TEHRAN, Iran, July 19. Foreign investors are interested to invest in Maku Free Zone, the Managing Director of Maku Zone Organization Mohammadreza Abdolrahimi told Trend.
Iran has provided incentives to neighboring countries such as Azerbaijan to invest in Maku Free Zone, he said adding that Azerbaijan is located near Maku and Aras free zones that would have advantage for investors.
According to Iran free zones regulation foreign investors in Maku Free Zone will be exempted from tax payment that includes customs duty exemption for export of Iranian products and import of basic materials and machinery.
The official announced that any foreign investor can establish a company in free zone and own 100 percent share of the company in addition to have the legal advantages that set for Iranian companies.
"If foreign investor establishes a company in Iran , the owner can possess property land," he said referring to issue of foreign investors land ownership in Maku Free Zone.
Turkish investors have invested in textile industry and production of engine oil in Maku Free Zone, while Chinese established a power plant, and Indians produce steel, some Europeans have also invested in different fields, he pointed out.
Iran has issued more than $1 billion foreign investment license in Maku, so far $250 million invested and the rest would gradually follow, he added.
Maku Free Trade-Industrial Zone was established in 2010, with an area of 500,000 hectares. The Zone, which includes parts of Maku, Bazargan, Shoot and Poldasht, shares borders with the Republic of Azerbaijan and the Autonomous Republic of Nakhchivan, on the east, and with Turkey on the west.
