The Establishment of the Free Zones In Jordan
The philosophy of the free zone is that it is considered as one of the governmentís tools in development, through the allocation of specific geographical sites or areas, where special laws and regulations are applied different from those applied in the remaining parts of the State, and characterized by exemptions and facilities to qualify it to be investment attraction area, to develop the export industries and international trade exchange and transit trade.
In view of this philosophy, the experience of the free zones in Jordan started in 1973, where a small free zone was established in Aqaba Port to develop the international commercial exchange and serve the transit trade. When this experience proved its usefulness, the government of Jordan established the Free Zones Corporation (as per a temporary law No. (39), (1976) as a governmental Corporation with financial and administrative independence, managed by a Board of Directors which is chaired by the Minister of Finance. The Board sets up the general policies and prepares the plans and programs to establish and develop the free zones and places them for the service of the national economy so that they can realize their objectives and goals.
The Objectives Of The Free Zones Corporation
1- Attracting local and foreign capitals in the form of investments in the different economic activities.
2- Providing work opportunities for Jordanians and enhancing their technical skills and experiences.
3- Introducing advanced technology and technical skills into the kingdom.
4- Enhancing the leading role of the private sector in setting up private and joint free zones which use local raw materials in production inputs.
5- Developing new areas in the Kingdom throughout setting up investment enterprises therein.