Kish (IP) - A Memorandum of Understanding (MoU) was signed among the Bank Saderat Iran, the Persian Gulf Petrochemical Company and the Iranian Petroleum Industries Equipment Manufacturers Association in Kish Island and the knowledge-based companies can benefit from a 9 percent tax exemption by operating in Kish Free Trade Zone and so meet the needs of petrochemical companies by selling their products.

Iran Press/ Iran news: For the purpose of utilizing the capacity of domestic companies and boosting production, a Memorandum of Understanding (MoU) was signed among Bank Saderat Iran, the Persian Gulf Petrochemical Company and the Iranian Petroleum Industries Equipment Manufacturers Association in Kish Island, south of Iran.

According to this multilateral MoU signed on Monday morning, a total of 25 trillion riyals will be allocated to companies producing petrochemical equipment in cooperation with Iran's Saderat Bank.

Within this framework, the knowledge-based companies can benefit from a 9 percent tax exemption by operating in Kish Free Trade Zone and so meet the needs of petrochemical companies by selling their products.

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