Aqaba Special Economic Zone Authority :
The government of Jordan established the Aqaba Special Economic Zone Authority (ASEZA) in 2001 with the goal of ensuring Aqaba's continued commercial and cultural significance in the 21st Century.
The ASEZA manages a multi-sector development zone, known as the ASEZ, that benefits from low taxes and duty free status. It provides diverse investment opportunities in a world-class business environment, including tourism, recreational services, professional services, multi-modal logistics, value-added industries, and light manufacturing.
Aqaba, encompassing the entire Jordanian coastline (27 km), is home to 12 seaports, an international airport, and the historic city of Aqaba. The city is renowned for its natural beauty, as well as its rich cultural heritage
The ASEZ is overseen and regulated by the ASEZA, which holds the authority to manage, regulate, and operate as a municipality within the ASEZ. The ASEZA's objective is to develop the ASEZ into a hub of excellence and best practices in Jordan.
ASEZA remains strongly committed to its objective of transforming Aqaba into a competitive international investment destination. This is accomplished through the establishment of a streamlined investment environment, promoting private sector involvement in all aspects of the Zone's development and operations, and ensuring the provision of top-notch infrastructure and services to the Aqaba community. To achieve this, ASEZA has adopted a comprehensive Master Plan that encompasses various development activities in the Economic Zone, covering different sectors such as port, urban, tourism, commercial, and academic investments. Additionally, ASEZA operates as a service-oriented organization, offering a one-stop shop for investors to address all their needs.
The incentives offered by ASEZA include attractive benefits for investors:
A mere 5% income tax on net profit
Exemption from customs duties
No sales tax on the majority of goods and services consumed
No restrictions on foreign equity or currency exchange
Exemption from income tax for registered enterprises operating in logistics centers, namely those involved in transit, export, and re-export
Discount on the handling of transit shipments 40%
Discount on containers exported from ASEZ 50%
Discount on Suez Canal fees for goods shipped to ASEZ 50%
Streamlined customs procedures using ASYCUDA
Access to a potential customer base of 1.5 billion people in 161 countries through trade agreements
The Investor Affairs Department (IAD) of ASEZA diligently focuses on creating and enhancing the investment environment in the area. It operates with an open economic mindset, staying up to date with developments and changes in the surrounding contexts. The IAD works to eliminate obstacles faced by investors by simplifying procedures and fostering transparency and direct communication.
ASEZA strives to ensure the continuity and sustainability of existing investments in the region, building upon previous achievements. Consequently, ASEZA has developed a unified special investment window that adheres to global best practices and provides comprehensive services tailored to business needs. This streamlined approach includes simplified procedures for registering and licensing various economic activities. For example, representatives from the Ministry of Industry and Trade, as well as the Amman Chamber of Industry and Aqaba Chamber of Commerce, are permanently located at ASEZA, authorized to assist with the registration of companies. This unified window enables investors to take advantage of exemptions and benefits provided by law for registered institutions. It also facilitates processes related to land purchase and lease, building permits, residence permits, work permits, visas, and relevant activity permits, all in one central location.
Updated on Saturday ,December 9th ,2023