Crown Prince urges removing obstacles facing investors, supporting industry in Aqaba

Sep 01,2024 - Last updated at Sep 01,2024

HRH Crown Prince Hussein calls for removing any obstacles that investors may face and supporting industry and investors in Aqaba, during a visit to the Aqaba International Industrial Estate (Photo courtesy of Royal Court)

AMMAN — HRH Crown Prince Hussein on Sunday called for removing any obstacles that may face investors, supporting industry and investors in Aqaba.

During a visit to Aqaba International Industrial Estate, managed by BPI Aqaba in cooperation with the Aqaba Development Corporation (ADC), Crown Prince Hussein was briefed on the services provided by AIIE, as well as its plans to attract more investments, according to a Royal Court statement.

The Crown Prince listened to two briefings by ADC CEO Hussein Safadi, and the AIIE CEO Yi Yan on the estate, which extends over an area of 1.7 million square metres and provides about 6,000 job opportunities, with an investment volume of $1 billion, the statement said.

Since its establishment in 2005, AIIE has signed 168 memoranda of understanding with investors, and current investments there include several sectors, such as metal engineering, building materials, renewable energy, food, packaging and plastics, and logistics services.

Future plans for the AIIE include the new expansion project in Quwayrah, the first phase of which is currently underway, including the construction of infrastructure. The project is expected to attract investments worth $1 billion over 15 years, and provide about 6,500 new job opportunities, according to the statement.

According to the two briefs, the new project in Quwayrah will be built on an area of 1.8 million square metres, in cooperation with the Aqaba Special Economic Zone Authority (ASEZA) and the AEDC, as a public-private partnership project, and will rely on natural gas as a source of energy to reduce operational costs.

BPI Aqaba, a company registered in the United Kingdom, manages and develops AIIE through a concession agreement with the Jordan Industrial Estates Corporation, as a public-private sector partnership, with its main shareholders from China and Norway, the statement said.

Crown Prince Hussein was accompanied by ASEZA Chief Commissioner Nayef Fayez and Director of the Office of the Crown Prince Zaid Baqain.

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