|
|
Print-friendly version
Jordan
Property for Sale in Jordan
Jordan is located in the heart of the Middle East, Northwest of Saudi Arabia, south of Syria, Southwest of Iraq, and east of Israel . Jordan has access to the Red Sea via the port city of Aqaba, located at the northern end of the Gulf of Aqaba. The Hashemite Kingdom of Jordan is a constitutional monarchy with representative government. The Jordanian political spectrum has embarked on a road to greater democracy.
Jordan is a small country with limited natural resources. For many years it has had to contend with a difficult external economic environment caused by problems in neighbouring countries: its goods have poor access to the West Bank and Israeli markets, while dealings with Iraq, which would normally be its largest export market, have been disrupted first by the effect of sanctions and, since the fall of Saddam, by instability. These problems have handicapped exports and investment.
Faced with high levels of poverty and unemployment, King Abdullah gives high priority to economic reform as an essential condition for sustained economic growth to deliver jobs and better living standards for a rapidly expanding population. The agenda includes wide-ranging public sector reform, privatisation, and trade liberalisation: on the trade front Jordan is party to the Agadir Agreement between four of the more reformist countries in the Middle East/North Africa. It is an enthusiastic participant in regional reform initiatives.
By regional standards Jordan has made good progress with reform. Economic growth has begun to improve, though sustained progress is needed to alleviate social problems. Regional constraints are beginning to ease. Jordan stands to gain from an improving economic situation in Iraq. It has begun to benefit from economic co-operation with Israel: in the first instance in the specially formed Qualifying Industrial Zones which take advantage of US trade concessions, and which have made possible dramatically increased exports to the US. It hopes to benefit from similar co-operation over exports to the EU.
The Aqaba Special Economic Zone (ASEZ) is a tax haven in Jordan offering a duty-free, low tax development zone encompassing the entire Jordanian coastline and sea-port with an international airport which operates an Open Skies policy. The historical city of Aqaba has a population of 86,000 people. With an area of 375 Km2 the region offers global investment opportunities in a world-class business environment ranging from tourism and recreational services to professional services and multi-mode logistics, from value-added industries to light manufacturing.
The Gulf of Aqaba is strategically located at the crossroads of four countries and three continents. Situated on the Red Sea, the economic zone in Jordan extends to the land borders of Israel and Saudi Arabia and the territorial waters of Egypt. The strategic location, infrastructure, unique natural and human assets, broad market access, and business-friendly environment offers investors a springboard to a variety of regional markets and the global economy.
- The Aqaba Special Economic Zone Authority (ASEZA) in Jordan has put forward a competitive set of incentives that include :
- A flat 5% income tax on the net profit.
- Exemption from social services tax.
- Exemption from annual land and building taxes on utilized property.
- Exemption from taxes on distributed dividends and profits.
- Duty-free import of goods in commercial quantities from the National Customs Territory and verseas.
- No foreign equity restrictions on investments.
- No foreign currency restrictions.
- Full repatriation of profits and capital.
- Streamlined labor and immigration procedures through the one-stop-shop.
- 100% foreign ownership.
- Up to 70% foreign labor.
- Availability of land for lease or sale.
- Full guarantees on rights and ownership.
Jordan tourismAqaba is a prime business centre with all that this has to offer. In addition the city is a gateway to one of the most interesting touristic regions of the world and is being developed as a perfect place for holidays by the sea with a good beach and and a world class diving reputation. The Gulf of Aqaba is a nature reserve for one of the most spectacular coral reefs in the world and divers enjoy the sea's unique marine ecosystem. The town provides opportunities for trips to Wadi Rum and the famous hidden city of Petra.
Full Country Name: The Hashemite Kingdom of Jordan
Area: 89,213 sq. km (34,445 sq. miles)
Population: 5.3 million
Capital City: Amman (population: 2,027,000)
People: Arab (98%), Circassian (1%), Armenian (1%). The United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) report that 1,740,170 Palestinian refugees and displaced persons reside in Jordan; of whom 307,785 live in the 10 official UNRWA refugee camps.
Languages: Arabic (official), English
Religions: Sunni Muslim 92%, Christian 6%, Other (2%)
Currency: 1 Jordanian Dinar (JD) = 1,000 fils
Government: Constitutional Monarchy
Head of State: His Majesty King Abdullah II Bin al-Hussein
Prime Minister: Dr Marouf Bakhet (24 November 2005)
Foreign Minister: Abdul Ilah Khatib (28 November 2005)
Membership of international groups/organisations: Jordan belongs to the main international groups and organisations. Click here for list.
GEOGRAPHYLand Use: Permanent Pastures 9%, Arable Land 4%, Permanent Crops 1%, Forests and Woodland 1%, Other 85%
Natural Resources: Phosphates, Potash, Shale Oil
Coastline: 26km
Elevation extremes: lowest point: Dead Sea –408m, highest point: Jabal Ram 1,734m
The greater part of Jordan consists of a plateau some 700-1,000 metres above sea level. There are no natural topographical frontiers between Jordan and its neighbours Syria, Iraq and Saudi Arabia, and the plateau continues unbroken into three countries. The River Jordan rises just inside Syria and flows through Israel and Jordan until entering the Dead Sea 251km from its source. It is a tiny trickle of a river, especially in summer and, though a de facto frontier, is not a great natural obstacle.
Summers are hot, especially on the plateau and in the Jordan valley, where temperatures over 49ºc have been recorded. Winters are fairly cold, and on the plateau frost and some snow are usual. The key element is rainfall. Only about 25% of the total area of Jordan is suitable for cultivation. Jordan is therefore far from self-sufficient in foodstuffs, notably wheat. Some winter crops (grains) are grown in highland areas. High value vegetable and fruit crops are grown under irrigation in the Jordan Valley region, partly for export to neighbouring Arab countries. Jordan's plans for agricultural development entail increased irrigation, which depends on the availability of water, a scarce commodity in the region and therefore a potential bone of contention between Jordan and its neighbours. Various projects to improve the availability of water are being considered.
HISTORYTransjordan was traditionally a sparsely populated, largely Bedouin country. It was ruled from its creation in 1921 by the Amir Abdullah, the second son of Sharif Hussein of Mecca, who started the Arab revolt against the Turks in the First World War (all members of the Hashemite family are entitled to style themselves ‘Sharif' as descendants of Hussein, son of the Fourth Caliph, Ali, and Ali's wife Fatimah, daughter of the Prophet Mohammed). In 1946, the British Mandate over the Amirate of Transjordan ended, Jordan became independent and the Amir became King.
At the end of the British Mandate in Palestine in 1948, the army of Transjordan (the Arab Legion) entered Palestine with other Arab forces. The war ended with the fertile coastal plain in Israeli hands and much of Eastern Palestine (the West Bank) held by the Arabs. The city of Jerusalem was divided; the Old City, containing almost all the holy places, was left in Jordanian hands. Jordan formally claimed the West Bank in 1950. Only Britain and Pakistan supported the claim and formally recognised Jordanian sovereignty over the area. King Abdullah united the West Bank and Transjordan, giving the areas equal representation in the Jordanian Parliament, to create the Hashemite Kingdom of Jordan. Following the assassination of Abdullah, the first King of Jordan, in 1951, his eldest son Talal ruled for less than a year before he was deposed (owing to illness) in favour of his eldest son, King Hussein, who succeeded to the throne in 1952.
During the war of June 1967 Israel occupied the whole West Bank and East Jerusalem. Israeli law was extended to cover East Jerusalem in the same year and the whole city was proclaimed the capital of Israel by a 'Basic Law' in 1980. The West Bank and Gaza were not annexed, but administered by a military government. In 1988 Jordan announced its 'disengagement' from the Occupied Territories, handing over responsibility for the areas, and for speaking on behalf of the Arab inhabitants, to the PLO. But Jordan did not formally renounce sovereignty over the West Bank and East Jerusalem until shortly before King Hussein’s death in 1999. Hussein was succeeded by his eldest son, King Abdullah II.
POLITICSElectionsParliament which was established in 1989, after elections under universal suffrage, amends and approves legislation initiated by the King and his government. It has played an increasingly important role in publicly debating policy. Democratisation has progressed steadily and a law legalising political parties was given royal assent in 1993. 19 political parties registered. Real power, however, still rests with the King.
Parliamentary elections last took place in June 2003 under a one-person-one-vote multi-member constituency system with quotas for women, minority ethnic and religious groups. 110 deputies were elected in the Lower House, including 17 from the Islamic Action Front. The women's quota resulted in six female deputies.
On 24 November 2005, Dr Adnan Badran resigned as Prime Minister. The King appointed Dr Marouf Bakhet, a former Ambassador to Turkey and Israel, as well as appointing him Defence Minister. A new cabinet has been formed by Bakhet.
King Abdullah IISome weeks before his death King Hussein made his eldest son, Abdullah, Crown Prince. He ascended the throne on King Hussein's death on 7 February 1999.
King Abdullah has gone to great lengths to plan long term improvements to the economy of Jordan. He is a one of a new generation of Arab leaders and sees himself leading a movement towards Information Technology, democracy, liberal economic policies and integration with the rest of the world.
ECONOMYSources: IMF, EIU
GNP (2005): US\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\$11.9bn
GNP per head (2005): US\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\$2,190
Annual growth (real GDP, 2006): expected 6.0%
Inflation (consumer price index, 2005): 3.5%
Major Industries: Industry 11.4%, commerce/hotels/restaurants 10.5%, construction 10%, transport and communications 8.7%, agriculture 7.4%, other services 52%
Top Exports (2001): textiles, potash, pharmaceuticals, machinery, phosphates, vegetables, fruit and nuts.
Major trading partners: Exports – Iraq, India, USA, Saudi Arabia, Israel, Japan, Pakistan, Lebanon. Imports – Iraq, Germany, USA, Italy, France, UK, China, Korea.
Aid & development: The UK is a major contributor to assistance from the EU, UNRWA, World Bank and IMF
Exchange rate: 1 JD = £0.75 (Sept 2006)
The JD is pegged to the US \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\$*
*World Bank WDI database
INTERNATIONAL RELATIONSJordan and the Middle East Peace ProcessAlthough there remains considerable disquiet among the Jordanian public, Jordan's leadership continues to adopt a constructive attitude to the Middle East Peace Process, seeking an end to violence and a return to negotiation on the basis of previous agreements. Jordan wishes to see progress in the peace process as this would improve Jordan's relations with neighbouring countries and provide a significant economic boost to the region.
Relations with IsraelOn 26 October 1994, Israel and Jordan signed a peace treaty, including agreement on borders and water. On 26 July 1995, the Jordanian Parliament officially ended Israel's status as an enemy state by voting 51 votes to 19 to repeal laws prohibiting normal economic and cultural relations with Israel. In January 1998, land was returned to Jordan marking a return to the 1922 Mandate border with minor modifications. Diplomatic relations have ebbed and flowed but were most recently restored in February 2005. Negotiations continue on a variety of economic, trade and other agreements.
Relations with the Palestinian AuthorityJordan's historical relations with the Palestinian leadership have at times been difficult. Jordan's relations with the newly elected government are at an early stage. In the past there has been continual co-operation on political, economic, social and cultural issues. Israel has indicated that it would be prepared to see Jordan play a role (together with Egypt, the US and the UK) in reform of the Palestinian security sector post Israeli disengagement in Gaza.
Relations with IraqKing Abdullah supported the coalition invasion of Iraq and the process of restoring stability and security to Iraq. Since the overthrow of Saddam Hussein, relations between Jordan and Iraq have been tense due to the Iraq perception that Jordan profited from Saddam’s rule and is not doing enough to stop insurgents. Jordan is hoping for a free, democratic Iraq to emerge and for trade between the two countries to re-start.
Relations with the international communityEurope is an important force in bringing peace to the Middle East, and is a source of political and economic support to Jordan. Jordan has signed and ratified an EU/Association agreement. But the United States remains the most influential Western power in Jordan and is the most important Western supplier of economic support and military assistance. Jordan is one of only four countries (and the only Arab one) to have a Free Trade Agreement with the United States.
| You are viewing results 1 to 17 of 17 |
| You are viewing results 1 to 17 of 17 |
|
|
