Investment Minister Highlights Milestones in Economic Modernization Vision

Minister of Investment Kholoud Al-Saqqaf
Investment Minister Highlights Milestones in Economic Modernization Vision
Amman  - Investment Minister Kholoud Saqqaf said Monday that all priorities outlined in the executive program of the economic modernization vision for the investment sector in 2023 have been implemented, with an overall achievement rate of 82 percent.اضافة اعلان

Saqqaf emphasized the government's commitment to implementing economic reforms aligned with global economic growth requirements, which significantly improved the investment climate in the Kingdom. These reforms have played a pivotal role in attracting foreign direct investments, bolstering existing investments, and facilitating their expansion, she added.

Speaking in an interview with Petra, Saqqaf highlighted key reforms, including the enactment of the Investment Environment Law, the formulation of regulations and instructions, approval of the general investment policy, and issuance of the Public-Private Partnership Law.

Moreover, the Ministry has finalized the investment promotion strategy's executive plan and launched the promotional investment platform This platform showcases 36 investment opportunities valued at JD1.4 billion and profiles 17 investment economic sectors. Additionally, all comprehensive electronic investment services have been automated, she pointed out.

Saqqaf outlined the ministry's priorities for 2024, which include enhancing public-private sector partnerships, developing the investment map to foster new investment opportunities, implementing the investment promotion plan to attract more capital, and further automating comprehensive investment services to streamline processes for investors. Moreover, she said, the ministry plans to enhance aftercare services and introduce new initiatives, including the preparation of a national investment roadmap.

She underscored that the economic modernization vision serves as a roadmap for the next decade, aiming to unlock the Jordanian economy's potential, achieve an annual economic growth rate of 5.6 percent, and create one million new job opportunities.

Saqqaf highlighted positive national economic indicators in 2024. Despite regional challenges, Jordan maintained its credit rating, indicating the economy's resilience, she said.

Furthermore, the country's gross domestic product expanded by 2.7 percent in the first three quarters of 2023, while foreign direct investments amounted to JD673 million by September 2023. Additionally, the trade balance deficit decreased by 10 percent, reaching JD9.3 billion in 2023.

She reiterated the ministry's commitment to realizing the economic modernization vision's goals in the coming years. Recent steps taken by the ministry, she said, aimed at deregulation through process re-engineering and service automation, enabling investors to access necessary services electronically, thus saving time and effort, added the minister.

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