Experts call for setting up free trade zone in Amman

AMMAN — Participants at the 7th Jordan Afaq Economic Forum, which began on Tuesday, called for setting up a free trade zone in Amman to facilitate legal procedures for investors.

Economy and finance experts as well as representatives of companies stressed the importance of activating the economic sector through training and developing human resources and regulations that match the present circumstances, especially the regional situation.

The forum, discussing Arab economic and investment challenges and risks in light of recent events in the region, aims at contributing towards enhancing economic conditions and offering chances for the public and private sectors to meet with local and foreign investors, as well as sign economic partnerships.

On the sidelines of the forum, a number of local and international economic companies are taking part in the 10th Investment and Finance Expo and Awards.

Chief Market Strategist at ADS Securities, Nour Eldeen Al Hammoury, said boosting local economy and attracting foreign investment requires reconsidering a number of laws that regulate the economic sector, calling for establishing a free trade zone in Amman. 

Moreover, he called on stakeholders to offer simplified procedures that encourage investment in the Kingdom. 

Total Solutions Company General Manager Hani Sharif considered Amman a strategic area as it forms a link between Arab countries. He also said Amman became a global centre to hold international conferences, seminars, and meetings on various fields.

Moreover, Sharif noted that although Jordan achieved a significant progress in the economic field as well as other fields, yet some procedures and laws still form an obstacle for many investors in Jordan, like the taxes and customs.