Jordan Times
Sunday, February 12, 2006
Ceremony and seminars to
mark 5th anniversary of ASEZ this week
By Mahmoud Al Abed
AMMAN — A series of activities this week will
blend the achievements of the Aqaba Special Economic Zone Authority (ASEZA) over
the past five years with future development plans for the duty- free area.
In celebrating the fifth anniversary of Aqaba Special Economic Zone (ASEZ), an
official ceremony will be held on Wednesday afternoon to be followed on the
following day by five seminars.
At those events, investors, ASEZA top officials and key community personalities
in the port city will examine the various aspects of the ambitious scheme, which
was created to help the Kingdom overcome the poverty and unemployment epidemics
by attracting at least $6 billion in investments and creating 70,000 jobs by
2020.
At a press conference held at Grand Hyatt Hotel in Amman on Saturday, ASEZA
Chief Commissioner Nader Dahabi said the seminars will address issues like the
business environment and the real estate investments besides other future
promising ventures in ASEZ.
Among the main speakers will be the investors representing Saraya Aqaba, Ayla
Oasis, Tala Bay, the Jordanian-Kuwaiti Holding Company, in addition to Aqaba
Development Company (ADC), ASEZA's investment arm and virtually the partner of
many investors in the area.
Representatives of banking institutions, including the Exports and Finance Bank
and the Arab Banking Corporation will also brief participants in the event on
their experience in ASEZA, especially in retail banking and individual loans.
Such banking services have helped Aqaba residents buy homes and other assets,
such as boats, to improve their living conditions.
Dahabi told reporters at the presser that the two-day festivities will also be a
chance to sign new agreements with new partners. He did not give further
details, keeping the full story to be told during the event, which will be held
under the Royal patronage under the theme: A Vision Materialising.
Sponsors of the ceremony took turn to brief the press on their experience as
ASEZA's partners saying they have figures and plans to announce when hundreds of
media people from Jordan and overseas, officials and key figures meet in Aqaba
later in the week.
Arab Bridge Maritime Company Manager Nabil Lutfi, said that since Aqaba was
declared a special economic zone, his company, a joint Jordanian-Iraqi-Egyptian
venture, witnessed "stunning growth" in terms of traffic and profits.
"Last year, a million people crossed to and from Nuweibeh in Egypt on the
company's ferries and fast boats," he added noting that the actual numbers of
profits will be announced by the company's top executive during the ceremony.
He stressed that the credit for much of the success, the 18-year-old Arab Bridge
achieved over the past few years, goes to ASEZA.
ASEZA, Dahabi said, has attracted investments worth $2 billion in five years,
exceeding expectations. But in terms of job creation, the authority is still
struggling with the so-called culture of shame, a nationwide ill that precludes
people in the working age from accepting certain "inferior jobs" such as
construction work.
However, plans are under way to change that attitude and encourage youth to go
for the thousands of jobs being opened with every project that is launched in
the area.
Saraya Aqaba, for example, announced last month that it would create 9,000 jobs
during the construction of the seafront city and after the project's several
facilities go into service.
These include five five-start hotels, shopping facilities and others. ASEZA has
made sure that a sufficient number of Jordanians has been trained to fill in the
emerging vacancies.