Jordan's Free Zones Strengthen Kingdom's Productive Capacity, Global Footprint

(MENAFN- Jordan Times) AMMAN - Jordan's free zones have developed into a major economic force supporting the Kingdom's efforts to expand its productive capacity, attract high-value investment and strengthen its presence in global markets, according to Vice-President of the Jordan Free Zones Investors Association, Amer Jayyousi.

In a statement to the Jordan Times, Jayyousi said the establishment of Jordan's free zones in 1973 reflected an early vision to build a strong economic infrastructure capable of supporting the Kingdom's developing industrial and commercial sectors.

This vision sought to position Jordan as a competitive destination for specialised economic activity, backed by extensive government support and an investment-friendly business environment.

"Over the past five decades, Jordan has succeeded in developing six public free zones and more than 35 private free zones, creating an important platform for trade, industry, logistics and investment," he said.

The sector, he added, has also enabled Jordan to play a growing role in supporting the reconstruction and economic recovery of Iraq and Syria, while strengthening the Kingdom's ability to compete for promising regional and international investments.

Jayyousi noted that the success of the free-zone model encouraged Jordan to establish additional specialised investment frameworks, including development zones, industrial estates and special economic zones, most notably the Aqaba Special Economic Zone.

He said these models have broadened Jordan's investment offering and allowed the Kingdom to provide solutions tailored to the requirements of different industries, investors and markets.

"With the support and clear vision of His Majesty King Abdullah, Jordan continues to build global partnerships with major investors and industrial groups, with the aim of attracting and localising investments that generate employment, expand production and contribute to sustainable economic growth," Jayyousi said.

Jordan's network of trade agreements with the United States, the European Union, Gulf Cooperation Council countries and other international partners provides the Kingdom with a competitive advantage that few economies in the region can offer, he added.

Jayyousi said international manufacturers facing rising tariffs or restricted access to major markets could explore investment opportunities in Jordan and benefit from the Kingdom's preferential trade arrangements, subject to the applicable rules of origin and other relevant requirements.

"This gives Jordan the potential to serve not only as an investment destination, but also as a regional production and export base through which companies can reach some of the world's largest consumer markets," he said.

Free zones, special economic zones and development zones will continue to play a pivotal role in Jordan's efforts to strengthen its economy and establish the Kingdom as a reliable investment and industrial partner for global businesses, Jayyousi added."Jordan's success stories over the past 50 years demonstrate the Kingdom's credibility, institutional capacity and genuine commitment to hosting and localising investment," he said.

Jayyousi stressed that Jordan is capable of offering carefully tailored solutions to investors seeking a stable and strategically located base for their future growth and prosperity.

"The foundations are already in place. The next step is to build on Jordan's achievements, further improve the investment environment and present the Kingdom's free zones to the world as gateways to regional and international markets," he concluded.

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