Jordan - National US-Arab Chamber of Commerce

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“This projectrepresents a modelpublic-privatepartnership, andwe are delightedto providesignificant supportfor the creationof this importantnew Americanuniversity.”Imad FakhouryASEZA Deputy ChiefCommissioner and Chairmanof the Board of ADCAmerican University to be Set Up in AqabaBy Dalya DajaniAMMAN — The Kingdom is gearing up for thedevelopment of a new private, non-profit Americanuniversity on Aqaba’s southern shores, with a sistercampus in Amman.The Aqaba Development Corporation (ADC) andthe Aqaba Special Economic Zone (ASEZ) signed anagreement this week for the university’s constructionon 250 dunums of land on the Red Sea coastal shore.The agreement was signed between ASEZA DeputyChief Commissioner and Chairman of the Board ofADC Imad Fakhoury and Safwan Masri, professorand vice dean at Columbia University’s BusinessSchool on behalf of the university’s fund.Modeled on the American system of higher education,the university is expected to attract studentsfrom here and across the region. It is expected to caterto up to 6,000 students over the next 10 to 12 yearswith over 40 majors in schools for liberal arts andsciences, management, engineering, education andlaw. Around 2,500 of the total student capacity areexpected to be studying in Aqaba.Through its consortium of affiliations by academicprograms, the university will also expose students toa rich platform of educational and cultural exchangeswith top tier U.S. colleges.“This project represents a model public-privatepartnership, and we are delighted to provide significantsupport for the creation of this important newAmerican university,” said Fakhoury.According to Fakhoury, the university, which isscheduled for completion in 2009, is also expected toplay a significant role in the development of Aqaba,particularly in meeting ASEZ’s long-term developmentplans.“The establishment of this campus represents akey building-bloc in the ASEZ master plan and astrategic enabler within the comprehensive long-termplan of ASEZA and its development arm, ADC, totransform Aqaba into a leading business and leisuredestination on the Red Sea,” said Fakhoury.“The population of faculty, staff and students willboth contribute to and benefit from the diverse andvital community we plan to foster in the Aqaba SpecialEconomic Zone,” he added.Home to some 60,000 Jordanians, Aqaba, Jordan’ssole port city, was transformed into a special economiczone in 2001. It has since witnessed a rapid increasein infrastructure and commercial development thathas transformed the area into a breeding ground forinvestment.Such investment in the southern region falls inline with the vision of His Majesty King Abdullahfor the creation of a knowledge-based economy forthe future of Jordan and the region.During a visit with the Economic Club of Chicagoand the Chicago Council on Foreign Relations in June,King Abdullah described the university as one thatwould “adopt the standards of world-class scholarship,open inquiry, freedom of thought and expression.”Reprinted with permission fromJordan Times, November 29, 2004ProgressSoft: A Jordanian Success StoryJordan’s heavy emphasis onInformation Technology isgiving rise to a variety of worldclassJordanian IT companies. Onehome-grown success story that isnot new to Jordan is ProgressSoft, established in 1989and Jordan’s first software development company.According to Michael Wakileh, Chief Executive Officerof ProgressSoft, the firm’s solutions are “completely andindependently developed in Jordan by Jordanian softwareengineers and designers. The software meets the latesttechnological advances in software development and isbuilt according to international standards.”The ProgressSoft track record is impressive by anystandard:• ProgressSoft introduced the first signature14 November/ December 2004 • US-Arab Tradelineverification system in the region.• ProgressSoft solutions aredistributed and installed in 19countries worldwide, includingEngland, Germany, Canada,and the United States.• ProgressSoft has become a technology partner toAmerica’s Hewlett Packard, which is nowmarketing ProgressSoft’s electronic check clearingsolution around the globe.• ProgressSoft is the first company worldwide toestablish an Electronic “Image-Based” CheckClearing Solution. The software was first introducedby ProgressSoft in 1996 and will becontinued on next page
continued from previous pageimplemented in the United States in keeping withthe Check21 Act, which became effective onOctober 28, 2004.According to Wakileh, ProgressSoft is currently doinglive presentations of its pioneering product for such U.S.banks as Bank of America, Bank of New York, JP MorganChase, Citibank, The Federal Reserve and the ClearingHouse of New York – CHIPS. In addition, a pilot projectfor the electronic check clearing solution will be implementedby ProgressSoft in SWIFT (New York). The firmwas awarded the Electronic Check Clearing Project bythe Central Bank of Jordan in June 2004.ProgressSoft is a regular visitor to such internationalfairs as Sibos and CeBIT. Sibos 2004, the world’s premierfinancial event, was held in Atlanta, Georgia this year,where ProgressSoft demonstrated its revolutionary electroniccheck clearing solution to U.S. clearing houses, U.S. banks,and banking firms from all around the globe.In Wakileh’s words, “Jordan’s main treasure is thehighly intellectual human resource. With His Majesty’svision to employ this treasure in professional softwaredevelopment and IT services, Jordan is becoming asoftware development hub, hosting outstanding softwaredevelopment companies which offer professional softwaresolutions to countries all around the globe.” ✦ProgressSoftsolutions aredistributedand installedin 19 countriesworldwide,including England,Germany, Canada,and the UnitedStates.JORDAN: Key Business ContactsEmbassy of Jordan, Washington DCEconomic and Commerce Bureau (ECB)Mr. Maher Matalka, Director3504 International Drive, NW, Washington, DC 20008Tel: 202-362-4436Fax: 202-244-0239www.jordanembassyus.orgEmbassy of the United States in AmmanMr. Richard Eason, Economic CounselorP.O. Box 354, Amman-11118, JordanTel: +962-6-592-0101Fax: +962-6-592-7653EasonRM@state.govInformation Technology Association of Jordan (Int@j)Mr. Bilal Abuzeid, Acting CEOP.O. Box 2383, Amman-11953, JordanTel: +962-6-515-2322Fax: +962-6-515-2344www.intaj.netJordan American Business Association (JABA)Ms. Rose Al Issi, CEOP.O. Box 840817, Amman-11184, JordanTel: +962-6-565-1860Fax: +962-6-565-1862www.jaba.org.joJordan Dead Sea Products Manufacturers AssociationMr. Sami Bakir, Executive CoordinatorP.O. Box 9504, Amman-11191, JordanTel: +962-6-533-7748Fax: +962-6-533-7748www.deadseajordan.comJordan Export Development & Commercial CentersCorporation (JEDCO)Mr. Salah Ghunaim, Acting Director GeneralP.O. Box 7704, Amman-11118, JordanTel: +962-6-560-3507Fax: +962-6-568-4568www.jedco.gov.joJordan Foreign Trade Policy DepartmentMs. Maha Ali, DirectorP.O. Box 2019, Amman-11195, JordanTel: +962-6-560-7191Fax: +962-6-560-7640www.jftp.gov.joJordan Investment Board (JIB)Ms. Reem Badran, Director GeneralP.O. Box 893, Amman-11821, JordanTel: +962-6-553-9370Fax: +962-6-560-8416www.jib.com.joJordan Stone & Tile Exporters Association (JOSTONE)Mr. Rasmi Hamzeh, CEOP.O. Box 41865, Amman-11194, JordanTel: +962-6-565-0939Fax: +962-6-568-4266www.jostone.comJordan Telecommunications Regulatory CommissionMs. Muna Nijem, CommissionerP.O. Box 850967, Amman-11185, JordanTel: +962-6-586-2020Fax: +962-6-586-3641www.trc.gov.joJordan-US Business Partnership (JUSBP)Mr. Nayef Stetieh, Vice PresidentP.O. Box 941865, Amman-11194, JordanTel: +962-6-566-9135Fax: +962-6-568-4266www.jusbp.orgJordanian Association of Manufacturers ofPharmaceutical & Medical Supplies (JAPM)Ms. Hanan Sboul, Secretary GeneralP.O. Box 941247, Amman-11194, JordanTel: +962-6-560-5634Fax: +962-6-569-1116www.japm.comThe Executive Privatization CommissionMr. Adel Al-Kodah, ChairmanP.O. Box 941536, Amman-11194, JordanTel: +962-6-567-0556Fax: +962-6-462-6254www.epc.gov.joThe Institute of Management Consultants of Jordan (IMC)Ms. Salwa Bamieh, ChairmanP.O. Box 926550, Amman-11110, JordanTel: +962-6-553-0856Fax: +962-6-553-0858www.imc.com.joUS Jordan Business AllianceMs. Marjorie Adams, President1725 I Street, NW Suite 300, Washington, DC 20006Tel: 202.349.3792Fax: 202.349.3915www.usjba.orgNovember/ December 2004 • US-Arab Tradeline 15
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