Economy, Domestic Economy

Call for Revamping FTZs

Call for Revamping FTZsCall for Revamping FTZs

The current infrastructure of the free trade zones in Iran is poor and are no match for other regional FTZs when it comes to attracting foreign investors, said the director of the office for promotion of exports at the Trade Promotion Organization of Iran. “Despite the new economic climate after the Vienna nuclear deal between Iran and six world powers, much needs to be done to attract foreign investors who intend to put their money into our FTZs or those who mull over coming back to Iran’s market to weigh the opportunities and capacities of our country,” IRNA quoted Mahmoud Bazari as saying. Much as Iran’s FTZs have attractive features like geographic proximity, necessary requirements are lacking including incentive packages, banking facilities and discounts to foreign investors in various fields of production, trade, services and investment.