Jordan: JFDZ announces resolution of 11 stalled dead sea projects, unveils new development strategy
AMMAN — The Jordan Free and Development Zones Group (JFDZ) on Wednesday has successfully resolved a long-standing backlog of "stalled" investments in the Dead Sea Development Zone, signalling a "new" chapter for the region's growth and revitalisation.
JFDZ Chairman Sakher Ajlouni, announced that all 11 "troubled" investment agreements, some of which had been inactive since 2011, have now been legally and amicably settled. The move is part of broader efforts to reset the investment landscape and prepare the area for high-impact development opportunities.
The resolution process involved a case-by-case review of contracts, offering flexibility to some investors while mutually terminating others, all without financial losses to the state.
Ajlouni emphasised that the aim was not just to close a chapter, but to clear the path for future projects aligned with national development goals, the Jordan News Agency, Petra, reported.
As part of this reset, the Group is currently updating the region's "master" development plan, originally drafted in 2011. The new version is being shaped by recent market research, shifting investor priorities and the Kingdom's economic modernisation agenda. The updated blueprint is designed to encourage strategic, sustainable investment while making better use of available land and resources.
Ajlouni stressed that the new plan will provide clear guidance for investors and stakeholders, striking a balance between economic growth and environmental preservation. Final approval is expected in the near future.
Director General of the Development Zones Mohammad Al Wakid, added that the total value of the resolved projects was around JD58 million. These included lease-to-own and development contracts, two of which have now resumed work on-site.
He explained that the delays were primarily due to weak financial planning by investors and mismanagement of contracts issues that persisted despite "generous" government support, including payment flexibility and exemption from penalties.
Five major tourism projects are under construction in the area, with some already open and others nearing completion. These initiatives are part of a broader action plan to reposition the Dead Sea as a "prime" destination for both investment and tourism.
Wakid concluded by noting that although the state lost valuable time due to previous project failures, the region is now poised for a "fresh" wave of development. With past obstacles removed, the "focus" shifts to attracting capable investors and transforming the Dead Sea into a "model" of sustainable growth.
Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Tahawul Tech
26 minutes ago
- Tahawul Tech
Japanese giant FUJIFILM opens new offices at Expo City in bid to expand its regional footprint
FUJIFILM Middle East and Africa has announced the inauguration of its new offices at Expo City Dubai, – an innovation-driven, people-centric community designed as a blueprint for sustainable urban living and the new centre of Dubai's future. The site will also host the FUJIFILM Technology Center (FTC) to support the training of employees, business partners, and end-users in the Middle East, Africa, Europe, and Asia. FUJIFILM brings world-renowned expertise and innovations to some of the region's vital sectors. As a global leader in healthcare, imaging and printing technologies, the firm supplies cutting-edge solutions in the UAE such as innovative diagnostic imaging systems helping raise the standard of care in the country and contributing to its development goals. The company is also preparing to launch AI-driven screening centers (NURA) in the region, reflecting its commitment to early detection and better health outcomes. Over the past five years, FUJIFILM has more than doubled its number of staff across its offices in the UAE, Saudi Arabia, Qatar, Egypt, Morocco, and South Africa. The establishment of its new offices in the UAE is part of the company's future-facing mindset, as well as efforts to increase proximity to end-consumers and key partners. The company also recorded impressive annual performance in 2024 and is looking to repeat the feat this year with an expected double-digit growth. H.E. Ken Okaniwa, Ambassador of Japan to the UAE, said: 'We welcome the inauguration of FUJIFILM's new offices and Technology Center in Expo City Dubai. This new investment by Japan's top company in healthcare, imaging and printing reflects the excellent relations between Japan and the UAE as well as the strategic position of the UAE as a global hub for business. I look forward to FUJIFILM's technologies contributing to better healthcare, promotion of industries and human capacity development.' Manal AlBayat, Chief Engagement Officer, Expo City Dubai, said: 'With its technologies used in vital sectors and its commitment to knowledge-sharing, FUJIFILM's choice of Expo City Dubai for its new offices and Technology Center reinforces the city's position as a hub for global businesses driving innovative solutions in the UAE and beyond. We are proud to welcome FUJIFILM to our innovation- and sustainability-focused community – an ecosystem where like-minded entities collaborate to drive meaningful progress.' The FUJIFILM Technology Center (FTC) is equipped with a comprehensive range of FUJIFILM solutions for live demonstrations, allowing visitors to try and test multiple products and services. Underscoring the global importance of the center for the company, Masataka Akiyama, President and CEO of FUJIFILM Europe, also stated: 'Our investment in the new offices and FUJIFILM Technology Center is a powerful enabler for product showcases, including a full-fledged center with hands-on training and lectures delivered by professionals in the UAE, Egypt, and Morocco. We are now also inviting imaging and printing experts to our new Dubai office space to facilitate the exchange of ideas and support the delivery of unrivaled solutions to our customers. The FUJIFILM Technology Center will be invaluable asset in the efforts to leverage our rich heritage of innovation and continue to serve as a benchmark for progress in the region.' Michio Kondo, Managing Director of FUJIFILM Middle East and Africa, commented: 'With the opening of our new offices at Dubai Expo City, FUJIFILM is starting the next exciting chapter of our success story in the Middle East. As we look to deepen our contribution to the region's prosperity and the wellbeing of its people by providing value through innovation and purpose-driven growth, our new space will be a focal point for co-creation, training, new partnerships, and the development of high-tech solutions to help enhance lives and economies.' At the end of last year, FUJIFILM signed six Memorandums of Understanding (MoUs) with prominent healthcare and medical institutions in Saudi Arabia. These partnerships aim to enhance healthcare solutions by promoting digitalization, improving efficiency, and delivering better patient outcomes, underscoring FUJIFILM's enduring collaboration with regional and Saudi organizations. FUJIFILM Middle East and Africa will also extend its commitment to the development of the region's talent, with plans to introduce new hires to support FTC operations and cement the company's leading role in knowledge sharing.
The National
2 hours ago
- The National
Oil prices jump 4% on rising Middle East tension
Oil prices rose more than 4 per cent on Wednesday as the US was preparing to evacuate non-essential staff from its embassy in Baghdad amid rising regional tension. Brent crude futures rose $1.96, or 3.02 per cent, to $66.82 per barrel. West Texas Intermediate crude gained $2.93, or 4.51 per cent, to $67.90 per barrel at 4pm ET. 'It's so fragile. If you see any aberration like that, it doesn't surprise me at all you see volatility in oil prices,' said Peter Andersen, founder of Andersen Capital Management in Boston. The US State Department said it was preparing to evacuate non-essential staff in its embassy in Iraq, Opec's second-largest producer of crude oil behind Saudi Arabia. Non-essential staff members and family members were also authorised to leave Bahrain and Kuwait, according to reports. Tension in the region flared up on Wednesday as efforts between the US and Iran to reach a nuclear deal appeared to stall. In an interview with the New York Post published on Wednesday, President Donald Trump said he was getting 'less confident' about the prospects of a deal being reached. Mr Trump had previously expressed hope that the two sides could reach a deal, and a sixth round of talks were scheduled to take place in Oman on Thursday. 'Something happened to them, but I am much less confident of a deal being made,' he told the Post. Mr Trump added Tehran will not have a 'new nuclear weapon' regardless if a deal is reached. Matthew Bey, a senior global analyst at the Rane Network in Austin, said Mr Trump's comments are 'only reinforcing fears that nuclear talks may soon fall apart'. 'The likelihood of a US-Iran nuclear deal, even a temporary one, has declined in recent days as the White House has hardened its demand on Iran having to give up the right to enrich uranium and Iran has demonstrated little willingness to do so,' Mr Bey told The National in an email. Iran's Minister of Defence Aziz Nasirzadeh had also said on Wednesday that Tehran will strike US bases in the Middle East if nuclear talks fail and conflict arises. Major indexes on Wall Street wavered aftedr developments in the region, as investors continued to assess the prospects of a US-China trade truce and tame inflation data. The Dow Jones Industrial Average was virtually flat, losing 1.1 points at the closing bell. The S&P 500 and Nasdaq Composite both closed 0.27 and 0.50 per cent lower, respectively. 'Given such uncertainty in the markets right now we tend to defer being negative when we can't understand this stuff. There's a handshake deal, but it's a long way off from an actual deal,' Mr Andersen said.
The National
3 hours ago
- The National
Lebanon looks to visitors from Gulf as it pushes to increase tourism
Lebanon is looking forward to a boost in tourism from Gulf countries as its new leadership works to rebuild ties after years of estrangement. The UAE and Kuwait have lifted bans on their citizens travelling to Lebanon after recent visits by President Joseph Aoun, who has also travelled to Saudi Arabia and Qatar after taking office in January. 'Lebanon is moving in the right direction, getting back to the Arab fold – and that's a Lebanese demand before anything else,' Fouad Dandan, Lebanon's ambassador to the UAE, told The National. Gulf tourists and investors − particularly from Saudi Arabia, Kuwait and the UAE − were significant contributors to the economy for decades before relations soured over the increasing influence of Iran over the country through Hezbollah. However, the Lebanese armed group and political party has been considerably weakened after a year-long war with Israel that led to them signing a peace deal last November. Preparations for an increase in arrivals are already under way, with an additional terminal to be built at Beirut's international airport. Plans for a new airport are also in the works, with Prime Minister Nawaf Salam announcing last month that the master plan would be unveiled shortly and the project thrown open to foreign investors. To be called the Rene Mouawad Airport, the new airport in Qlayaat 'could play a strategic role in facilitating cargo movement and affordable travel', Mr Salam told a conference in Beirut on Tuesday. At the same time, flag carrier Middle East Airlines is looking at setting up a low-cost carrier to serve destinations in the Middle East and Europe. The budget airline would be a wholly owned subsidiary of the wider MEA group but fully independent, Mohamad El Hout, chairman of MEA, told The National. He said MEA had seen 'significant growth in passenger traffic' this month, and was forecasting year-on-year growth of 10 per cent to 15 per cent in the second half of 2025. Given its history of conflict, Lebanon's security forces have also been rallied to encourage more foreign visitors. 'Preparations are under way to welcome tourists, though the state is working with a limited budget. Efforts have been made to improve visitors' experience. The road from the airport to Beirut has been repaired, and political banners and posters were removed months ago,' a senior security official involved in the operations told The National. 'What's new is the increased police presence near airport routes, especially at night. Police staffing has recently expanded to accommodate these new duties, and additional checkpoints are now active, with clear instructions to search suspicious vehicles and fine violators.' In the long run, drawing more visitors to its beaches, mountains and nightlife could play a key role in Lebanon's efforts to rebuild an economy hit by mismanagement, corruption and war, with the tourism sector estimated to account for 20 per cent of GDP. 'Eid Al Adha gives a glimpse of how this summer will look,' Jean Abboud, president of the Association of Travel and Tourist Agents in Lebanon, told The National. 'We're seeing new nationalities this year: Emiratis, Kuwaitis and Qataris. Gulf tourists tend to spend more time and money in the country. 'In May, airport traffic rose 11 per cent compared to the same period last year. The momentum is encouraging.'
