Investment expert advocates long-term approach to build your portfolio
business8 hours ago
What kind of clients do you host?
We have over 80 signed contracts, with up to 60 in operation. The largest industry here is metals engineering, followed by food production and plastics fabrication. We also have a large logistics center with warehouses and supporting commercial services, such as fueling stations and a bank. PBI Aqaba accommodates a full range of businesses, from a 20-meter office to companies with 50,000-square-meter factories.
What economic impact has PBI Aqaba facilitated?
Job creation per dollar through PBI Aqaba is truly high. This year, we'll pass $400 million in total investment, creating almost 2,500 jobs. To get 2,500 people working, others projects in Aqaba have spent up to five times as much money. I believe that with our new sites we can employ 5,000 people.
Where do you plan to expand?
We are looking at two additional sites, together measuring about 200 hectares. One is close to the port, and the other is in Qweirah, about 30 kilometers north of PBI Aqaba. The advantage in Qweirah is that the land is cheaper and the revised EU source of origin rule for Jordan-made products applies to Qweirah, but not to Aqaba. We may go with one or both of these sites and will make a decision by September.
What industries do you see in Aqaba's future?
Our park has facilitated the introduction of new technology to Jordan. For instance, a Chinese company that manufactures LED lighting has chosen PBI Aqaba to produce a patented technology that will mark a big step forward in the LED industry by increasing energy savings from 50 percent to 70 percent. Their presence will give confidence to other consumer electronics manufactures looking at Jordan. It's a really big move and we expect that high-tech industries will become a growth area for the nation.
justin@the-businessreport.com
Investment expert advocates long-term approach to build your portfolio
business8 hours ago
Needing a win at Anfield to close the gap on fourth-placed Villa, Tottenham slumped to a fourth successive loss
football8 hours ago
Israeli strike on Lebanon's Mais Al Jabal kills four people from a single family
mena9 hours ago
Shortly after the attack, an Israeli airstrike hit a house in Rafah killing three people and wounding several
world10 hours ago
In a private address, the Republican presidential candidate attacks prosecutors involved in his criminal indictments
americas10 hours ago
Stronger-than-expected earnings in coming weeks could help allay investor concerns
markets10 hours ago
Fed decision brings bulls back to the market
markets10 hours ago
The Dubai South region is still untouched and offers attractive investment opportunities
business10 hours ago