Jordan approves vehicle insurance and property ownership reforms

(File photo: Jordan News)
AMMAN – On Wednesday, the Cabinet approved the mandating reasons for draft bylaws of Compulsory vehicle Insurance for 2024 and Beneficiaries of Insurance Contracts for 2024. اضافة اعلان

The regulations aim to implement some provisions in Insurance Business Regulatory Law No. (12) of 2021 and address some issues related to vehicle insurance, Jordan News Agency, Petra reported.

The Council of Ministers also decided to green-light the validating reasons for the draft bylaw to regulate leasing and ownership activities by non-Jordanians and legal persons of immovable property outside the boundaries of Petra Archaeological Park (PAP) or other archaeological sites in Petra Development and Tourism Region Authority (PDTRA) for the year 2024.

Under the Cabinet decision, the system is referred to the Bureau of Legislation and Opinion to proceed with the procedures for its approval in accordance with the rules in force.

The system aims to regulate the leasing and ownership process by non-Jordanians and legal persons of immovable property outside PAP boundaries or other archaeological sites in PDTRA under provisions of Petra Tourism Development Region Authority Law No. (15) of 2009.

It also defines procedures and powers for this purpose, encourages investment through governance procedures, and saves investors' time and effort.

On another note, the Council approved the Industrial Policy Document for the years (2024-2028). It formed a national team to follow up on its implementation, which features various ministries and competent authorities.

The decision also entrusted the Ministry of Industry, Trade, and Supply to outline an executive plan to implement this policy within a "clear and specific" time frame and move forward with its implementation procedures in partnership with the relevant authorities.

The Industrial Policy Document 2024 2028 aims to enhance Jordan's industrial development and design and implement interventions that would achieve Jordan's industrial development goals consistent with the Economic Modernization Vision (EMV).

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