Jordan halves registration, economic activity fees in Aqaba

AMMAN The Cabinet on Monday approved a decision by the Aqaba Special Economic Zone Authority (ASEZA) council to reduce registration and economic activity fees for businesses by 50 per cent for the first time.

As such, the fees have been slashed from JD1,000 to JD500 for registration and a sum of JD250 instead of JD500 to be paid for every economic activity undertaken by a registered institution for the period of a year, according to the Jordan News Agency, Petra.

The decision seeks to promote investment at the Aqaba Special Economic Zone and registration at the authority to allow investors to benefit from the exemptions and advantages offered, Petra reported.

The new measure is a significant step in rejuvenating the economy, bolstering the stability of these companies, attracting investment and alleviating burdens on investors, which in turn will benefit small- and medium-sized enterprises, Petra said.

Meanwhile, the Cabinet also tasked the finance minister with gathering the allocations needed to disburse financial dues for the tender to secure and maintain the concrete bridges on the Dead Sea road, among others, until the end of this year, at a value of JD3.868785 million.

The project aims to guarantee road safety on these vital roads, according to Petra.