Iran reveals value of product export via free trade zones

Business Materials 21 June 2020 10:37 (UTC +04:00)

BAKU, Azerbaijan, June 21

By Elnur Baghishov – Trend:

The products worth $17 billion were exported through Iran's free trade and special economic zones in the last Iranian year (March 21, 2019 - March 20, 2020), the Adviser to the Iranian president and Secretary of the Supreme Council of Iran's Free Trade, Industrial and Special Economic Zones Morteza Bank told reporters, Trend reports citing IRIB.

The secretary stressed that also, $5 billion worth of products produced in the free trade and special economic zones were imported to Iran in the last Iranian year.

According to Bank, in addition, $5 billion worth of products were imported from abroad to these zones last Iranian year.

Bank said that last year, the Central Bank of Iran (CBI) allocated $324 million and 50 million euros in foreign currency for the import of a number of products for the operation of free trade zones.

"Over the past seven years (the current government came to power in Iran in 2013), in total, 186,000 people have been employed in the free trade and special economic zones in Iran. Last year, 36,000 people were employed," he said.

The adviser noted that 310 facilities are planned to be commissioned in these zones in the current Iranian year (began March 20, 2020), and 40,000-45,000 people will be employed with the commissioning of the facilities.

Bank added that the private sector investment in these zones increased by about 70 percent in the last Iranian year compared to the preceding Iranian year (from March 21, 2018 to March 21, 2019) and private sector investment is projected to increase by 50-60 percent in the current Iranian year compared to last Iranian year.

"Last year, the private sector invested 100 trillion rials (about $2.38 billion) and about $200 million in Iran's free trade and special economic zones," he said.