TEHRAN – Iranian Transport and Urban Development Minister said Imam Khomeini Airport City (IKAC)’s newly established free trade zone is an opportunity for the country’s knowledge-based companies to increase their exports.

“Located next to the capital, this free zone can become a powerful driving force for the country's economic development,” the portal of the Transport Ministry quoted Mohammad Eslami as saying on Sunday.

“This free zone should not be limited to imports and knowledge-based, high-tech products should be exported from the zone,” he added.

According to the official, this free trade zone is an opportunity for investors to connect directly to the region's financial markets.

Underlining the importance of attracting investment in the country’s free trade zones, Eslami said the government should pave the way for the private sector’s contribution in such areas in order to make the free trade zones real economic hubs.

The minister further pointed to the necessity of developing knowledge-based businesses in the country, saying: "At the moment we are losing our educated workforce and they are being attracted by other countries, therefore, there is a need to provide knowledge-based employment in the country.”

"Currently, infrastructure is provided in Imam Khomeini Airport City’s free trade zone for the development of knowledge-based businesses. There is a clear plan and necessary regulations are in place, so we should not waste more time and opportunity,” he stressed.

Earlier this month, Imam Khomeini Airport City and a number of Iranian knowledge-based companies inked over 60 memorandums of understanding (MOU).
The agreements were signed on the sidelines of the event for introducing the technological needs for aircraft maintenance.

The event was attended by the IKAC Managing Director Ali Rostami, member of the board of directors Mehdi Ali Asgari and the Airport Operations Department deputy at IKAC Hassan Khoshkhoo.

Rostami noted that Imam Khomeini Airport City Company has signed a contract with Iranian knowledge-based companies to invest in the development of IKAC, services, airport facilities and equipment, information technology, navigation and flight control.

EF/MA