Economy, Domestic Economy

Emiratis Invited to Invest in Iran’s FTZs

Emiratis Invited to Invest in Iran’s FTZsEmiratis Invited to Invest in Iran’s FTZs

Managing director of Chabahar Free Trade-Industrial Zone, Hamed Ali Mobaraki, on Tuesday encouraged Emirati investments in the FTZ.

Referring to time-honored ties between Iran and the Persian Gulf littoral states, he underlined the need to improve economic cooperation between Iran and the UAE, IRNA reported.

“Investors are provided with a myriad of legal facilities, including but not limited to a 20-year exemption on income and capital taxes,” he added.

Tax-free import of industrial machines, automobile spare parts, vehicles, building materials required for construction of production units, availability of specialized workforce and flexible regulations were mentioned by the official as other advantages of investing in the FTZ.

Mobaraki made the remarks in Dubai where he attended a one-day conference on “Investment Opportunities in Iran’s Free Trade Zones” earlier this week.

President Hassan Rouhani’s chief advisor and secretary of Iran’s High Council of Free Trade and Special Economic Zones, Akbar Torkan, Iran’s ambassador in Abu Dhabi, Mohammad Reza Fayyazbakhsh, and a number of Iranian and foreign traders also participated in the event.

 Opportunities in Arvand Free Zone

Addressing the Dubai conference, managing director of Arvand Free Zone Organization, Esmaeil Zamani, enumerated the advantages of investing in this other major Iranian FTZ.

“Uniquely situated on the intersection of various trade routes, Arvand offers massive potential for land, sea and air transport,” he said on Monday.

Arvand covers an area of 172 square kilometers and surrounds Khorramshahr, Abadan and Minoo Island along the Arvand waterway in Khuzestan Province.

 Boosting Cooperation Via FTZs

Torkan and managing directors of Arvand and Chabahar met with chairman of Dubai’s Jebel Ali Free Zone, Sultan Ahmed bin Sulayem, to discuss closer cooperation between the Iranian FTZs and those in the UAE.

Referring to the north-south railroad corridor linking Central Asia to the Persian Gulf and the recently inaugurated railroad linking Iran, Turkmenistan and Kazakhstan, Torkan highlighted the export opportunities for the UAE in Central Asian countries via Iran’s southeastern Chabahar Port.

Bin Sulayem expressed eagerness to visit Chabahar Port, acknowledging the significance of the strategic location of the port.