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Al Hassan Industrial Estate is recognized as the platform for the Jordanians companies manufacturing Pesticides and veterinary medicines and agricultural fertilizers, which have made their way to enter the world markets due its quality and conformity to international standards.

The statistics and figures of the Jordanian Industrial Estates Company, reveals more than ten industrial companies working in the estate in the field of pesticide, veterinary and agricultural fertilizers. The volume of investments amounted to approximately JD 36 million, offering about 400 jobs In various professions and functions, which export their products to various international markets.

Eng. Mohammed Owais is an investor in this field and his company ‘Mopidco’ is one of the largest companies working in this field in the industrial estate with a capital of about 20 million Jordanian dinars and includes half of the workforce working in this field that the veterinary industry is comparable to the human medicine industry which they reach almost 1000 workers.

Owais said that the success achieved by MEPEDCO was reflected in the new job opportunities in this field, which were found by qualified Jordanian youth in various medical and agricultural specialties, as well as training and qualification opportunities in the company’s laboratories, which are the latest in this field. MEPEDCO today is a Jordanian success story that has reached 40 countries around the world and is able to keep abreast of developments in the agrochemical industry and public health pesticides, adding that his company owns two external factories in KSA and Syria.

Like other industrialists, Oweis calls for more support to industrialists to maintain the existing industries in general and the industry of veterinary medicines and fertilizers in general, pointing out that the increase in production costs affected the competition in addition to reviewing the international conventions that the private sector did not achieve any benefit In addition to protecting the Jordanian product and intensifying control efforts.

Moreover, Oweis also calls for helping industrial companies to achieve integration among industrial companies by exchanging raw materials in addition to increasing the period granted in annual licenses and contact the official authorities of these procedures such as Customs Department, Ministry of Agriculture and others, since the delay in issuance of approvals sets an additional cost on industrial companies.

Source:https://www.jiec.com/en/news/70/

Following a Cabinet decision to lower prices and rent in Tafileh, Madaba and Salt industrial estates under certain conditions, the Jordan Industrial Estates Company (JIEC) was able to attract six industrial investments in Salt and Madaba within less than a month of implementing the decision.

JIEC signed six investment agreements with two Jordanian investors, one Iraqi-Jordanian joint investor, a Yemeni, and a Syrian investor at the Ministry of Industry, Trade and Supply.

During the signing ceremony, Minister of Industry, Trade and Supply Tareq Hammouri said that the investment volume for all six investments stands at JD7 million, and are expected to provide over 160 job opportunities in their first phases.

JIEC CEO Omar Jwaid said the investments are the first in the new industrial estates and are a result of JIEC’s efforts after the implementation of the Cabinet decision to lower rent and sale prices in those estates.

It was revealed earlier that under the decision, for the first 15 industrial company investments in each estate, prices will be lowered between 30 to 80 per cent for the first five dunums, while rent will be lowered by 40 to 70 per cent for the first three years of the contract.

The decision also stipulated that the industrial company must have at least 10 Jordanian employees, registered with the Social Security Corporation from the start of the investment.

Two of the Jordanian companies in Madaba will specialise in foodstuffs as well as aluminium stands and lighting units that work on solar power.

The third Jordanian investment in Salt will focus on manufacturing educational tools, while the Iraqi-Jordanian joint investment in Salt will also focus on plastic industries.

The Yemeni investor voiced his interest in the pharmaceutical industry while the Syrian company will focus on construction.

Jwaid said the companies have achieved the different conditions and investment approvals to benefit from the exemptions and advantages.

For his part, JIEC Chairman Loay Munir Sehwail commended the government’s decision that allowed the JIEC to announce the investment incentives in the new industrial estates.

For their part, the investors voiced their appreciation for the incentives and voiced several concerns, which the minister and JIEC management promised to look into.

 Source:https://www.jiec.com/en/news/76/

Jordan Industrial Estates Corporation (JIEC) and the Arab Businessmen Forum in China on Tuesday signed a Memorandum of Understanding (MoU) to enhance cooperation between the two countries and promote Jordan’s investment environment.

The MoU, signed by JIEC CEO Omar Jwaid and the forum’s head Arafat Harahsheh, seeks to underpin the promotional efforts of Jordanian industrial zones, according to a JIEC statement.

The signing ceremony was held on the sidelines of the Jordanian participation in the third China-Arab States Expo and fourth China-Arab States Business Summit, which aimed at intensifying the Kingdom’s promotional efforts with a focus on the Chinese market, along with exploring potential investment opportunities, mainly in industrial zones.

The Arab Businessmen Forum in China, with its widespread relations, serves as an umbrella for Arab and Jordanian investors in China, Jwaid said, pointing out that the agreement would promote the Kingdom’s investment climate through expertise exchange and holding a variety of promotional activities.

Harahsheh said that the MoU emphasised active public-private sector partnership intended to serve the Kingdom’s investment environment, affirming that the forum will make every effort to support JIEC’s promotional efforts in the Chinese market.

The memorandum stipulates cooperation in promoting the Kingdom’s investment environment and opportunities, as well as conducting training courses for JIEC’s employees by linking them with the related bodies in China, through the Arab Businessmen Forum in China.

Under the agreement, the two sides will hold a variety of forums and workshops on promoting investment opportunities available in Jordan’s industrial zones affiliated with JIEC, according to the statement

Source:https://www.jiec.com/en/news/77/

(JIC) Jordan Investment Commission announced its plan to issue electric cards for the investors so as to facilitate the procedures for them, regarding the importance of industrial investment in Jordan, regarding Dr. Khalid Alwazany Chairman of the Commission

Dr. Alwazany said during a meeting with Al-Hassan Industrial Estate investors that (JIC) will launch in cooperation with Ministry of Planning and International Bank (104) electronic services with a new system for investors complains, adding that (JIC) will coordinate with government sides to solve all obstacles faces investors and create attrcactive investment atmosphere in Jordan.

From his side, The General Manager of Jordan Industrial Estates Company Omar Jwaid cleared that the number of industrial investments at Al-Hassan Industrial Estate reached until the mid of 2019 (143) companies, specialized in different sectors, with investment volume of (276) Million JD, offered about (29) job opportunity, aiming that the industrial estate in the biggest incubator In the northern region of Jordan and its exports reached (90%) from total Irbid Exports.

Mr. Hani Abo-Hassan confirmed on the importance of the industrial sector as its big turn in supporting the bases of socio-economy fields regarding the facilities offered to this sector which contributes directly 25% of the Gross domestic product..

Mr. Emad Al-Naddaf head of Al-Hassan investors Association called to activate the turn of Industrial Estate to support investors, pointing that the procedures done by investors hinders the investment development and captures attracting foreign investors.

Source:https://www.jiec.com/en/news/78/

The UAE legislators have initiated the fundamental step for implementing UAE Federal Law Number 19 of 2018 on Foreign Direct Investment (FDI Law). The FDI Law introduces a framework for the UAE Cabinet to permit foreign shareholders to own up to 100 percent of onshore UAE companies in certain designated sectors. On July 2, 2019, the UAE Cabinet met and subsequently approved the sectors and economic activities eligible for up to 100 percent foreign ownership.

This represents a significant milestone in the UAE’s efforts to attract and retain more foreign direct investment (FDI) and diversify its economy by permitting foreign investors to incorporate and hold more than 49 percent of the shares in the capital of companies operating in certain sectors of the economy, without needing to partner with a UAE national.

A timely but measured response to demand
The World Investment Report 2018 issued by the United Nations Conference on Trade and Development (UNCTAD) highlighted the UAE’s competitive advantage as an attractive hub for investors from across the globe. This report showcased the UAE’s leading ability to attract FDI. FDI in the UAE reached a total of $10.4bn in 2018, in part due to rising cross-border M&A, ranking the UAE first amongst Arab countries and 27th globally (up from 30th in 2017). Also, the UAE’s share of FDI in 2018 accounted for 36 percent of the total FDIs flowing to the group of Arab countries as a bloc.

The UAE’s Foreign Direct Investment Committee (FDIC) is the sole governmental body which can legally propose to the UAE Cabinet the list of eligible commercial activities and the economic sectors in which greater levels (i.e. over 49 percent) of FDI will be permitted (Positive List).

Following the FDIC’s second meeting after the implementation of the FDI Law which took effect on September 24, 2018, the UAE Cabinet has now subsequently issued the hugely anticipated Positive List.

The Positive List
The Positive List covers a total of 122 economic activity groups, encompassing over 900 activities across 13 sectors, including, but not limited to, the agricultural, manufacturing, renewable energy and space sectors, which would be eligible for up to 100 percent foreign ownership. Further, the FDI Law provides the FDIC with powers to regularly update the Positive List and so the Positive List may be amended to encompass additional activities in due course.

An in-depth examination of the initial declared sectors and activities reflects the UAE’s focus on attracting investments in specific areas that are considered key to the realisation of its vision and strategic plans, in light of the ongoing governmental efforts to position the UAE as the regional hub in such sectors.

By excluding, at least to date, sectors that might be considered as saturated such as real estate and retail, the UAE Cabinet’s choice of sectors appears to be driven by industries that can support the UAE’s plans to promote innovation and knowledge transfer, attract international expertise, create new job opportunities and training for national cadres and strengthen and sustain the economy in accordance with international best practices.

Minimum capital requirements
The Positive List specifies certain requirements for entities which are the subject of an application for an increased level of foreign ownership, including minimum capital requirements ranging from AED7.5m ($2.04m) to AED10m ($2.72m) for the majority of the agriculture-related activities and between AED2m ($544,000) to AED100m ($27.22m) for manufacturing related activities included in the Positive List.

The UAE Cabinet’s resolution provides each emirate with the authority to determine the cap on an increase in the ownership percentage of foreign investors above 49 percent for activities included in the Positive List. This flexibility provides each emirate with a degree of discretion in deciding the appropriate level of foreign ownership in accordance with its respective needs and local economic interests.

What does this mean for FDI in the UAE going forward?
This may theoretically result in varying foreign ownership thresholds for the same sectors across different emirates in the absence of a uniform requirement to harmonise foreign ownership levels across the UAE.

Could this have an impact on the flow of FDI across the UAE and potentially result in the various emirates competing in order to attract investments, reflecting the needs and economic interests of each of the seven emirates? Also, how will this impact the existing free zones currently operating in the UAE as foreign investors become drawn into the appeal of establishing a majority or wholly owned onshore entity, notwithstanding the other benefits of operating in a free zone (i.e. duty free imports).

Whilst the answer to these questions will unfold over the coming months, it is widely acknowledged that the relaxation of the UAE’s foreign ownership restrictions is likely to incentivise foreign businesses through (i) establishing a presence onshore and, in turn, attracting new players into the mainland market or (ii) restructuring their existing shareholding arrangements to own a controlling majority, or even the entire issued share capital, in an onshore entity.

At Dentons, some of our clients are already exploring the implications of these developments which marks a significant milestone towards the UAE achieving its economic vision.

Source:https://www.arabianbusiness.com/comment/428504-from-legislation-to-implementation

Dubai will host a number of fireworks events and concerts for Saudi Arabia’s 89th National Day, officials have announced.

At the Point on the Palm Jumeirah, a three-minute fireworks show will begin at 8:30 PM on September 23, with dining deals and children’s activities available until the end of the day.

Other fireworks events will take place at 8:30 PM at Bluewaters Island and at 9 PM at The Beach, JBR.

Additionally, Dubai Mall will host two concerts showcasing emerging talent the kingdom. The first concert, featuring artists Ismail Mubarak and Ramy Abdallah, will take place on Sunday (September 22) between 7 Pm and 10 PM.

The second concert, featuring Fouad Abdelwahad, will take place on Monday (September 23) between 7 PM and 10 PM.

Saudi visitors at Dubai International Airport will also be met with decorations, messages and Saudi national songs upon their arrival, as well as Arabic coffee, chocolates, scarves and children’s badges.

Source:https://www.arabianbusiness.com/travel-hospitality/428506-dubai-plans-fireworks-concerts-for-saudi-national-day

Visitors to the UAE will now have the option of choosing to carry out dynamic currency conversion of their cash withdrawals when using their Visa card at any Emirates NBD ATM across the country.

The initiative follows a successful pilot by Emirates NBD in partnership with Network International, Visa and technology provider Planet.

Non-UAE Visa cardholders will now be able to view the exact conversion amount and fees in their home currency before making a cash withdrawal.

The service will be rolled out to over 1,000 ATMs, a statement said.

This will be powered by Planet’s currency conversion solution, covering over 130 foreign currencies and integrated by Network International across Emirates NBD’s ATM network country-wide.

Suvo Sarkar, group head – Retail Banking & Wealth Management at Emirates NBD, said: “Emirates NBD is committed to making banking easy, accessible and more convenient for UAE residents and visitors alike. We are pleased to launch this service in partnership with Network International, Visa and Planet with the aim to better facilitate cash withdrawals for visitors to the UAE through our extensive ATM network.”

Samer Soliman, managing director – Middle East, Network International, added: “We are pleased to offer seamless and transparent currency conversion to our clients with coverage of over 130 currencies. This initiative will add value to our clients and we look forward to future collaborations that support our commitment to enhance the UAE’s banking and payment ecosystems.”

Source:https://www.arabianbusiness.com/banking-finance/428236-currency-conversion-now-available-at-emirates-nbd-atms

Sidi Kerir Petrochemicals Co. (SIDPEC) has chosen Honeywell UOP’s C3 Oleflex technology to produce 500,000 metric tons per year of on-purpose propylene at SIDPEC’s refinery in Amerya, near Alexandria, Egypt. With this, Honeywell UOP’s Oleflex technology has been selected for 52 out of 64 propane and isobutane dehydrogenation projects globally since 2011.
Honeywell will also provide the process design package, proprietary and non-proprietary equipment, on-site operator training, technical services for startup and continuing operation, and catalysts and adsorbents for the project.

When completed, the SIDPEC unit will be the first Oleflex unit operating in Egypt.

“This plant will allow SIDPEC to expand its portfolio and take advantage of domestically produced propane to make products such as polypropylene,” said John Gugel, president of Honeywell UOP. “The Oleflex technology converts propane into high-quality propylene, which is rising in demand, particularly in growing economies.”

According to IHS Markit, annual demand for polypropylene in Africa was 1.9 million metric tons in 2016. But due to rapid population growth and urbanisation, this demand is expected to rise by an additional 1 million metric tons in the next decade. Egypt is the top consumer of polypropylene in Africa, consuming about 4.4 kg per capita, and demand there is projected to grow by more than 5 per cent annually through 2022.

Honeywell UOP’s C3 Oleflex technology uses catalytic dehydrogenation to convert propane to propylene and is designed to have a lower cash cost of production and higher return on investment among competing technologies. Its low energy consumption, low emissions and fully recyclable, platinum-alumina-based catalyst system minimises its impact on the environment. The independent reaction and regeneration sections enable steady-state operations, improved operating flexibility, and a high on-stream factor and reliability.

SIDPEC is a joint stock company established in 1997 and represents Egypt’s initial development of a domestic petrochemicals industry. The company’s production assets are based on the latest available technologies and designs to ensure competitiveness and compliance with Egyptian environmental regulations.

Source:https://www.fibre2fashion.com/news/textile-news/sidpec-chooses-honeywell-technology-for-egyptian-plant-243130-newsdetails.htm

The International Cotton Advisory Committee (ICAC) has announced that the World Cotton Research Conference (WCRC) will be held from October 3-7, 2020 in Sharm-el-Sheikh, Egypt. The WCRC is organised by the ICAC under the auspices of the International Cotton Researchers Association (ICRA). It brings together the top researchers and cotton specialists from across the globe.
The seventh event held since 1994, the WCRC will serve as a global platform for scientists and experts to share the latest updates in cotton research and development. Internationally recognised experts will be invited to deliver plenary and keynote presentations.

“Given the many challenges that cotton is facing around the world — including soil degradation, inefficient knowledge transfer and lack of access to modern technologies — it is the perfect time to convene many of the world’s top cotton scientists to find the path forward,” said ICAC head of technical information, Dr Keshav Kranthi. “The ability to meet face-to-face with colleagues from all over the world and learn from each other is an opportunity not to be missed.”

The WCRC is held once every four years in different cotton-growing countries. Previous conferences were held in Australia (1994), Greece (1998), South Africa (2003), USA (2007), India (2011) and Brazil (2016).

Formed in 1939, the ICAC is an association of cotton producing, consuming and trading countries. It acts as a catalyst for change by helping member countries maintain a healthy world cotton economy; provides transparency to the world cotton market by serving as a clearing house for technical information on cotton production; and serves as a forum for discussing cotton issues of international significance. (PC)

Source:https://www.fibre2fashion.com/news/textile-news/icac-to-host-cotton-research-conference-in-october-251812-newsdetails.htm