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Legal and preferential conditions for investment in Iranian Free Trade Zones

03-11

Investors in Iran's Free Trade Zones enjoy the following preferential conditions:

Legal persons, domestic and foreign enterprises, and international organizations may independently invest or establish joint ventures or branches in Iran's Free Trade Zones.

Foreign investors can freely conduct economic activities in this region.

The legitimate rights and interests of foreign investors are protected by the Iran Free Trade Zone Authority.

The Iran Free Trade Zone Authority, through contracts with the Central Bank of Iran, other banks, and insurance companies, compensates for potential losses to investors.

Profits and benefits obtained by foreign investors from economic activities in Iran's Free Trade Zones can be transferred abroad.

Except for goods that violate Islamic regulations and relevant regulations, all other goods can enter the Free Trade Zone.

Incoming goods can be stored in Free Trade Zone warehouses.

Regulations related to labor employment, social security, and issuing visas to foreigners must comply with the special legal provisions of the Free Trade Zone.

Legal persons and legal representatives engaged in economic activities in Iran's Free Trade Zones are exempt from income tax for fifteen years from the date of obtaining their business licenses.

Commercial trade conducted between Iran's Free Trade Zones and other countries is exempt from import and export regulations after customs registration.

Products produced in Iran's Free Trade Zones that enter other regions of the country are exempt from some tariffs and trade profit taxes to the extent of the value added in the Free Trade Zone.

Capital and profits obtained in Iran's Free Trade Zones can be transferred to any part of the world or any region within the country.

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The 41st PLMA Show in the Netherlands has concluded successfully, with Zhenghe Exhibition leading a hundred companies to shine across Europe.

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Zhenghe Exhibition visited Nigerian automotive technology and other industry associations to promote cooperation on the 2025 Nigeria (Lagos) China Goods Expo.

From January 3rd to 6th, 2025, representatives of Zhenghe Exhibition's overseas staff successively visited the secretariat of the Nigerian Automotive Technicians Association (NATA), the Amalgamated Union of Automobile Motor Mechanics and Technicians of Nigeria (AUOMMATON), and the Motor Mechanics and Technicians Association of Nigeria (MOMTAN). This visit primarily focused on in-depth discussions and exchanges regarding cooperation for the 2025 Nigeria (Lagos) China Commodities Fair. During the meetings, representatives of Zhenghe Exhibition's overseas staff introduced the basic situation of the Nigeria (Lagos) China Commodities Fair to the heads of the business associations. The heads of the various business associations acknowledged the significant achievements made by the exhibition in recent years. During the discussions, the three industry association leaders provided detailed information about their respective associations. As leaders and promoters of associations related to the automotive industry in Nigeria, these three associations have a wide influence in Nigeria and even West Africa. Against the backdrop of continuously deepening and upgrading China-Africa cooperation, they expressed high expectations for actively promoting trade cooperation between Nigeria and China in the automotive industry. The heads of the associations also stated their willingness to work with Zhenghe International Exhibition to jointly promote the continuous development of the Nigeria (Lagos) China Commodities Fair, uniformly organize member units to participate in the exhibition, and conduct one-on-one matchmaking discussions with Chinese exhibitors. As Africa's second-largest economy and most populous country, Nigeria has a huge demand for automotive and auto parts products, largely relying on imports. In Nigeria, over 90% of Nigerians tend to choose 'tokunbo' (used cars), which makes the 'tokunbo' distribution business very profitable in Nigeria. With the Nigerian government relaxing age restrictions on imported used cars, the volume of used car imports will further increase. Consequently, the auto parts market, both upstream and downstream of Nigeria's used car industry chain, will also see more opportunities. After years of operation by Chinese automakers, Chinese cars have established considerable 'prestige' in Nigeria. At the same time, the scarcity of local car repair outlets and the high cost of spare parts in Nigeria also indicate immense potential for Chinese auto parts exports to the Nigerian market.

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Deep cultivation of fertile soil ensures abundant blossoms - The 2025 Nigeria Lagos China Commodities Fair embarks on a new journey!

Nigeria is an important trade partner and investment destination for China in Africa, and also China's largest contracted project market in Africa. In 2023, the new contract value for Chinese enterprises' contracted engineering business in Nigeria reached 10.45 billion USD, with a turnover of 3.98 billion USD. On September 3, 2024, China and Nigeria issued a joint statement announcing the establishment of a comprehensive strategic partnership, promoting the building of a high-level China-Nigeria community with a shared future, and explicitly strengthening cooperation in areas such as infrastructure construction. Chinese Products are Hot-selling in the Nigerian Market under the Framework of China-Africa Cooperation According to data from the General Administration of Customs, from January to July 2024, China's imports and exports with Africa totaled 1.19 trillion CNY, a year-on-year increase of 5.5%. In 2023, China-Africa trade reached a historical peak of 282.1 billion USD, a year-on-year increase of 1.5%, demonstrating the strong resilience of China-Africa trade. Among them, trade between Nigeria and China is booming. In 2023, the total trade volume between China and Nigeria soared to an astonishing 281.777 billion USD, with China's exports to Nigeria reaching 172.469 billion USD, highlighting the immense appeal of Chinese products in the Nigerian market. The main hot-selling products fall into the following major categories: 1. Electromechanical Products and Agricultural Machinery Products From efficient power generation equipment to reliable electrical products, China's electromechanical products have continuously met Nigeria's growing needs and directly promoted the rapid development of its infrastructure construction. In addition, hardware tools, power tools, construction machinery, and other electromechanical products are also very popular. The import of agricultural machinery, food machinery, and packaging machinery has adapted to the development needs of Nigeria's agriculture and food processing industries. At the same time, industrial manufacturing-related electromechanical products such as machine tools provide strong support for Nigeria's industrial development. 2. Textile and Garment Products Nigeria is Africa's most populous country, with a current population exceeding 227 million, leading to huge domestic market demand. Textiles and clothing are major export items from China to Nigeria, accounting for 15% of China's total exports to Nigeria. Statistics show that in 2022, Nigeria's textile and garment imports reached 110 million USD, with China being its largest source country, accounting for approximately 47% of the total imports, almost half. As Nigeria's urbanization accelerates, more young people are eager to express themselves. In terms of fabrics, wax prints with unique craftsmanship and patterns, and brightly colored African jacquard fabrics are popular; for finished garments, shirts and sportswear with Chinese cultural elements or designs that align with local aesthetic preferences are highly sought after; regarding accessories, exquisite embroidery and unique buttons could also be among the featured products. 3. Auto Parts Products Nigeria is considered Africa's largest potential automotive market. In Nigeria, over 90% of Nigerians prefer "tokunbo" (used cars), making the "tokunbo" distribution business very profitable in Nigeria. With the Nigerian government relaxing age restrictions on imported used cars, the volume of used car imports will further increase. Therefore, the auto parts market, both upstream and downstream of Nigeria's used car industry chain, will also see more opportunities. 4. Wigs and Hair Products Eight out of every 10 Nigerian women wear wigs. 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In the blink of an eye, Zhenghe Exhibition has been organizing the Nigeria (Lagos) China Commodities Expo for over 17 years. Throughout the 53 years of China-Nigeria diplomatic relations, Zhenghe Exhibition has made every effort to actively assist in deepening the economic and trade relations between enterprises of both countries! Over these 17 years, we have organized thousands of enterprises from over 20 provinces and cities, including Hebei, Jilin, Liaoning, Shandong, Fujian, Zhejiang, Henan, Hubei, Hunan, Jiangsu, Anhui, Guangdong, Beijing, Shanghai, Tianjin, and Chongqing, to participate in the exhibition. Exhibits covered various fields such as agricultural machinery, vehicles and parts, construction machinery, hardware building materials, power equipment and new energy products, textiles and garments, beauty products, and daily necessities. 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