New plans for Kish.
Exemption from customs duty of $3,000 for a free financial zone.
🔹 At the inauguration ceremony of 17 projects and the beginning of the construction of four more, which include investments to the extent of about 114 trillion Rials, Economy Minister Modanizadeh announced the development of a plan to revive free zones based on their competitive advantages.
🔹 Innovation, the digital economy and fintech are the proposed priorities for Kish; Efforts are also underway to establish a financial free zone there.
🔹 Modanizadeh described the increase in the duty exemption limit for the luggage of travelers in Kish from $80 to $3,000 as a step to offset economic damages caused by the conditions of the war and to increase trade and tourism.
🔹 Simplification of customs procedures, tax and national insurance support and banking facilities are also included in the government support package.