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Ammon News - The Lower House Economy and Investment Committee on Wednesday approved amendments to Aqaba Special Economic Zone Authority (ASEZA) Law for 2022.

During its meeting, the committee's chairman, MP Omar Naber, presented the bill's mandating reasons aimed to oblige foreign companies to register at ASEZA, revoke reference to social services tax in line with abolition of its law, and align the authority's tax system with international tax standards and rules.

Following consultations with stakeholders, Naber said the committee approved the bill's articles after making the necessary amendments.

For their part, the committee's members said amendments seek to encourage investment in Aqaba, making it an "attractive" area for foreign companies.

Meanwhile, Income and Sales Tax Department (ISTD) Director General, Husam Abu Ali, said gov't's main goal focuses on stimulating Aqaba's economic activity, adding that incentives and privileges are given to investors wishing to launch their projects in the port city and employ Jordanians.

The bill's mandating reasons seek to stimulate investment in the real estate and housing sector and increase the related trading volume by lowering fees collected in relation to property value for sale and donation contracts.