Economy, Domestic Economy

SEZs’ Budget to Rise

SEZs’ Budget  to RiseSEZs’ Budget  to Rise

The government is planning to raise next year’s budget for special economic zones by 1.5 times that of the current Iranian year (ending March 19), says deputy industries minister and head of Iran Small Industries and Industrial Parks Organization, Mohammad Ali Seyyed-Abrishami. “This comes as the SEZs’ 350-billion-rial ($11.71 million) budget allocation for the current fiscal year is yet to be fully met,” IRNA quoted Seyyed-Abrishami as saying. “These zones play a significant role in the development of industries and exports.” There are nine designated special economic zones in Iran with economic regulations differing from those of other areas in terms of incentives. These regulations include measures that are conducive to foreign direct investment and trade.