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Ten reasons to invest in Jordan

Sep 12, 2013
It’s unlikely that you, as a mover, will be investing in Jordan. But here Mohannad Al-Refai, Managing Director of Medex Express Service in Jordan explains some of the reasons that other companies might and, therefore, why you might get the chance to move their staff.
























 

1-  Unique and Strategic Location

Situated at the convergence of Europe, Asia and Africa. Transportation hub of the Middle East. Access to the Red Sea through the Port of Aqaba, and other ports via neighbouring countries.

2-  Stable Political Environment

Dedicated and stable leadership in the Hashemite monarchy, supported by a democratically elected Parliament. Guaranteed freedom of belief, speech, press, association and private property. Firm commitment to a private enterprise system.

3-  Free Market Oriented Economy

The World Economic Forum Global Competitiveness Report has ranked Jordan first in the region in economic growth ahead of both Israel and Egypt. Jordan ranks second in the region in terms of competitive economic policies based on outward-oriented, private sector led approach. Ongoing privatisation of major state-owned enterprises. Significant advances in structural and legal reform.

4-  A Package of Incentives and Exemptions to Encourage Investment

Projects are exempt from income & social services taxes by 25%, 50%, or  75%  for ten years depending on the location and sector of  the project. Imported fixed assets are 100% exempted from customs duties and taxes. Imported spare parts for fixed assets are exempted from fees and taxes, up to 15% of the total cost of the fixed asset. Additional exemption from customs duties and income tax is granted for the expansion, modernisation, or development of existing projects. Hotels and hospitals may purchase furniture and supplies without custom duties once every seven years for renewal purposes.

5-  Access to Major International Markets

Duty and quota-free access to the US market through the Qualifying Industrial Zones (QIZ). Duty free access to EU markets.  Access to more than 10 Arab countries through the Arab Free Trade Agreement, bilateral agreements and favourable protocols with over 20 countries. Member of the Multilateral Investment Guarantee Agency (MIGA).

6-  Free Zones and Industrial Estates

The Free Zones Corporation manages four fully operational industrial parks located in Amman, Aqaba and Zarqa. Nine private free zones in Jordan employ over 4,000 people in industries such as chemicals, fertilisers, and meat packing. The Industrial Estate Corporation  manages  three  fully operational industrial parks in Amman, Irbid, and Al Karak. Newly opened private industrial parks, Al Tajamouat, Ad-Dulayl and Gateway enjoy QIZ designation.

7-  Qualified and Competitive Human Resources

Abundant workforce, young and highly educated population (87% of the population is literate and 17% of Jordanians receive higher education). Highly competitive wage rates.

8-  World Class Infrastructure and Communications

State telephone company operates on a commercial basis, with 40% of the company privatised. Choice of privately–owned Internet service providers. Direct Royal Jordanian flights to 47 major cities in Europe, the Middle East, the Far East, North Africa and  North   America. Served  by 26 international  airlines. Modern highway network. Major trucking lines ensure the movement of raw  materials to and from the port of Aqaba as well as into and from ports of neighbouring countries. Jordan’s port of Aqaba acts as a strategically located gateway to Jordan, the developing Red Sea region, and the Middle East as a whole.

9-  Attractive Investment Climate

Income and social services tax incentives for up to ten years. Total customs exemptions on imported fixed assets. Ease of licensing and registration procedures. Revenues on exports are exempted from income taxes. Export industries are not subject to customs duties on imported raw materials. Free repatriation of capital, profits and salaries.

10- High Quality of Life

Amenities of modern life are readily available and affordable. High quality public and private education provided in Arabic, English, and French.  Health services in Jordan are of international standards at reasonable rates. Developed networking community with active local and international business associations and cultural centres. Traditional festivals, cultural entertainment events, and a wealth of archeological sites. Excellent clubs and restaurants.

 
Photos from top: Wadi Abdoun Bridge in Amman. Amman. Young Jordanians are well educated and enjoy a good quality of life.  By the beach in Aqaba.






How Medex serves the wider area

 

Jordan is a small country but one with a big influence in the surrounding regions.  Mohannad Al-Refai, from Medex said that his company can provide an extended service to most of the surrounding countries.  For example, most shipments to Iraq will be routed through the port of Aqaba in Jordan.  With the emphasis now focussing on the reconstruction of the country and its infrastructure and building a new future for its people, companies are looking for a safe and reliable way to get equipment and products into Iraq.  “We can provide our customers with a global air forwarding and charter service,” he explained.  “Building on that reputation we are providing our customers with access to a variety of aircraft suitable for large and small shipments.”

 

Mohannad also explained that with the opening of the Baghdad & Basra airports to commercial traffic, a number of airlines have plans to resume air service into Iraq.  “We have pre-booked capacity on these flights to ensure service options for customers.”  He also said that he provides a high frequency truck and trailer service to the neighbouring countries of Iraq through a network of agents. “We can combine ground service with air or ocean to deliver customised logistics solutions.”

Syria has plenty of problems, much of which has been graphically reported in the global media.  However Mohannad said that he continuously monitors the situation in Syria and works closely with the UN and Embassies in Jordan to support refugees with consignments of food, clothing, bedding, and medical equipment.

Mohannad also explained that Jordan has been the only country to support the people of Gaza and his company has played its part by providing shipping services through a governmental department controlled directly from the Jordanian Royal Court. 

 

Photo: Mohannad Al-Refai

 
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