The Investment Law defines the rules governing investment in technology zones. Article 32 states that the Prime Minister, based on a proposal from the Board of Directors of the relevant authority and at the request of the minister responsible for communications and information technology, may grant licenses to establish technology zones in the field of information and communication technology (ICT).
These zones may include activities such as:
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Manufacturing, designing, and developing electronics
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Data centers
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Outsourcing activities
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Software development
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Technology education
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Other related or complementary activities
All of the above must comply with the provisions outlined in the executive regulations of this law.
According to the same article:
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Additional activities may be added by decision of the Prime Minister, based on a joint proposal from the competent minister and the minister responsible for communications and information technology.
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All tools, equipment, and machinery necessary for the licensed activity within these technology zones are exempt from taxes and customs duties, in accordance with the conditions and procedures specified in the executive regulations.
Projects established within technology zones enjoy special incentives stipulated in Article 11 of this law, depending on the sector in which they operate.
Each technology zone shall have a Board of Directors, whose formation is decided by the minister responsible for communications and information technology in coordination with the relevant minister. The board is responsible for:
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Setting the rules and standards necessary for conducting activities in the zone
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Approving the establishment of projects within the zone’s boundaries