The statements of the Minister of Economic Affairs and Finance on Kish Island regarding the key role of free zones in realizing the investment attraction program, considering the recession prevailing in various areas and capital flight from these zones due to weak management, corruption, and instability in special free zone laws, are more of the government's dream selling for regions that over the past two decades have not only failed to attract investment but have also turned into gateways for importing worthless goods while facing capital flight.
Claimed $100 Billion Target
Madani Zadeh announced that part of the $100 billion investment project target of the country will be allocated to the Free Zones Organization. During this trip, he mentioned the inauguration of new airport projects on Kish Island and said: "The projects that were inaugurated today are the result of several years of effort by colleagues in the Kish Free Zone and have a total value of 15 trillion tomans."
The promise to transform Kish into the country's first air hub and then into a digital economy hub and a model for modern free zones has been made while a significant decrease in the number of visitors to this island has affected its previous prosperity. Kish's major markets and tourism-related sectors are experiencing their worst economic period.
Actual Performance of Free Zones
These claims have been made in previous governments as well, but the real output of the free zones' performance has been nothing but accumulated losses, corruption, halted major infrastructure projects, and turning these areas into a political and administrative backyard.
