50 investors to resume projects at Jordanian-Syrian Free Zone, says official

AMMAN — Around 50 investors are completing logistic preparations for their facilities at the Jordanian-Syrian Free Zone prior to resuming their activities, the zone’s director general, Irfan Khasawneh, said on Wednesday.

During a meeting with a delegation from the Jordan Chamber of Commerce (JCC), headed by Chairman Nael Kabariti, Khasawneh said that the zone is currently considering new applications for investments within the zone, the Jordan News Agency, Petra, reported.

Khasawneh noted that freight movement through the zone commenced last week after it was reopened in November.

He said that the value of commercial activity in the zone in 2014 stood at around $1.5 billion.

Kabariti said that the delegates' visit to the zone aims at checking on its top needs through listening to the demands of investors and obstacles they face before trying to solve them.

He said that the delegates were briefed current investors on top obstacles, such as increasing the rent from $2 per metre (prior to closing the zone in 2015) to $8 now, marking an increase of 200 per cent. Kabariti said that the issue will be discussed with stakeholders.

Kabariti also highlighted the importance of attracting new investments and preserving current ones, in addition to establishing joint ventures between Jordan and Syria in the zone.

He noted that the decision to increase the rent violates investment laws.