Zarqa:New government incentives are invigorating the automotive manufacturing and assembly industry in the Kingdom, enhancing its capacity to attract high-quality investments and expand production and export capabilities, thereby strengthening Jordan's position in the global automotive market.
According to Jordan News Agency, Fares Hammoudeh, President of the Zarqa Chamber of Industry, emphasized that the incentives package approved by the government is crucial for attracting investment in the automotive sector in Zarqa. This initiative is tailored to accommodate the specific nature of the industry and its requirements, presenting Jordan with an opportunity to establish a globally competitive automotive industry.
Hammoudeh highlighted that this investment could absorb large numbers of local workers, especially technicians and engineers, thus enhancing employment opportunities and reducing unemployment. He noted that the automotive industry's technological advancements necessitate skilled human resources capable of working with modern technologies.
The incentives are structured to encourage full-scale manufacturing and assembly rather than limited assembly operations. This approach is expected to increase the industry's added value and positively impact the national economy by supporting economic indicators and promoting export growth.
Hammoudeh pointed out that international automotive manufacturers operating in Jordan can leverage free trade agreements with major countries and economic blocs. This advantage enhances the ability of locally manufactured products to penetrate global markets, thereby expanding Jordan's export base.
The incentives package covers various benefits, including those related to the Zarqa Development Zone, handling services at Aqaba Port, infrastructure, labor costs, and tax exemptions. These measures aim to enhance the attractiveness of Jordan’s investment environment and support the establishment of an integrated automotive ecosystem, maximizing the sector's economic impact.