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Projects worth $1.38b launched in free trade, special economic zones


Projects worth $1.38b launched in free trade, special economic zones

President Hassan Rouhani on Thursday inaugurated 39 projects worth 58 trillion rials (about $1.38 billion) in the free trade zones and special economic zones of three provinces through video conference.



The projects put into operation in Hormozgan, East Azarbaijan, and Qom provinces created jobs for 5,400 persons.

The development of free trade zones and special economic zones through production, exports and investment is one of the goals of creating these zones in the country.

To achieve this target, different measures were taken in the past year, such as attracting innovative and technological units to these areas, and introducing investment opportunities and advantages in these zones.

The establishment of free trade zones in Iran dates back to Iranian calendar year 1368 (March 1989- March 1990) following the fall in the country’s oil income in the preceding year which prompted the government to promote non-oil exports.

The first two free trade zones of Iran were established in the Persian Gulf islands of Kish and Qeshm.

Some five other free trade zones have been also established in the country since then, including Chabahar in southeastern Sistan-Baluchestan Province, Arvand in southwestern Khuzestan Province, Anzali in northern Gilan Province, Aras in East-Azarbaijan Province and Maku in West-Azarbaijan Province, both in the northwest of the country.

Considering the important role that the free trade zones play in promoting the country’s export and employment, Iran is seriously pursuing the development of its existing zones and establishment of new zones as well.