Iran’s Free Zones High Council has invested 360 trillion rials (about $1.285 billion) in the country’s free trade zones in the past Iranian calendar year 1400 (ended on March 20).
The Secretary of the Council, Saeed Mohammad, announced that 60 trillion rials (about $214 million) of investment was made in the free zones during the first quarter of the current Iranian year (March 21-June 21).
He said 2,500 industrial units are currently active in the free zones of the country.
Establishment of free trade zones (FTZs) in Iran dates back to Iranian calendar year 1368 (March 1989 – March 1990) following the fall in the country’s oil income in the preceding year which prompted the government to promote the non-oil exports.
The first two free trade zones of Iran were established in the south of country. The first one was Kish Free Trade Zone established in 1368 on Kish Island in the Persian Gulf and the second one was Qeshm Free Trade Zone established the year after on Qeshm Island in the Strait of Hormuz.
