Committee working on taking Aqaba to higher investment, competitiveness levels

AMMAN — A public-private-partnership (PPP) advisory committee is currently working to enhance the  investment climate and increase the competitiveness of the Aqaba Special Economic Zone (ASEZ).

Kamel Mahadin, chief commissioner of the Aqaba Special Economic Zone Authority (ASEZA), heads the new committee which includes Samer Asfour,  director of economic affairs department at the Royal Court, members from the public and private sectors, besides local community representatives.

The chairman said  on Sunday that the momentum was empowered by His Majesty King Abdullah’s directives which stressed the importance of team work and coordination among all parties in Aqaba to implement strategic projects, attract investments and create more jobs to improve the living standards for the citizens there.

Noting that the committee has started to work on the means to implement the Monarch’s vision following his recent visit to  the port city, Mahadin said the main task was evaluating the current situation in Aqaba to come up with a clear vision for the future of the city, paving the way to transform it to a world class business hub, leisure destination and economic development zone.

According to the ASEZA chief, members of the committee discussed during a recent meeting current investment atmosphere in Aqaba, focusing on compatibility of the investment regulations with the Monarch’s vision.

The committee stressed the need for a thorough review of the draft investment law to ensure that it achieves its objectives, Mahadin, who served as water and irrigation minister several years ago, said.

He added that within its mandate and goals to eliminate impediments, the committee reviewed the investment map and determined the saturation level in each sector, to further offer competitive and feasible investment opportunities in accordance with the ASEZA’s master plan.

The members also underlined the importance of the PPPs as   comprehensive long-term gains to touch the life of all segments in the Jordanian society, he noted.

Committee members emphasised the need to encourage the private sector to implement corporate social responsibility programmes to ensure sustainability of the development process as well as engagement of all social segments.

According to Mahadin, the committee also called for revisiting ASEZ’s master plan and strategies with more focus on the opportunities and incentives in Aqaba, as the city is witnessing development of a comprehensive port community plan, which includes creating and enhancing port facilities, particularly ports designated to handle energy products.

The committee includes representatives from ASEZA, Aqaba Development Corporation, major developers in Aqaba from the tourism, real-estate, transport and logistics and industrial sector.