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Iran’s parliament okays establishment of 3 special economic zones

Business Materials 5 September 2018 13:13
A bill on the establishment of three special economic zones was approved in Iran’s parliament.
Iran’s parliament okays establishment of 3 special economic zones

Tehran, Iran, Sept. 5

Trend:

A bill on the establishment of three special economic zones was approved in Iran’s parliament.

The parliamentary session on Tuesday saw lawmakers vote in favor of the bill, ISNA news agency reported.

Once the parliament and the Guardians Council give their final approvals, three SEZs will be created in Khalkhal, Kiashahr and Fereydan, located in the provinces of Ardabil, Gilan and Isfahan.

They were supposed to decide over the establishment of 8 free trade zones and 12 special economic zones.

Iran started to experiment with free trade zones in the early 1990s. As per Article 19 of the First Five-Year Economic Development Plan (1991-96), Iran’s first three FTZs were established.

Since then, the total number of such zones has grown to seven, namely Kish, Qeshm, Chabahar, Aras, Anzali, Arvand and Maku.

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