TEHRAN- The Iranian parliament (Majlis) on Sunday gave approval to a bill on the establishment of 12 new special economic zones and also eight new free trade zones, ISNA reported.

The bill, which also includes revising the status of three existing FTZs, was passed with 141 votes in favor, 75 against and 7 abstentions.

The new FTZs will be established in the northeastern province of Golestan, the northwestern province of Ardebil, the southeastern province of Sistan-Baluchestan, the southern province of Hormozgan, and the southwestern province of Bushehr as well as in the western provinces of Ilam, Kordestan and Kermanshah.

Some 1,400 industrial units are currently active in Iran’s free trade zones, according to Morteza Bank, the secretary of the high council for free zones.

The official has said that some huge investments have been made in Iran’s free zones over the past five years.

Iran has already eight free trade zones and 26 special economic zones, as published on the council’s website.

MA/MG