Iraqis to invest $400 mil. in Aqaba port projects

The Iraqi Business Council (IBC) ended a three-day meeting at Jordan's Red Sea port of Aqaba with a pledge to invest about 400 million dollars in infrastructure and tourism projects there, participants said.

 Iraqis to invest $400 mil. in Aqaba port projects
The Iraqi Business Council (IBC) on Wednesday ended a three-day meeting at Jordan's Red Sea port of Aqaba with a pledge to invest about 400 million dollars in infrastructure and tourism projects there, participants said.

The meeting, held under the title "Aqaba as the Gate for Iraq," involved 65 leading Iraqi businessmen who appraised the role of the Red Sea facility as a conduit for Iraq's reconstruction and explored available investment opportunities at the port.

One of the projects approved during the conference was a 150-million-dollar holding company for investing in the Jordanian port, concluded between the IBC and the Aqaba Development Corporation (ADC), the corporation's Chief Executive Officer Imad Fakhoury said.

He pointed out that the meeting was a follow-up to discussions at the "Rebuild Iraq Conference" in Amman last month.

Iraqi businessmen had aired the difficulties they were facing in Jordan, including residence procedures and regulations, conference sources said.

Jordanian authorities are applying strict residence rules to Iraqis to avoid any offshoots of the security turmoil in Iraq.

United Nations agencies estimate the number of Iraqis who have taken refuge in Jordan at about 750,000.

The Special Aqaba Economic Zone has attracted about 10 billion dollars of investments since its establishment in 2001. Fakhoury said there was room for another 8 billion dollars worth of economic ventures.
Last Mod: 05 Temmuz 2007, 00:59
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