Economy, Domestic Economy

8 New Free Trade Zones to Be Established

8 New Free Trade Zones to Be Established8 New Free Trade Zones to Be Established

The High Council of Iran’s Free Trade, Industrial and Special Economic Zones under the auspices of First Vice President Es’haq Jahangiri passed a bill to create eight new free trade and special economic zones in the country.

“In line with the ‘economy of resistance’ (a set of guidelines proposed by the Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei to counter sanctions, promote domestic growth and reduce reliance on oil revenues), the move is aimed at attracting investment and boosting exports by exempting these regions from certain regulations,” Mehr News Agency quoted Jahangiri as saying during a session at the council on Tuesday.

The free zones will be established in the towns of Fasa in Fars Province, Abarkouh and Meybod in Yazd Province, Gachsaran in Kohgilouyeh-Boyerahmad Province, Urmia in West Azarbaijan Province, Khaf and Qouchan in Khorasan Razavi Province, and Incheboroun in Golestan Province.

Referring to Qeshm, Kish and Chabahar free zones, Jahangiri said, “The three free zones currently claim a larger share in imports than they do in exports.”

Interior Minister Abdolreza Rahmani Fazli, Minister of Culture and Islamic Guidance Ali Jannati, Minister of Justice Mostafa Pourmohammadi, head of Iran’s Cultural Heritage, Handicrafts and Tourism Organization Masoud Soltanifar, Governor of Central Bank of Iran Valiollah Seif, head of Islamic Republic of Iran Customs Administration Masoud Karbasian and representatives from affiliated organizations were present at the session.