Minister urges free zone officials to expedite $10b investment plan
Iran’s Economy Minister Ali Madanizadeh on Thursday called on managers of the country’s free trade zones to accelerate the implementation of a nationwide transformation plan aimed at attracting $10 billion in investment over the next three years.
Speaking to a meeting of Kish Free Zone Organization managers in southern Iran, he said, “My request is to finalize and operationalize the discussion of anonymous investments mentioned in the free zone transformation plan as quickly as possible so that the $10 billion investment target over three years is achieved.”
Madanizadeh said that the overall plan for transforming Iran’s free zones is being prepared by Kish Free Zone authorities and urged them to finalize the plan quickly, following his recommendations and with the support of foreign consultants.
The minister urged Kish Free Zone officials to “think big,” highlighting the potential to turn the island in the Persian Gulf into a regional technology and innovation hub.
Madanizadeh suggested prioritizing the attraction of domestic talent that may face limitations on the mainland, as well as Iranian innovators abroad who could feel more comfortable operating in free zones.
He proposed developing a broader innovation ecosystem beyond the digital economy, concentrating major innovative companies on Kish and bringing leading universities to the island.
“If a nationwide model change is to occur, the first place it should happen is in the free zones,” the minister said, highlighting the strategic role of these zones in driving economic transformation.
According to ISNA, Iran currently has 18 approved free trade zones, eight of which — Kish, Qeshm, Chabahar, Aras, Anzali, Arvand, Maku, and Imam Khomeini Airport City — are operational, while the remaining ten — Mazandaran, Incheh Borun, Sistan, Mehran, Qasr-e Shirin, Baneh and Marivan, Sarakhs, Dogharoon, Ardabil, and Bushehr — are in the process of being activated.
Kish Free Zone, located in the Persian Gulf, is one of Iran’s most prominent economic zones, aimed at promoting trade, investment, and innovation in the country.