The MEDPorts Association announced on Tuesday, January 14, 2025, the approval of two new members into its network, further solidifying its mission to represent the voice of the Mediterranean. The addition of Aqaba Development Corporation (ADC) from Jordan, and Misurata Free Zone (MFZ) from Libya, increases the association's membership to 31 ports, reflecting the growing importance of collaboration within the Mediterranean region.
Aqaba Development Corporation (ADC)
Launched in 2004, Aqaba Development Corporation is the central development arm of the Aqaba Special Economic Zone Authority (ASEZA). Jointly owned by the Government of Jordan and ASEZA, ADC oversees the development and operation of critical infrastructure, including ports, airports, and strategic land assets, in addition to creating business enablers and expanding utilities within the region.
With a vision to optimize private sector participation, ADC has driven significant investments and growth in the Aqaba Special Economic Zone (ASEZ). Since ASEZ's inception in 2001, Aqaba has experienced substantial development, attracting investments exceeding USD 20 billion across sectors such as transport, logistics, education, and tourism, such as developments in Marsa Zayed, Ayla Oasis, Saraya Aqaba, and Tala Bay.
Misurata Free Zone (MFZ)
As Libya’s first free-trade economic zone, established under Law No. 9/2000, the Misurata Free Zone has emerged as a vital hub for trade diversification, economic performance enhancement, and investment promotion. MFZ leverages its strategic geographical location and its seaport to create an environment conducive to transit trade, industrial, and service activities.
The MFZ plays a pivotal role in attracting international investors by offering tax exemptions and streamlined regulatory frameworks. Its mission is to stimulate economic growth by fostering trade exchanges and supporting industrial and commercial operations in a globally competitive free-zone ecosystem.
Both new members represent significant contributions to the MEDPorts Association’s mission of fostering cooperation and advancing the Mediterranean's role as a global trade leader. The addition of ADC and MFZ strengthens the association’s commitment to enhancing connectivity, collaboration, and economic prosperity across the region.
