Aqaba to become 'economic capital'

(ANSA) - London, October 22 - Aqaba Special Economic Zone Authority (ASEZA) Chief Commissioner Kamel Mahadin said on Wednesday that Aqaba, approximately 330km south of Amman, will become an important economic capital in the region because of investment incentives which are creating a competitive environment, attracting capital and major regional projects.
    Mahadin made his comments during the second Arab-British Economic Forum in London.
    Furthermore, he praised King Abdullah II's support of the Aqaba Special Economic Zone, which has turned it into an integrated economic system that contributes to advancing economic growth and community development, along with making fertile ground for the growth of business and investment.
    Mahadin also pointed to the king's efforts to protect Jordan from the risks that beset the region and neighboring countries, as Jordan endures the "burdens and endurance" while continuing to be a security - and politically stable - oasis. He called on friendly countries to support Jordan by assuming a part of the burden caused by hosting large numbers of Syrian refugees, a factor which has led to significant pressure on many sectors, especially education, health and water.
    ASEZA's Chief Commissioner highlighted the challenges facing the kingdom's economy, which require full participation from the public and private sectors to address those problems through international campaigns promoting the country's investment environment, in collaboration with the Aqaba Development Corporation (ADC), ASEZA's investment arm.
    He also said he valued the role being played by the Jordan Chamber of Commerce and, in particular, the Aqaba Chamber of Commerce.
    Mahadin noted that the Jordanian workforce in ASEZA has increased from 35% to about 75% since the establishment of the zone, adding that 50% of the workforce in the logistics sectors are Jordanians, while 75% of those employed in the tourism sector are Jordanians.
    ASEZA's Commissioner for Economic Development and Investment Affairs, Sharhabeel Madi, said that tourist traffic to Aqaba rose by 13% in the first half of this year, accounting for almost 300,000 tourists of various nationalities.
    Madi added that the total capital of companies in Aqaba since the beginning of this year has exceeded JD2 billion, indicating the success of Jordan's policy in attracting companies from all economic sectors.