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Aqaba pitches to US investors
Published on : 27/06/2014

Aqaba pitches to US investors

 A delegation from Jordan's Aqaba Special Economic Zone Authority (ASEZA) was in New York to drum up foreign investments in what is the Hashemite kingdom's only coastal city.

Jordan set up the special economic zone in 2001 with a view to making the city of Aqaba, situated at the northeastern tip of the Red Sea, into a a regional hub of trade, tourism, and culture. Leading a delegation of representatives from industry, logistics, infrastructure, tourism and real estate, ASEZA Chief Commissioner Kamel Mahadin made presentations to potential foreign investors in a seminar hosted by the Arab Bankers Association of North America (ABANA).

And while Aqaba has already attracted investments totaling $20 billion, far beyond its initial target of $6 billion by 2020, Mahadin is sure he can bring even more resources back to Jordan.

"Our objective is to continue providing incentives to foreign investors", said Mahadin, who is an architect and the chairman of the Aqaba Development Corporation (ADC), among many other positions.

"We have many investment opportunities for Americans. We are in a strategic position as we border on Israel, Saudi Arabia, Syria, and Iraq, and we have a fantastic climate nine months out of the year. We want Aqaba to become a hub for the Middle East and North Africa", added Mahadin, who was accompanied by ADC Vice President Bashar Abu Rumman, among others.

"After New York, we are heading to Washington, DC, and Baltimore", he said at the ABANA seminar, where speakers included Jordanian Finance Minister Umayya Toukan, the United States ambassador to Jordan, and the Jordanian ambassador to the US.


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