Akhundi made the remarks in the Iran Aviation Summit 2016 currently underway in Tehran.

He added that Iran is located in a strategic area and on the crossroads of East and West.

‘Iran needs 250 million dollars new investments for purchasing its aviation systems and foreign companies operating in this sector, except the ones which are affiliated to the Zionist regime, could make investment in Iran,’ he said.

Iran Aviation Summit 2016 dubbed ‘Iran 2016’ opened in Tehran on Sunday in the presence of several representatives from 35 countries.

Over 160 representatives from 85 companies in the fields of manufacturing airplanes, planes spare parts, and navigation equipment are attending the two-day gathering.

This will be the first major international aviation summit to be held in Iran in almost 40 years and is provided with the full backing of Iran’s aviation authorities and industry leaders.

As a result of the signing of the historic Joint Comprehensive Plan of Action (JCPOA) in July, 2015, Iran’s civil aviation sector, and its tourism industry, is set for significant modernization and expansion following the lifting of sanctions on 16 Jan 2016.

The Iran Aviation Summit will bring together Iran’s key government and industry leaders with international experts and the chiefs of aviation operators and suppliers from around the world to discuss the direction of the industry in a post-sanction environment.

There are also significant route development opportunities for foreign airlines, airports and national tourism authorities. Given the wealth of historical, cultural and natural attractions in Iran, an expected surge in inbound tourism will drive investment in hotels and services.