QFTZ Will Turn Into Major Economic Hub

With the establishment of an investment center in Qeshm Free Trade Zone (QFTZ), located a few kilometers off the southern coast of Iran, the time required for issuing investment permission will be reduced to two days.

Announcing this, the managing director of QFTZ Esfandiar Heydari said that speeding up service affairs, reducing the time for registering companies, presenting incentives to businessmen and raising the awareness of investors about the 20-year tax exemption are among the important objectives of establishing the investment center, IRNA reported.

He expressed satisfaction over foreign investment regulation for QFTZ, saying that foreign investors can invest in various parts of the zone without the partnership of Iranian investors.

Referring to the existence of huge oil and gas reserves in QFTZ, he said that the region will become an economic hub for the oil and gas sectors. The official said that permissions have been issued for the construction of six hotels in Qeshm Island, noting private sector investment in the tourism sector of QFTZ is economically viable.

By commissioning the Persian Gulf Bridge which is expected to connect QFTZ’s rail and road networks to the mainland, a new chapter of macro-economic activities will be opened in the region.

Meanwhile, managing director of Kish Free Zone Organization said free zones can use their potential to increase synergy with each other. He made the remarks during a visit to Qeshm Island.

Alireza Ameri added since Kish Island and Qeshm Island are neighbors, they should increase cooperation in different fields and bolster ties. He noted that free zones should raise each other’s efficiency in different fields including the developmental sector.