Zarqa Free Zone Witnesses Growth in Vehicle Exports

Amman: The Zarqa Free Zone saw a surge in the number of cleared vehicles by the end of 2023, reaching 74,000 vehicles, marking a 37 percent increase compared to the 54,000 vehicles in 2022. Muhammad Bustanji, President of the Jordan Free Zone Investor Commission, highlighted on Thursday that the clearance of electric cars witnessed an impressive rise of 146 percent in the past year, totaling 38,277 vehicles, compared to 15,576 vehicles at the end of 2022. Furthermore, the clearance rate for hybrid vehicles showed a 17 percent increase, reaching 15,940 vehicles in the last year, as opposed to 13,629 vehicles in 2022. Bustanji noted a decline in the clearance of gasoline-powered vehicles by 28 percent at the close of last year, amounting to 11,263 vehicles, compared to 15,634 vehicles in 2022. Additionally, clearance for diesel-powered vehicles dropped by 14 percent, totaling 8,104 vehicles last year, in contrast to 9,456 vehicles in 2022. Re-export also experienced a growth of 12 percent, reaching 47,087 v ehicles during the past year, compared to 41,756 vehicles in 2022. Bustanji emphasized that these statistics directly reflect the stability of legislation and regulations pertaining to the vehicle sector, pointing out that no new taxes were imposed, and the Investment Environment Regulation Law of 2023 was adopted, providing free zones with exemptions from income tax. Source: Jordan News Agency