Jordan Times
Friday, January 7, 2005
JIB to consider more incentives to investors in QIZs
AMMAN (Petra) — Jordan Investment Board (JIB) Chief Executive Officer Reem Badran on Thursday downplayed the adverse impact of the Qualifying Industrial Zones (QIZs) agreement that Egypt signed with the US and Israel.
Badran indicated that studies will be conducted to examine the feasibility of providing more incentives to investors in Jordan's QIZs, particularly with regard to lowering banks' guarantees and guest workers' work fees.
Studies will cover ways to ease and speed up the transport of the production input and output materials, she added.
The JIB official said she reviewed with investors the issue of the facilities required and listened to their suggestions to determine what can be provided to propel the investment environment.
She highlighted some of the privileges that are only present in the Kingdom's QIZs, such as the eight per cent added value from Israel, in addition to the relatively short distance and the little time needed for the transport of goods between Jordan and Israel.
Badran pointed out that the country's QIZs have won investors' confidence as a result of the incentives provided to them and the recently adopted legislation, in addition to the availability of qualified workforce.