Majlis economic committee to study creating new free zones

January 1, 2018

TEHRAN- The bill on establishment of eight new free trade-industrial zones and 12 new free economic zones will be discussed by Iranian parliament (Majlis)’s economic committee within the next two weeks, Morteza Bank, the secretary of Free Zones High Council, announced.

It is while about one and half year has passed since the government has submitted this bill to Majlis, ISNA reported on Monday.

The bill is on establishment of the free zones in these provinces: Golestan in northeast of the country, Ardebil in northwest, Ilam and Kordestan in west, Bushehr in southwest, Hormozgan in south and Sistan-Baluchestan in southeast of Iran. 

Establishment of free trade zones 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.

While near three decades have passed since start of free trade zones activity in Iran, their planned objectives have not been fully achieved and their development is still facing some impediments.   

Lack of proportion between the facilities and the objectives, lack of a national definition for these zones’ performance, limited resources for establishment and completion of infrastructures, no comprehensive management between the zones, and not complete implementation of zones management law are some of the barriers in the way of free zones’ activity and development in the country.

MA

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