Iran Aims to Attract $10b in Investment in Each Free Trade and Industrial Zone Within Three Years

TEHRAN (Iran News) Speaking at a meeting with managers of the Kish Free Trade Zone Organization, Madanizadeh praised the efforts of the Secretary of the Supreme Council of Free Trade and Industrial Zones and other officials for their “valuable short-term achievements” on Kish Island.

“In Iran, anyone who has ever implemented a project knows how difficult it is to bring it to completion. That makes the accomplishments of the Kish Free Zone even more remarkable, given the scale of work achieved in such a short time,” he said.

Madanizadeh expressed hope that the Kish Free Zone management team would continue to improve efficiency, precision, and innovation in their work, using modern knowledge and technology to accelerate progress.

He noted that the Kish Free Zone authorities are preparing a comprehensive transformation plan for the country’s free zones, urging them to finalize it quickly with the help of international consultants.

“My request is that the section on ‘anonymous investments’ within this transformation plan be completed and implemented as soon as possible,” he said, emphasizing the target of attracting $10 billion in investment within three years.

Addressing issues raised by managers regarding customs and taxation, Madanizadeh stated that the Free Zones Secretariat has already prepared draft legislation for matters requiring parliamentary approval. “We are seriously pursuing its passage,” he said.

He added that other issues not requiring new laws could be resolved within the Ministry of Economy or by the Cabinet, urging close coordination among the Free Zones Secretariat, Kish Free Zone Organization, the Tax Administration, and the Ministry’s banking and insurance departments to design practical solutions promptly.

Highlighting the ministry’s six major national projects, the minister called on the Free Zones Secretariat to outline the role of free zones—particularly Kish Island—within these initiatives.

He suggested that Kish Island could become a regional hub for technology and innovation, noting that such a transformation could attract both domestic talents who face barriers in the mainland and international professionals seeking to work in Iran under more flexible conditions.

“Beyond digital economy development, we can build a full innovation ecosystem on Kish Island—bringing together leading technology companies and top universities to create a major innovation environment,” Madanizadeh said.

Emphasizing that the governance model of free trade zones must differ from that of other regions, Madanizadeh stated, “When someone enters a government office in a free zone, they should experience something completely different from start to finish.”

He underlined that free zones should pioneer data-driven governance, rapid data assessment, and streamlined decision-making, setting an example for other parts of the country.

“If we are talking about simplifying overlapping and complex regulatory systems, the free zones must be the first to eliminate such inefficiencies,” he added.

Madanizadeh concluded by stressing that free zone managers possess broad authority similar to that of provincial governors.

“You are, in effect, like presidents within your own jurisdictions,” he told them. “President Pezeshkian has repeatedly said that governors are the presidents of their provinces—and the law grants you almost the same powers. You must make full use of them.”