The Government of Jordan (GOJ) is moving ahead with merging the Jordan Industrial Estates
Corporation (JIEC) and the Free Zones Corporation (FZC). The merger program was
suspended in recent months pending the completion of an asset valuation exercise which has
now been finalized, and the passage of a proposed income tax code intended to replace all
investment incentives with a simplified income tax regime, which has not been passed by
Parliament. However, in the interim, Parliament enacted new legislation extending the Aqaba
Special Economic Zone (ASEZ) regime to development areas to be established throughout
Jordan under the direction of the Development Zones Commission (DZC). The Development
Areas Law significantly changes the regulatory and policy environment for Industrial Estates (IE)
and Free Zones (FZ) in Jordan.