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National Investement Reform Agenda_Jordan

National Investement Reform Agenda_Jordan

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Published by dmaproiect
Facing competition from other regions and growing domestic pressure from a young workforce, a number of Middle East and North African (MENA) countries have recognised the need to implement economic and regulatory reforms.
Facing competition from other regions and growing domestic pressure from a young workforce, a number of Middle East and North African (MENA) countries have recognised the need to implement economic and regulatory reforms.

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Published by: dmaproiect on May 10, 2010
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05/24/2012

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47.

As per early 2005, Jordan has one special economic zone (SEZ) and six public free zones. The
SEZ was established in 2001 by greatly enlarging the old (established in 1973) Aqaba Free Port to
encompass the surrounding urban area, and transferring economic regulatory responsibility for the Zone to
the newly established Aqaba Special Economic Zone Authority (ASEZA).

48.

The free zones are administered by the Jordanian Free Zones Corporation and are subject to
broadly similar regulatory conditions. The oldest, and economically most important, is the Zarqa Free Zone
35 km northeast of the capital Amman. Common to all economic zones in Jordan is a broad sectoral scope.
Zones are generally open to companies involved in industrial production, trade, tourism and other services.
In addition to the public free zones, private free zones, often tailor-made to one specific company, can be
established subject to the approval of the Council of Ministers. Currently the Free Zones Corporations
counts 23 such private zones in Jordan19

.

49.

An interesting recent development relates to the development of the so-called Qualified Industrial
Zones (QIZ), which essentially extends the benefits of the US-Israel Free Trade Agreement
Implementation Act of 1985 to include exports from geographically circumscribed areas in Jordan. The
QIZ rules stipulate that a minimum of 35% of the exported goods’ value must represent local content.

18

Main sources: www.free-zones.gov.jo and www.aqabazone.com. Outside the zones authorities have at their
discretion the granting of partial corporate income tax exemptions for a period up to ten years, selected
economic activities (notably in manufacturing) enjoy preferential tax treatment, and the import of capital
and input goods is generally exempted from duties.

19

Free Zones Corporation (2003).

MENA-OECD Investment Programme

23

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