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Legal Matters

Iran sets up new special economic zones

Tehran, Iranian parliament voted in favor of forming special economic zone in Khalkhal, Kiyashshar and Faridan making the number of new special economic zones in the country to hit 101.

Representatives in the wake of the general meeting on Tuesday, amended parts of the immediate bill to create eight free trade and industrial zones, reforming the boundaries of three free trade zones and creating special economic zones.

According to parliamentary resolution, with the addition of the special economic zone of Khalkhal, Kyashahr and Fridan to the previous 98 zones, 101 new special economic zones are formed in the country.

'It is while Chabahar Free Trade Zone has made new records by launching manufacturing projects with the aim of boosting national product and employment indices,' Secretary of Iran's Free Zones High Council Morteza Bank told the Islamic Republic News Agency (IRNA) last week.

Referring to large steel and petrochemical plants in Chabahar, he said that the plants contribute to creating thousands of jobs and developments of Sistan-Baluchestan Province.

An industrial logistic park with capacity to handle 3,000 trucks a day facilitates the transportation of goods entering Shahid Beheshti and Shahid Kalantari Ports to four corners of the country, and will create more than 12,000 jobs, according to the official.

He also noted that the project of crocodile breeding in the Free Trade Zone with a 50-billion-rial (980,000 euros) investment would promote employment as well as tourism and development of the region.

Chabahar Free Trade Zone, in southeastern Iran, in an area of 14,000-hectare, has been established following a directive by the Iranian Parliament.

Source: Islamic Republic News Agency - IRNA

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