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Introduction
Cost Saving & Advantages
Requirements
Achievementsa. The concept of QIZ: Is a tool to promote peace and stimulate the Jordanian economy.
b. Definition of QIZ: Qualified Industrial Zone (QIZ) is an area that has been specified as such by the US Government, and designated by local authorities as an enclave where merchandise may enter the US Market without payment of duty or excise taxes, and without the requirement of any reciprocal benefit.
c. The QIZ represents an unprecedented opportunity to gain duty-free and quota free access to the US Market, the world’s largest and most affluent consumer market..Cost Savings& Advantages Of QIZ
a. QIZ offers the following advantages that lead to low production costs, competitive prices and excellent opportunities for profit:
- Duty free access to the US Market
- No Quotas on production
- Total Income and Social Services Tax exemption
- Duty free entry of fixed assets and spare parts
- Skilled labor force at very competitive wages.
- Full repatriation of capital, profits (free transfer of convertible currency)
- Stable political environment
- Market oriented economy
- World-class buildings, infrastructure and communication.b. The investor will be saving the following:
a. Savings of 20% - 33.6% on woven fabrics, textiles, garments, swimwear, body suits, shirts, trousers, suits, jackets, raincoats, underwear, blouses, skirts, blazers, ski suits, anoraks, for both women and men.
b. Savings of 25% - 48% on footwear: waterproof, with metal toe-cap, covering the knee, covering the ankle, sports footwear, designed for use without closure, work foot wear, footwear with open toes or open heels, footwear of the slip-on type, and parts of footwear.
c. Savings of 18% - 34.2 % on tableware, kitchenware, other household and toilet articles of porcelain or china, hotel or restaurant ware, glass ware, ceramic tableware, glass ceramics, drinking glasses, other glassware of lead crystal.
d. Savings of 75% on perfumes and toilet waters containing or not containing alcohol.
e. Savings of 49% on medication containing penicillin or derivatives thereof.
f. Savings of 45% on medication for veterinary use.These tariff savings are in addition to savings in labor costs and income tax and many other costs.
