‘Aqaba industrial estate among best global free zones’

AMMAN — Aqaba International Industrial Estate (AIIE) has been named in FDI Magazine’s list of “Best in Class” winners among global free zones.

It was commended in three categories: facilities upgrades, infrastructure improvements, and China strategy and engagement, according to an AIIE statement.

In its October/November issue, FDI Magazine, which is part of the Financial Times group, included both special economic zones and industrial estates in its list.

In 2014, Aqaba Special Economic Zone (ASEZ) and AIIE came in ninth and 10th respectively in FDI Magazine’s ranking of Middle East free zones.

Among its achievements in relations with China, AIIE introduced ASEZ to investors in south east China of its own accord. It also signed a joint venture with the Shenzhen Chamber of Investment, and ASEZ and opened a Shenzhen office, the statement said.

AIIE’s managing entity, the Shenzhen Chamber of Investment and Aqaba Development Corporation have also signed a memorandum of understanding to develop and market an AIIE expansion area as a joint Shenzhen-Aqaba project.

The statement added that AIIE has so far created 1,000 new jobs and attracted investment exceeding $300 million, with these figures expected to rise to 3,000 jobs and $700 million of investment once the estate is full.