Jordan Times
Tuesday, August 9, 2005
Last production inputs to be
exempted from customs duties soon Zu'bi
AMMAN (Petra) Industry and Trade Minister Sharif Zu'bi told industrialists on
Monday that the remaining 104 production inputs will soon be completely exempted
from customs duties in a bid to promote the Kingdom's investment environment.
So far, the ministry has exempted 216 production inputs, he said.
The minister was speaking during a meeting organised by the Investors'
Association of King Abdullah II Industrial Estate in Sahab, in cooperation with
the Amman Chamber of Industry (ACI) and the Jordan Industrial Estates
Corporation.
ACI President Hatem Halawani and other investors commended the exemption plan
and underlined the need for speedy measures in this regard.
Halawani called on the government to reconsider its decision to hike fuel
prices, noting its adverse impact on the industrial sector.
During the meeting, attended by Labour Minister Bassem Salem, Zu'bi referred to
the plan to merge the Kingdom's five investment institutions saying that they
are scheduled to become four by the end of this year and three by the end of the
next year.
Zu'bi highlighted a plan to amend the Investment Promotion Law and to reduce the
income tax on industrialists from 15 per cent to 10 per cent, stressing the
government's commitment to liberalise the transport sector by October 2005.
He stressed the need to strengthen the partnership between the public and the
private sectors in all fields.
The ministry is serious about the dumping law and the protection of national
products and industries, he told the audience.
Amman Chamber of Commerce Chairman Haidar Murad emphasised the need for further
incentives to boost the industrial sector.
Meanwhile, Salem said the amendments to the Social Security Law do not hamper
labourers' rights, noting that the changes are still being examined by the
Cabinet's legislation bureau.
According to Salem, the Labour Ministry plans to conduct a study on the
conditions of guest workers, after consulting with all concerned parties,
pointing out that there are around 450,000 guest workers in the Kingdom.