Rise in Persian Gulf SEZ Exports, Production

Some $1 billion worth of commodities were exported from the Persian Gulf Mining and Metal Industries Special Economic Zone in the Iranian year to March 2017, indicating a 20% rise compared with the previous year, the SEZ’s managing director said. “Production by industries located in PGMISEZ, located in the southern Hormozgan Province, during the same period saw a 13% rise year-on-year to hit 4.27 million tons,” IRNA also quoted Hassan Khalaj Tehrani as saying on Saturday. The special economic zone, located in the west of the port city of Bandar Abbas, boasts massive reserves of oil and gas, proximity to iron ore mines as raw material to steel industry and easy access to open seas. It also shares all the advantages of Iranian special/free economic zones, such as tax and customs duties exemptions to encourage investment.