Investment promotion is key to sustainable growth in Middle East emerging markets

Published April 30th, 2003 - 02:00 GMT

The Middle East is witnessing a surge in investment promotion initiatives, fueled by the growing need to secure long-term foreign investments that can drive economic stability, growth and sustainability in the region. 


According to Aqaba Special Economic Zone Authority (ASEZA) chief commissioner, Akel Biltaji, “Globalization and the move to adopt international free trade provisions has made the development of long-term investment strategies crucial for the Middle East if it is to attract international investor interests, which will ultimately underpin the region's economic future.” 


Biltaji will be sharing Jordan's vision and roadmap for investment growth and development at the first International Investment Summit in Dubai, being held from May 3-5 2003.  


“The Aqaba Special Economic Zone already hosts over 1,050 companies…The Zone has already secured investments across key areas, including over one billion dollars in tourism projects over the next 12 years, and approximately $192.6 million in goods passed through its free zone facility in 2002, an increase of 36 percent over 2001. The Zone has also made tremendous progress in attracting industrial, commercial and warehousing investments,” said Biltaji. 


ASEZA is the statutory institution legally responsible for the organizational, administrative, financial and economic development of the Aqaba Special Economic Zone and is committed to maintaining Aqaba at the competitive forefront as an international investment hub.  


Aqaba offers a set of investment opportunities, being strategically located on the Red Sea and acting as a multi-modal freight/logistics hub for the region, and also offering investment incentives, where goods originating in Jordan are granted preferential entry into the United States market, duty free, and not subject to the quota system as per the Free Trade Agreement and the Qualifying Industrial Zone (QIZ) agreement. — ( 

© 2003 Mena Report (

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