Iran is creating the FEZ near the border with Turkmenistan

Iran is creating the FEZ near the border with Turkmenistan

The governor of the Iranian province of Golestan Hadi Hagshenas declared that at a meeting of the IRI Parliament, it was adopted a bill on establishment of the “Inche-Burun” Free Economic Zone near the railway border crossing Akyayla (Turkmenistan) – Incheburun (Iran).

According to the ISNA News Agency, the Governor said that the “Inche-Burun” Free Economic Zone covers an area of 12,500 hectares from the border area to the location of the petrochemical complex.

He added that access to the railway and land frontier with Turkmenistan is an important advantage of the region, and opportunities to expand dialogue across the border in the Caspian Sea may also be involved along with some reforms to be carried out in the future.

According to the governor, who pointed to the tax remissions and other advantages of free economic zones, the Inche-Burun FEZ will be attractive for investments and will be a unique opportunity for the economic growth of the province.

In Iran, free economic zones already exist in the south of the country – Chabahar, Keshm, Kish, Serakhs, Arvand, in the north – Aras and Enzeli. In addition to the FEZ, there are 15 special economic zones: Julfa, Selfchegan, Sirjan, Bushehr, Khorramshahr, Shahid Rajaee (Bandar Abbas), Amirabad, Serakhs, Khuzestan, Electricity and Electronics SEZ in Shiraz, Energy SEZ “Pars” (Assaluye), Aircraft SEZ “Payam”, Petrochemical SEZ (Bandar-e Imam Khomeini), Shipbuilding SEZ “Khalije Fars” (Hormozgan province), Mining and Metallurgical SEZ (Bandar Abbas).

On December 3, 2014, with the participation of President of Turkmenistan Gurbanguly Berdimuhamedov, Then-President of Kazakhstan Nursultan Nazarbayev and President of Iran Hassan Rouhani, it was held the opening ceremony of the Kazakhstan-Turkmenistan-Iran Transnational Railway. Cargo delivery from China, Turkey, Europe and CIS countries to Iran is carried out through the border crossing Akyayla – Inche-Burun.

Free economic zones may appear in Turkmenistan as well in the years immediately ahead. The main goal of the future FEZ is to attract investors and advanced technologies for effective use of local resources.