ASEZA

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ASEZA, the statutory institution empowered with regulatory, administrative, fiscal and economic responsibilities within The Aqaba Special Economic Zone ( ASEZ) .

In August 2000, the Aqaba Special Economic Zone Authority Law was passed by the Jordanian Parliament. The law established the Aqaba Special Economic Zone Authority ( ASEZA ) as the statutory institution empowered with regulatory, administrative, fiscal and economic responsibilities within The Aqaba Special Economic Zone ( ASEZ) .

The Aqaba Special Economic Zone (ASEZ) is a private sector-driven development initiative that maximizes private sector participation in a duty free, tax-advantaged and flexible regulatory operations environment providing a model approach to environmentally sustainable development and governance, a unique tourist destination on the Red Sea with a duty free shopping oasis accompanied with a high quality of life.

ASEZA is the financially and administratively autonomous institution responsible for the management, and regulation of the ASEZ. Six ministerial – level commissioners, each responsible for a major area of regulatory or operational activity, govern the ASEZ. ASEZA is a service – oriented organization offering one – stop assistance covering all investment needs.

Vision Statement of the ASEZ “The Aqaba Special Economic Zone is a world class Red Sea business hub and leisure destination enhancing the quality of life and prosperity of the community through sustainable development and a driving force for the economic growth of Jordan”

[edit] Mission

To improve the quality of life for all community members To create, regulate and sustain a globally competitive investor friendly environment To optimize the efficient utilization of entrusted resources in harmony with the Master Plan to internationally recognized practices To effect a transparent and accountable corporate structure, governance and culture that synergizes the activities of the ASEZA team.

Values ASEZA values its staff, citizens, investors and environment.

Policy Statement ASEZA is fully committed to enhancing our international reputation for professionalism, achievement and quality in the performance of our work through the continuous improvement of existing processes and procedures.

It is ASESA’s policy that all services provided by the “Authority”(ASEZA) and it’s subsidiary companies are of the standards and specifications applicable within each jurisdiction where the work is carried out, as well as the laws, rules and regulations, standards and codes that control the “Service Delivery” process.

Our main quality objective is to consistently satisfy the specified needs and expectations of our customers in all our activities.

As an integral part of meeting this commitment, ASEZA has established and implemented a “Quality Management System” to the requirements of ISO 9004-2 : 1991(E), “Quality Management and Quality System Elements”- Part 2 : “Guidelines for Services”.

This “Quality Management System” provides the necessary foundation upon which ASEZA will build and improve all our internal systems and capabilities to ensure that we are able to meet our current and future challenges, realize our opportunities and manage changes in a controlled and systematic manner.

The “Quality Management System”, that is the basis of ASEZA’s current and future development, shall be understood, implemented and maintained at all levels within the “Aqaba Special Economic Zone Authority”(ASEZA)

The ASEZ is strategically located at the crossroads of four countries and three continents. Situated at the Gulf of Aqaba leading to the Red Sea, the ASEZ extends to the land borders of Israel and Saudi Arabia and the territorial waters of Egypt. The ASEZ strategic location, infrastructure, unique natural and human assets, broad market access, and business-friendly environment offers investors a springboard to a variety of regional markets and the global economy.

In its continuous efforts to create the most suitable and attractive environment to businesses wishing to locate in ASEZ, The Aqaba Special Economic Zone Authority (ASEZA) has put forward a competitive set of incentives that include :

A flat 5% income tax on the net profit.
Exemption from social services tax.
Exemption from annual land and building taxes on utilized property.
Exemption from taxes on distributed dividends and profits.
Duty-free import of goods in commercial quantities from the National Customs Territory and overseas.
No foreign equity restrictions on investments.
No foreign currency restrictions.
Full repatriation of profits and capital.
Streamlined labor and immigration procedures through the one-stop-shop.
100% foreign ownership.
Up to 70% foreign labor.
Availability of land for lease or sale.
Full guarantees on rights and ownership.