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Reasons to Invest in Aqaba

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Reasons to Invest in Aqaba

Reasons to Invest in Aqaba

1. Strategic Location

Aqaba is located in the south of Jordan on the northern tip of the Red Sea. The city is easily accessible from around the world by air, land and sea. There are flights from all major airports to Amman the capital of Jordan or direct to King Hussein International Airport in Aqaba. Airlines serving Aqaba include regular and chartered flights namely Turkish airlines, Royal Jordanian, Norwegian, Ryan Air, EasyJet, Nord Wind and Ural Air.

 

Aqaba Strategic Location 

 

Moreover, Aqaba is connected to the world via, 

  • An international airport. 
  • Ports and cruise ships terminal. 
  • Safe and frequent land transportation.

2. World Class Infrastructure

The Zone has World class infrastructure and utilities; 97% of Aqaba is served by modern road networks, high speed internet connectivity, reliable banking services, diversified energy resource, labor housing villages, talent pool and qualified labor.

3. Investment Oriented Legislative Framework

Investments in Aqaba are friendly legislative framework, with incentives that offers investors fixable contractual framework, efficient decision making process, and single point of contact for investment needs.

ADC managed to maximize the attraction of private sector developers/operators through the establishment of public private partnerships (PPPs), BOT, Lease Agreements and other contractual approaches.

4. Multi-Modal Transportation Network

Aqaba’s logistics potential is massive with cost effective handling and storage processes 24 Hour customs clearance services, access Levant region and a gateway to rebuilding Iraq and Syria, Access to 1.5 billion consumers in 161 countries through Free Trade Agreements.

Aqaba’s Multi modal transportation network;

Sea

Sea

Air

Air

Land

Land

5. Competitive Investment Environment

Aqaba is a tax haven, with only 5% income taxes on net profit, no custom duties, no sales tax on final consumption of vast majority, of goods and services, no restrictions of foreign equity or foreign currency exchange. 

Other incentives include: 

  • Only 5% income tax on net profit 
  • No customs duties 
  • No sales tax on final consumption of vast majority of goods and services
  • No restrictions on foreign equity or foreign currency exchange
  • No income tax for registered enterprises operating in logistics centers (transit, export, re-export). 
  • 40% Discount on Handling of Transit Shipments.
  • 50% Discount on Containers Exported from ASEZ.
  • 50% Discount on Suez Canal Fees for Goods Shipped to ASEZ.
  • Automated Customs Procedures (ASYCUDA).
  • Access to 1.5 billion customers in 161 countries through trade agreements.

6. Stream Lined Investment Producers (One-stop shop)

ASEZA is the autonomous institution responsible for the management and development of the Zone which operates a One Stop Shop for all investment services streamlines e-enabled services for investors, residents, and tourists, Smooth and efficient procedures with 33 services (E-enabled) Such services include Visa, residency permits, enterprise registration and permitting, building licensing, foreign labor permits, social security as well as taxation. 

7. Internationally Renowned Touristic, Historical, And Cultural Destination

Aqaba is blessed with great weather throughout the year; hot and breezy in summer, warm and pleasant in winter. Aqaba is a year-round resort that has something to offer for everyone, and is a popular destination amongst all age groups. Activities in Aqaba include exciting water sports in Aqaba from sailing to diving or immersing desert activities from camel safaris to explorations in Petra.

8. High Quality Living Standards

Aqaba offers high quality of life, affordable living expenses as well as an opportunity to explore and enjoy a region that is rich with culture, heritage, and endowed with all the splendor the Red Sea has to offer. Living in Aqaba gives residents the opportunity not just live in a modern coastal city but also thrive and lead an enjoyable experience. 

9. Living Community of Rich Culture and Heritage

Aqaba is within close proximity to Wadi Rum located 66 kilometers north of Aqaba and Petra located 120 km north of Aqaba. Both are internationally recognized tourism sites and on the UNISCO’s list of world heritage sites. 

The city is also a 3-hour drive from the Dead Sea and the Baptisms site.

10. Decentralized Governance Model

Aqaba Development Corporation (ADC), the central development arm of the ASEZA, was launched in 2004 and is owned by the Government of Jordan and ASEZA . 

The company’s role includes attracting new investments to ASEZ, developing ASEZ multi modal transport network, creating world-class infrastructure and superstructure for the logistics, industries and ports sectors. ADC is also mandated to launch of strategic real estate development projects, create business enablers and Develop and manage strategic assets including ports, airports and land. It strives to develop these assets and optimize private sector participation in their development and management so as to stimulate the economy and promote growth and development of ASEZ and, thus, Jordan. 

ADC, and since its launch in 2004, succeeded in attracting new investments, forming partnerships with the private sector and package a number of investment opportunities in several sectors.   

Four Main Development Agreements were signed between the ASEZA and ADC. (Development, management, operation, marketing and transfer of ownership):

  • Development and Management Agreement: Under which ASEZA has delegated all its responsibilities for the development and management of the airport, ports, main strategic utilities and land of ADC.
  • Main Development Agreement for Aqaba Special Economic Zone
  • Main Development Agreement for Aqaba Port
  • Main Development Agreement for Airport.


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