The Aqaba Special Economic Zone Authority (ASEZA) has signed a Memorandum of Understanding (MOU) with Mauritanian Nouadhibou Free Zone Authority and The Islamic Corporation for the Development of the Private Sector (ICD), a multilateral organization affiliated with the Islamic Development Bank (IDB) Group.
The Chief Commissioner of ASEZA H.E Dr. Kamel Mahadin signed the MOU on behalf of ASEZA while the Mauritanian Nouadhibou Free Zone Authority and ICD were represented by Mr.
Fared Masmoudi, the Director of Business Development and Partnerships.
The MOU signed at the ASEZA in the presence of the ASEZA commissioners aims at creating a cooperation and exchange of knowledge and experience framework and consequently developing cooperation between the Hashemite Kingdom of Jordan and the Islamic Republic of Mauritania by utilizing the successful economic and development success stories both countries witnessed.
According to the MOU signed the ICD will oversee a number of technical and knowledge exchange programs between ASEZA and Nouadhibou Free Zone utilizing the Aqaba's success as a unique special economic zone. Cooperation areas include capacity building and institutional development for the human resources at Nouadhibou Free Zone as well as the fields of port services, infrastructure, urban planning, facility management, investment development, comprehensive project development and management administration and quality monitoring.
H.E Dr. Kamel Mahadin, stated that ASEZA strives to establish cooperation and partnership with Arab institutions of similar vision and mandate as this eventually leads towards developing ban Arab economic cooperation.
Mahadin noted that ASEZA is committed to supporting the development of the Nouadhibou Free Zone and presenting its successful experience to benefit Mauritania by sharing its experience and know-how and assist in preparing needed studies to insure the success of the zone and consequently the Mauritanian economy.
Mahadin also commended this step being initiated by the Islamic institution adding that it will play a significant role in increasing technical cooperation aiming at developing the capacity of parties involved in MOU.
Mr. AlJeelani wld AlSheikh, the Secretary General of Nouadhibou Free Zone expresses his happiness to have this MOU signed, noting that both ASEZA and Nouadhibou have much in common which will insure a smooth process as far as setting a strategic work plan to achieve the MOU's goals.
Mr. Masmoudi, the Director of Business Development and Partnerships of Nouadhibou Free Zone Authority said that the Islamic institution realizes and believes in the importance of utilizing the success witnessed by pioneering economic initiatives such as ASEZA.
Masmoudi stated "The Islamic Corporation for the Development of the Private Sector and in terms of recognizing the importance of benefiting from the experiences of the leading economic zone developers and to improve the business environment has worked to support the efforts to launch Nouadhibou Free Zone in 2011 from the inspirational experience of Aqaba Special Economic Zone as an International and regional multi-model regulator in managing the economic zone from all sectors within an attractive environment".
He indicated that Nouadhibou Free Zone is not an isolated quarter of the local environment, but a priority economic zone efficiently evolving into the socio-economic and environmental context of the region. It is designated especially for commercial or industrial activities as well as for seaport or airport services, or for support functions which will be created within the zone.
The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral organization affiliated with the Islamic Development Bank (IDB) Group. It was established by the IDB Board of Governors in Jeddah, Kingdom of Saudi Arabia in 1999. It is mandated to support the economic development of its member countries through provision of finance to private sector projects in accordance with the principles of the Shari'a law.
ICD finances projects that are specifically geared to creating employment opportunities and boosting exports.
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