Economy minister vows to scrap restrictive directives to boost FTZs

Iran’s Minister of Economic Affairs and Finance, Dr Seyed Ali Madanizadeh, has pledged to abolish restrictive directives and regulations that he says have undermined the spirit of the country’s free trade zone legislation. Speaking on the sidelines of the reopening of the Steel Aras plant, he argued that cumbersome rules had rendered the law “a dead spirit” and must be repealed to restore its intended effect.

Madanizadeh thanked investors, local business leaders, the provincial governor, and officials of the Aras Free Zone for their efforts in creating conditions conducive to greater investment and economic activity.

He stressed that the government’s priority is to ensure that each free zone focuses on two or three specialised sectors, with tax incentives and exemptions directed primarily at investors in those priority areas. Existing tax barriers, he added, would be reviewed and removed.

The minister also highlighted ongoing cooperation with the Central Bank to ease foreign exchange allocation and compliance requirements. He said these measures aim to reduce currency-related restrictions for businesses operating in free zones and to minimise trade obstacles, particularly in the import of raw materials.

News ID 733504