traced back to the 1970s. Advantages Free-trade (FTZ) and special economic zones (SEZ) have been established to provide additional investment incentives such as: 20 years tax-exemption (15 years, before 2014); no entry visa requirement; 100% foreign ownership possible; flexible employment regulations; flexible monetary & banking services; extended legal guarantees & protection. Locations As of January 2010, there were six free-trade zones (FTZ) and 16 special economic zones (SEZ) in Iran. More FTZ and SEZ are planned in Iran. Outward FDI Iran has made substantial investments abroad. The main agencies in charge are the Iran Foreign Investments Company (FDI) and the Central Bank of Iran (Forex). Broadly speaking, these investments can be categorized as FDI and foreign portfolio investments: Outward FDI include: Joint car factories abroad (e.g. Syria, Azerbaijan, Senegal, Belarus, Venezuela) Various joint petrochemical plants Various power plants Portfolio investments include: National Development Fund portfolio investments abroad. Foreign exchange reserves held abroad (see also: Iranian frozen assets) Partial ownership in: Daimler Benz (sold after its merger with Chrysler) Thyssen Krupp (Germany) Eurodif (see also: Nuclear program of Iran) Shah Deniz gas filed in the Caspian Sea Oil and gas field in North sea (UK) Various hotels, hospitals and agricultural enterprises, mostly in the MENA and Africa regions. Skyscraper in Manhattan, New York (seized) All embassies and many commercial buildings belonging to the state including banks (e.g. Naftiran Intertrade in Switzerland) Oil pipelines in the ME, including in Israel (see also: Transport in Iran) Besides, Iranians citizens and Iranian citizens abroad, as individuals, have made substantial investments in Dubai (e.g. real estate, trading companies) and hold significant portfolio investments in various companies throughout Europe, China and the United States. Wealthy Iranians, companies and state-backed buyers will invest up to $8.5 billion in overseas real estate over the next five-to-10 years (2016). See also Economy of Iran National Development Fund - Iran's sovereign wealth fund Asalouyeh Iran's outward FDI in oil fields Investment promotion agency List of Iranian companies Privatization in Iran Tehran Stock Exchange Iran Chamber of Commerce Industries and Mines - Including information on commercial dispute resolution Iran International Exhibitions Company Organization of Investment Economic and Technical Assistance of Iran Trade Promotion Organization of Iran Government of Iran Next Eleven - list of countries having a high potential of becoming the world's largest economies in the 21st century by Goldman Sachs EU-Iran Forum References Bibliography Books Investment guide General statistics