Jordan Times
Sunday, February 13, 2005
ASEZA to highlight investment
opportunities at 'Amman Outward Mission 2005'
By Rami Abdelrahman
AMMAN — The Aqaba Special Economic Zone Authority (ASEZA) is organising a
three-day event to raise awareness among local investors of investment
opportunities in the zone.
According to the ASEZA Chief Commissioner Nader Dahabi, the event, entitled
“Amman Outward Mission 2005,” will include two days of sessions discussing
investment opportunities in the zone, running parallel to an exhibition for
already existing investments.
“We want to introduce to citizens, investors and public sector officials the
opportunities that were created in the zone hoping to get them to frequent Aqaba
more and hopefully invest in the area,” Dahabi told The Jordan Times.
“We also want to bring about a dialogue for exchanging ideas regarding the
development of the zone and strengthening private-public sectors partnership,”
he remarked.
He indicated during a press conference on Saturday that there are at least JD13
billion of liquidity at Jordanian banks, and that this particular event aims to
attract more direct domestic investments. The main topics, to be discussed
throughout the event between Feb. 15-17, include ASEZ investment environment,
company registration procedures, and ASEZ trade, logistics and industry
services. The topics also include duty-free shopping, privatisation development,
tourism development, and real estate and property leasing loans.
Besides Dahabi,the main speakers include the chief of the Aqaba Development
Corporation, Imad Fakhoury and the director of investments, Saleh Kilani, as
well as other officials and investors.
The ASEZ is a duty-free economic development node for tourism, recreational
services, professional services, multi-model transportation and value-added
industries.
The government gave ASEZA decentralised control over the zone to become a
liberalised, low-tax, duty-free and multisector development area.
The authority charges five per cent on net business income, except banking,
insurance and land transport services which are subject to prevailing income
tax.
It gives sales tax exemptions on final consumption of goods and services except
for a seven per cent sales tax on selected goods, as well as hotel, restaurant
and car rental services. It takes a special tax on alcohol and tobacco.
ASEZA do not take any social services tax, or any taxes on distributions of
dividends and profits, as well as no taxes on lands, buildings or utilised
property.