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Potential Businesses In Maku Free Zone

Potential Businesses In Maku Free Zone

 

 Potential Businesses In Maku Free Zone


The Free Zone Organization has published a list of different types of businesses which have been designated for construction in the free zone. These include UPVC manufacturing, food factories, hard stone production, gypsum manufacturing, greenhouse-produced fruit and vegetables, and electronic manufacturing. The organization has also stated that it sees other areas with potential to be established within the zone; these include toy manufacturing, motor manufacturing and nanotechnology production, but how likely these are in the foreseeable future remains to be seen. The MFZ has listed the cost of these types of investment in thousands of dollars and welcomes foreign business investment as well.


What does the future hold for the Maku Free Zone? In late October, Akbar Torkan, a senior advisor to President Hassan Rouhani stated that free zones in the country must seize the opportunity to bolster investment. He said Iran has regarded establishing free trade zones as a lucrative economic phenomenon. Twenty-five years ago, Iran established 3 free trade zones to facilitate its economic ties with neighboring Persian Gulf Arab nations, but Torkan said “due to a variety of factors such as political disputes, problems remained in getting them to where they would ideally like to be.”


The same goes for the northern free zones. Although they are not as well established as their southern counterparts, they have also faced a variety of developmental problems. Torkan did state that these problems, which have adversely affected the free zones, would end and that the country is determinant to further reduce its reliance on oil revenues considering the recent collapse in crude prices. The future for the free zones and Maku in particular now hangs in the balance of future government decisions on how to develop trade in such zones. The Rouhani administration says it is seriously pursuing the idea to transfer industry and knowledge into the zones to give them a fighting chance at the very least.

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