BAKU, Azerbaijan, Mar. 8
Trend:
Iran is expected to inaugurate 50 development projects in 7 free economic zones, with the credit of $16.9 million by the end of the current Iranian year (started March 20, 2020), Ahmad Jamali, the deputy secretary-general of the Free Zones High Council for the economic affairs said.
"Previously total of 117 projects have been inaugurated in economic free zones in September and January with $59 million investment that created 7,620 jobs, and 50 projects would inaugurate with $16.9 million by the end of the current Iranian year. The following 50 projects would create jobs for 5,000 individuals," said Ahmad Jamali, Trend reports citing IRNA.
"Free economic zones have provided the ground to attract tech and innovation companies. A total of 117 tech and innovation companies have started to work in free zones during the first nine months of last Iranian year (started March 21, 2019) while the number of tech businesses has increased by 33 percent to 156 companies in the current Iranian year," he noted.
"Total of 1,307 production units were active in free and special economic zones in last Iranian year and in current Iranian year more than 300 production units added. During two years 1,610 production units have been added to total active production units in free and special economic zones. The free and special economic zones have played a special role in supplying medical equipment during the Coronavirus situation," he pointed out.
The Iranian government has special plans to attract foreign and domestic investment for free economic and special zones. Iran's free economic zones have imported $45 billion and exported $132 billion during the past eight years. About 40 percent of the country's export that is mostly petrochemical products are exported from these zones.