FTZs can pioneer in economic growth, development

Tehran, Feb 4, IRNA – Head of the Majlis Research Center said free trade zones can be pioneers in export development, adding that if the zones put development targets on their agenda with the use of tax exemptions grounds can be provided for the progress and development of the country’s economy. Speaking in a meeting with Ali Akbar Shabani-Fard, Managing Director of Qeshm Free Zone, Kazem Jalali remarked that Qeshm is an important strategic political and economic island which can be named as “Iran’s diamond in the Persian Gulf”. Jalali who is a deputy from Shahroud and Miami in the Majlis, noted that economic potentials in Qeshm in the field of oil and its transfer to global market have created advantages for the zone and that investment in this sector can create employment opportunities and bring in proper hard currency. He also pointed to the gas resources in Qeshm Island as a valuable situation for employment and export of gas and reminded that besides oil resources and in compliance with the Supreme Leader’s instructions for reduction of dependence on oil revenues, exploitation of valuable mines in Qeshm Island should be put on the agenda. Stressing that Qeshm Island with regard to its span is much higher than many world countries, he noted that the island by adopting sound economic policies can be turned into a valuable revenue-generating resource for the country in the field of tourism, mineral resources and transit of commodities in maritime and aviation sectors. Meanwhile, by outlining performance of the zone in the current year Shabani-Fard said that Qeshm Island possesses great potentials for growth and development which should be deployed for economic boom and employment. He also said the project for the construction of an oil terminal for the storage of oil up to 20 million barrels in Qeshm is on the agenda, adding that the project will become operational in three stages in which the first phase for storing 6.4 million barrels of oil will be implemented with rial and hard currency investment of the private sector. He termed the Persian Gulf Bridge project as a turning point on the route of progressing development targets of Qeshm and said with the exploitation of the worthwhile project by the end of 1395 (2016-2017), the Qeshm Island will find a valuable position in exchange of commodities and passengers in north-south corridor.