Zarqa, Oct. 7 (Petra) — Industrial Estate Company (JIEC) Director
General Odai Obeidat lauded the Cabinet’s approval of incentives and
exemptions to attract investment in vehicle assembly and
manufacturing in the Zarqa Development Area.

Obeidat told Jordan News Agency (Petra) that JICE is holding talks
with several investors interested in the automotive sector. He said
the package is in line with King Abdullah II’s directives during a
visit to the Zarqa Industrial Estate to strengthen investment and
provide more incentives for value-added investment.

He said the incentives strengthen the area’s standing as a
destination for industrial investment in the automotive sector and
related feeder and supporting industries. He said growth in the
sector could benefit supporting industries, supply chains and
logistics services.

Obeidat urged investors and businesses to use the package and explore
opportunities in the area. He said JICE is ready to provide
facilitation and support at every stage of their projects.

The Cabinet approved the package at its session on Tuesday. Full
assembly or manufacturing projects receive greater support for
operating costs, including a 70 percent subsidy on electricity prices
for five years and a 60 percent cut in land prices inside the Zarqa
Development Area.

The projects get support for 75 percent of container handling costs
at Aqaba Port, and a 75 percent deduction of infrastructure costs
owed to the official body if the investor builds the infrastructure.
The projects receive a 75 percent exemption from land registration
fees and from the sales tax on the property hosting the economic
activity.

The package cuts the special tax on Jordanian-origin vehicles by 100
percent for 10 years, whether hybrid, electric or gasoline-powered.
It includes other specific exemptions related to registration and the
customs declaration.

//Petra// NQ