Al-Muwaqar Industrial Estate… A unique experience attracted investments of nearly one billion US dollars’ capital

Al-Muwaqar Industrial Estate hosts 100 investment facilities of various nationalities with an investment volume of about one billion US dollars until this June, attracted by investment advantages, prepared by the Industrial Cities Company to complement its sister King Abdullah II Estate in Sahab.

The Estate, which was established in 2011 and employs more than 4,500 employees, is distinguished by its strategic location on the international road linking Jordan with Iraq and the Kingdom of Saudi Arabia, where it is only 24 kilometers from King Abdullah II Industrial Estate in Sahab, 12 kilometers from Al-Muwaqar Estate, and 340 kilometers from Port obstacle.

The data of the Industrial Cities Company says that the Estate was equipped with a modern infrastructure and a set of basic services that meet the needs of industrial companies on a total area of 2500 dunums, in which all infrastructure services from internal road networks, electriEstate and street lighting, modern communications, sanitation and rainwater drainage, in addition to a station Water treatment according to the latest designs.

The Director General of the company, Omar Juwaid, considered that the diversity of nationalities investing in the Estate gave it an attractive advantage in addition to its natural and moral advantages, noting that it includes 67 Jordanian companies, 15 Arab companies, 5 foreign companies, 7 companies registered as joint Jordanian-Arab investments, 4 joint ventures between Jordanian and foreign investors, and 5 companies. Arab foreign, all working within industrial sectors, the most important of which are textile, food, chemical, engineering, metal, paper and cardboard, and other industrial sectors.

Juwaid said that Al-Muwaqar Industrial Estate is one of the most successful experiences of the Jordan Industrial Estates Company due to its availability, of developed and serviced plots, in addition to ready-made modular buildings with sale and rent options, competitive selling prices and rent allowances for lands and prefabricated buildings, and payment facilities. Simplified work procedures through the Office of Investors Services, which is one of the main pillars of the Estate, and a complete and permanent exemption from building and land taxes (ceilings).

He presented the Estate's advantages, including that all industrial projects in it enjoy a set of incentives and tax and customs exemptions, where the income tax is 5 percent, provided that an added value of 30 percent is achieved, and industrial companies also enjoy exemptions from customs duties and sales tax on raw materials, equipment, machinery and interior fixtures. From building, constructing and equipping industrial projects within the development zones.

He added that there are additional factors and advantages that have enhanced the investment environment in Jordan and the investment opportunities in the industrial cities/development areas, for both local and foreign investors alike, as the foreign investor has the right to own the entire project without the presence of a partner within specific economic activities, in addition to the freedom to transfer investment returns and transfer shares. Foreign investment also enjoys all the privileges enjoyed by the local company, in addition to the possibility of industrial companies benefiting from the trade agreements signed by Jordan with many countries, through which the local product can access global markets with a distinct advantage.

In view of the high demand for investment in the Al-Muwaqar Industrial Estate, Juwaid indicated that the company has started to develop the second phase of the Estate, with an area of 305 dunums, to include earthworks and the leveling of plots of land, in addition to the implementation of road works, sidewalks and all infrastructure networks. The project was implemented by one of the specialized local contracting companies. At a cost of 2.5 million, the completion rate is about 89 percent. The development and equipping of this phase comes after the first and third phases of the Estate are fully occupied, and is expected to be completed by the end of this year.

Juwaid said that with the aim of creating a kind of integration within the Estate, the Jordan Industrial Estates Company sought to adopt a sectoral distribution system within the Estate represented by distributing industrial sectors to ensure flexible overlap and interdependence between industrial sectors, in addition, the company seeks to raise the level of services provided in its industrial cities. Where spaces have been allocated within the industrial cities, including Al-Muwaqar Industrial Estate, to establish a system of services such as the logistics zone, fuel station and maintenance, in addition to service buildings to host various commercial services to serve investors and investment in various Jordanian industrial cities.

Juwaid stressed that the business environment in the Jordanian industrial cities contributed to creating an attractive investment climate that was reflected in the growing demand for investment in the industrial development cities, which called the company to establish new industrial cities in (Madaba, Salt, Tafila, Jerash), which was able to attract a number of From investments in several sectors to continue the company's path in supporting the wheel of growth in the national economy and the development of the governorates economically and developmentally

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