Aqaba Special Economic Zone records 60 percent revenue increase in 1H 2002
Jordan’s Aqaba Special Economic Zone (ASEZ) recorded a 60 percent revenue increase in the first half of 2002, compared to figures from the same period last year. Revenues reached $7.9 million from January to June, compared to $3.5 million during the first half of 2001, reported Al-Sharq Al-Awsat .
The results were inclusive of sales tax, entry fees and storage charges. According to ASEZ’s Customs and Revenues Commisioner, Ahmed Al-Refaai Products shipped to the zone were valued at $98.6 million in the first six months of the year, compared to $45 million from the corresponding period last year.
ASEZ is a private sector-driven development initiative that maximizes private sector participation in a duty free, tax-advantaged and flexible regulatory operations environment. Established in 2000, the zone is located at the Gulf of Aqaba leading to the Red Sea. It covers approximately 375 square kilometers and extends to the land borders of Israel and Saudi Arabia and the territorial waters of Egypt. — (menareport.com)
© 2002 Mena Report (www.menareport.com)