across the country and provide the land for free or with a repayment scheme of 20 years. Special attention will be paid to poorer regions.”

Persia Digest (PD) reports that in Munesan’s letter to the President, it was stressed: “Presently, there is considerable demand by domestic and foreign investors to invest in tourism, especially the construction of 4 and 5-star hotels in large cities.”

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President Hassan Rouhani has agreed to the plan and referred it to the ministries of Roads and Urban Development, Interior, Agriculture, and Planning and Budget Organization for action.

Iran is attempting to revive its tourism industry through measures such as visa waivers and construction of hotels and recreational and tourism centers. This will bring in more foreign currency to compensate for US sanctions imposed on its oil sector.

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