The Aqaba Development Corporation (ADC), the central development body for the Aqaba Special Economic Zone (ASEZ), hosted a cocktail reception for the US-Middle East and North Africa Trade and Investment Conference, which was organized by the Jordanian American Business Association at the Kempinski Hotel, Dead Sea.
During the conference, ADC highlighted the tremendous growth and development boom that ASEZ has been witnessing, as well as the unique investment opportunities available in the Zone for Arab and international investors alike. The Trade and Investment Conference was attended by Prime Minister Eng. Nader Dahabi, US Secretary of Commerce Mr. Carlos Gutierrez and ADCís Chairman and CEO Eng. Emad Fakhoury.
The cocktail reception was attended by countries from the Middle East, North Africa and the United States of America and was hosted by Eng. Fakhoury, who highlighted the initiatives taken by the Jordanian public and private sectors to develop the national economy and create an attractive investment environment, in line with His Majesty King Abdullahís vision to continuously develop Jordan and all its sectors.
Fakhoury said, ďWe are honored to have played a role in making the Trade and Investment Conference a success through hosting a prestigious cocktail reception for the leaders from investment sectors around the world. This initiative goes hand in hand with ADCís role and ASEZAís vision to attract investments to Jordan as a step towards achieving the comprehensive development plan of our national economy.Ē
During the conference, a sub-regional panel, which included countries such as Iraq, Bahrain, Kuwait and Jordan discussed the achievements and the investment opportunities available in those countries. Eng. Fakhoury, who was part of the panel, briefed participants about the major projects currently taking place in Aqaba and underlined the investment opportunities that are available in the industrial and tourism sectors, as well as the enabler projects which play a big role in the development of Aqaba.
One of ASEZís most important projects that Fakhoury focused on during the conference was the port relocation, which is a major part of ADCís goal of completing the Zoneís Master Plan by the year 2020. With this project, Aqabaís inner harbor will be transformed into a retail, commercial, residential and entertainment complex while the southern coastal zone, a nationally protected marine park, will be developed into a 125 hectare tourist haven consisting of sandy beaches, resorts, hotels, residential villas and marinas.
At the conference, Dahabi highlighted the solid commercial ties between Jordan and the USA, initiated with the free trade agreement back in 2001, which was the third international and the first regional free trade agreement signed by the USA. Dahabi also highlighted other free trade agreements signed between Jordan and European and Asian countries, which benefit from Aqabaís added value as a gateway to the region.
ADC has been instrumental in the success of the Aqaba Special Economic Zone Authority (ASEZA), taking on the role as its development partner for all investors interested in taking advantage of the countless opportunities that ASEZ has to offer. Since it was established in 2004, ADC has played a significant role in promoting Aqaba as a regional hub for investments that will forever change the face of this city on the Red Sea.
ADC facilitates and supports every investment in ASEZ through providing investors with invaluable insight on the opportunities available in the zone and the various incentives and benefits bestowed on investors. Furthermore, ADC is a partner in numerous investment projects and promotes the investment environment in Aqaba through organizing conferences and participating in the worldís most renowned exhibitions. So far, ADC has generated JD4 billion worth of investments in Aqaba.