Showing posts with label Economics. Show all posts
Showing posts with label Economics. Show all posts

Wednesday, August 29, 2007

Should All of Jordan Become a Duty Free Zone?

Successful initiatives should always be replicated in order to have, you guessed it, more success. we have all noticed the amount of investments the Aqaba Special Economic Zone has been receiving. We have also seen how trade originating and/or passing through Aqaba SEZ have increased to, sometimes, unmanageable levels. But we really should think strategically of the geographic location Jordan has. we have an advantage over Dubai in terms of proximity to Europe and the Americas, Better Weather, more experienced labor pool, and, of course, the amount of rebuilding business Iraq is bound to experience once everything settles down in that war torn country.
I had the pleasure the other day of buying a "Made in Jordan" polo shirt. I didn't need it. but it was the least I could do to support Jordanian made products. since the item was made in Jordan, it enjoys a tax-free entry into the American market. only if the government did a better job marketing Jordan as an industry-friendly, investor welcoming place. in no time, Jordan will start having a trade surplus, which translates into increased hard currency reserves. Consequently, Jordan will have lower loan rates due to the country being backed by its reserves, and also investors will be encouraged to operate in the country without fears of local currency collapsing and inflation rising.
what do you think Jordan should do to increase its economic growth rate?
how should Jordan encourage foreign direct investment?
what should Jordan do to eliminate poverty and unemployment?
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