News ID: 279279
Published: 0330 GMT January 09, 2021

Domestic investors inject over $2b into Iran special economic zones

Domestic investors inject over $2b into Iran special economic zones
IRNA

Over $2 billion of domestic investments were made in Iran’s special economic zones during the Iranian year ending March 19, 2020, according to statistics released by the Ministry of Finance and Economic Affairs.

The figures show an increase of 173 percent compared to the figure for the preceding year, IRNA reported.

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

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

Morteza Bank, the secretary of Iranian Free Zones High Council, has recently said that about $24 billion of domestic investments plus $1.5 billion of foreign investments is forecast to be made in free trade zones and special economic zones of the country, which will create 102,500 jobs in the near future.

The job opportunities will be created through implementing 320 development projects in free trade zones and 200 projects in special economic zones by August, which marks the end of the administration of President Hassan Rouhani, Bank stated.

More than 40 percent of Iran’s exports is carried out through the country’s free trade zones and special economic zones, Bank said in September 2020.

The value of exports from Iran’s free trade zones and special economic zones stood at $17 billion during the past Iranian year.

There are currently seven free trade zones and 25 special economic zones in Iran.


 

   
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