Aqaba special economic zone, Turkish free zones ink MoU

Aqaba Special Economic Zone Authority (ASEZA) and Turkish Free Zones (TFZ) on Wednesday signed a memorandum of understanding (MoU) covering the exchange of expertise in information technology and the development of free zones. The MoU also covered drafting joint plans to attract investments, develop legislation to regulate economic activities especially tax systems and tax incentives improve the investment climate, and motivate the Turkish and Jordanian private sectors to increase the volume of trade and economic exchange between TFZ and ASEZA. ASEZA’s Chief Commissioner Kamel Mahadin, who signed the MoU with Ugur Oztürk, Director General for Free Zones, Foreign Investments, and Services at the Turkish Ministry of Economy, called on corporations in the real estate , tourism, and hospitality sectors to seize the investment initiative at ASEZA. Mahadin said the visit of the Turkish technical economic delegation had been planned to evaluate investment opportunities and the environment in ASEZA, following the recent visits by His Majesty King Abdullah II and Prime Minister Abdullah Ensour to discuss areas of joint cooperation and investment between the two countries. He pointed out that Aqaba today has become an international and regional logistics gateway for anyone interested in investments, especially in the areas of port operations, logistics, and related services . Mahadin noted that several opportunities for production and investment were still open in ASEZA in the areas of information technology, trade, tourist-boat building and maintenance, and entertainment parks.