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Jordan Embassy – Canberra 2014 Have you considered the advantages of investing in JORDAN? Jordan Embassy – Canberra 2014 Security and Stability in JORDAN Jordan Embassy – Canberra 2014 Jordan is a fourth generation monarchy with a democratically elected Parliament, with consistent and continuous foreign and internal policies. Decades of political stability and security rank Jordan as one of the top countries in security worldwide. Jordan has good relations with all its neighbors and has maintained continuous stability and moderation. A visionary leadership dedicated to progressive reforms of political, economic, fiscal, legal and social significance. Jordan Embassy – Canberra 2014 Since the beginning of the 21st century, Jordan’s economy has been flourishing and moving into a productive, innovative and a knowledge based economy. Investor confidence in our economy, political stability, good international relations, and cost-competitiveness have produced a groundswell of investment from around the world. All efforts contribute to a momentum of growth and development. We will continue our prudent monetary policies; and the introduction of further economic, financial and legal reforms; liberalize our economy; and streamline business practices across every sector to attract innovation and capital. Over 10,000 new businesses have started in the past two years and more than 50 major multinational companies have established business operations in Jordan attesting to the increased investor confidence in Jordan. Jordan Embassy – Canberra 2014 The Kingdom consistently ranks among the safest and corruption-free locations for business in the world, and the Middle East in particular. Jordan ratified the United Nations Convention against Corruption (UNCAC) where it emerged as a regional leader in spearheading efforts to promote the UNCAC and implementation. Jordan Embassy – Canberra 2014 Jordan is among the region’s highest spenders on education, investing more than 20.4% of our GDP to create a labor force tailored to meet the demands of the modern market. Jordan’s literacy rate of 91% is the highest in the Middle East. From executives to skilled laborers, we educate for the 21st century. Whether you are looking to outsource or locate labor in-country, Jordan’s human capital will help your money go along way . Our training investments in the high-tech, manufacturing and service sectors add value to the economy, while labor costs remain the most competitive in the Middle East. Jordan Embassy – Canberra 2014 Over 200,000 students attend our 31 universities and another 20,000 Jordanians are earning degrees abroad. We have 60 community colleges and 35 vocational centers graduating over 10,000 skilled technicians annually. 70% of the population age demographic is under the age of 30, denoting a youthfully exuberant population. Jordan has long enjoyed a skilled labor pool for services and industry. The average wages in these sectors are on par with those of China and India. Jordan produces over 6,000 IT graduates every year. Life expectancy and public health levels in Jordan are comparable to the Western countries, with 70% of the population on medical insurance. Jordan Embassy – Canberra 2014 Jordan is a country with trade agreements giving access to over 1 Billion consumers. It is well situated as a regional entry point, being well connected to neighboring countries and global markets through modern transportation and communication networks. Jordan Embassy – Canberra 2014 The Kingdom shares land borders with Syria, Palestinian territories, Israel, Saudi Arabia, Iraq, and Egypt which is only a ferry ride away. Jordan serves as a focal point for trade and investment within the Middle East and North Africa region (MENA), particularly for the Iraqi and Gulf markets. Our location allows for diversification and expansion into increasingly affluent markets. Jordan signed Free Trade Agreements with the Arab countries, US, EU, and Singapore. Additionally, being a member of the WTO, Jordanian products benefit from lower trade barriers, including tariffs, import quotas and excessive regulations. Jordan Embassy – Canberra 2014 The Greater Arab Free Trade Agreement (GAFTA) was signed in1998. It was Declared within the Social and Economic Council of the Arab League as an executive program to activate the Trade Facilitation and Development Agreement in its membership of 17 Arab Countries. Country members include: Jordan; UAE; Bahrain, Saudi Arabia, Oman, Qatar, Morocco, Syria, Iraq, Palestine, Kuwait, Tunis, Libya, Sudan, Yemen, Lebanon and Egypt. The Arab Euro-Mediterranean Countries Trade Agreement (Agadir Agreement) was signed in 2004. Jordan Embassy – Canberra 2014 The MENA region has an area of 13.6 million square kilometres, which is almost equal to the EU and 1.5 times larger than the U.S. or China. MENA accounted for 80% of Jordan's exports. MENA is comprised of 334.5 million consumers, 6% of the world population. Jordan Embassy – Canberra 2014 Modern infrastructure and a globally connected country - Our infrastructure is set up for people, goods and ideas. Jordan’s modern infrastructure helps businesses navigate the world more quickly and comfortably, and move their products and services into markets with ease. Transportation: Railway 620 km Highway 80,000 km2 Seaway Capacity 21 million tons Total Airports(8) Civil Airports include: Queen Alia International Airport, Makra Airport, Aqaba King Hussein International Airport. Runway Length(s) majority of them having runways longer than 2400 meters Airline Passenger traffic approx. 4.1 m. Jordan Embassy – Canberra 2014 Queen Alia Airport has recently been expanded to serve 9 million passengers. There are 55 directly served destinations and 700 served by alliance airlines. Multi-million dollar investment has been considered toward upgrading the cargo terminal at Queen Alia Airport Deep-water harbor of Aqaba port offers facilities for general cargo, containerized cargo and specialized cargo. International standards Aqaba Container terminal managed by APM terminals. Railway master plan to develop an extensive rail network. Jordan Embassy – Canberra 2014 Jordan has one of the most open telecommunications markets in the Middle East and an independent regulator. Tech-savvy population96% of households have at least one main line telephone. 103% of the population has a cell phone. 15% have more than one. Massive growth of broadband and wireless networks. (i.e. Telecom networks are being developed into 4G services.) The Jordanian Government is providing every university student with a laptop in partnership with the private sector. All schools in Jordan are connected with internet service and the Jordanian Government is investing in computers and smart technology to be equipped in Jordan's classrooms. Efforts are being exerted to make Jordan the high-tech capital of the Middle East, and to create a Silicon Valley-like venture in Jordan. Jordan Embassy – Canberra 2014 Jordan is a free market oriented economy, with outward-oriented economic policies and a private sector led approach. It experienced an ongoing privatization of major state-owned enterprises and implemented significant advances in structural and legal reform. It does an exemplary job at moving goods quickly across borders. It is committed to the protection of investors’ rights irrespective of national origin. It has one of the most impartial and efficient legal systems in the region, comparable to international standards. Jordan Embassy – Canberra 2014 Jordan enjoys a very well developed banking sector by regional standards with a wide array of business, investment, and retail services. Both local and international banks are operational and growing in Jordan. 26 banks in Jordan: 15 Jordanian banks out of which 3 are Islamic Bank and 8 non-Jordanian Banks and 4 Investment Banks. The Amman Stock Exchange is modern and enjoys: - no taxes on capital gains, - no taxes on cash dividends, - free repatriation of investment and income, -no ceiling on foreign equity ownership and privatization. With a comprehensive legal Infrastructure, internationally compliant financial environment, and a modern and well established stock market your investments are bankable and your profits will grow. Jordan Embassy – Canberra 2014 Jordan’s first investment law was enacted in 1995, and helped raise $2.3 billion USD of foreign direct investment in 2011. This flexible law allows for a wide range of incentives and support for investors. Total customs duties and sales tax exemptions on imported fixed assets. Ease of licensing and registration procedures. Revenues on exports of goods and services are exempted from income taxes. Export industries are not subject to customs duties on imported raw material. Free repatriation of capital, profits and salaries. Jordan Embassy – Canberra 2014 Jordan Investment Board’s (JIB) is your one-stop-shop (OSS) for setting up your business in Jordan. Representatives from 9 ministries are there to register and license new projects. Through this service window an investor can register and license his/her project in Jordan at one place within 14 working days. At the OSS you can register, license your new projects, and acquire both investor residency and facilitation of work permits for required labour. Also, Investor Facilitation service grants Investment Promotion Law (16/1995,68/2003) tax and custom duty incentives in 30 days. Jordan Embassy – Canberra 2014 Equal treatment to both Jordanian and non-Jordanian investors. Non-Jordanian investors have the right to own any project in full or part, and engage in any economic activity in the Kingdom, with the exception of some trade and contracting services which require a Jordanian partner. Right to manage the project in the manner he/she deems appropriate, and through the person(s) chosen by the investor for this purpose. Non-Jordanians may transfer their salaries and remuneration abroad without incurring any Jordanian tax-liability. Jordan Embassy – Canberra 2014 Investing and doing business in Jordan is simple and straightforward. But we know that life is more than simply work. Jordan offers a diverse, tolerant, and family friendly environment with all the conveniences of the 21st century. Enjoy a climate and protected environment. Blessed with a temperate climate, Jordan is made for comfort. Those who love the great outdoors will enjoy our clear skies and low humidity. We are also working to protect sea, land and air environments to retain our country’s beauty. Jordan is party to more then ten international agreements on the environment. Jordan Embassy – Canberra 2014