AMMAN – On Saturday,
Al-Ghad reported that in a recent assessment, economists have highlighted the
diverse challenges facing Jordan in its quest to attract investments, citing
weak promotional mechanisms and stiff competition from regional counterparts as
significant hurdles. Bureaucracy, lack of transparency, and unclear costs are
persistent obstacles hindering local and foreign investors.
According to reports from
the Jordan News Agency, Petra, investment is a cornerstone of bolstering the
national economy and serves as its primary driver. However, existing
promotional mechanisms lack clarity and transparency, dampening the investment
climate for Arab and foreign investors alike. Experts assert that addressing
these issues necessitates a comprehensive overhaul of policies and procedures
to enhance attractiveness and effectiveness in steering investment direction.
Key measures to
revitalize investment appeal include:
- Updating and simplifying regulations.
- Reducing bureaucratic hurdles.
- Fostering stronger partnerships between the government
and the private sector.
اضافة اعلان
Tangible incentives are
essential to instill confidence and lure capital into the economy.
Prominent figures,
including Chairman of the Jordan Chamber of Commerce (JCC) Khalil Hajj Tawfiq,
underscore the urgency of developing robust investment promotion mechanisms.
Hajj Tawfiq proposes the formation of a comprehensive, multisectoral tripartite
committee comprising representatives from the public and private sectors,
regional development authorities, and legislative bodies. Transparent
dialogues, acknowledging past shortcomings, and leveraging Jordanian embassies
abroad are critical strategies to rebuild trust and attract investment.
The envisioned tripartite
committee aims to embark on promotional tours across major countries such as
Saudi Arabia, the UAE, Turkey, and Egypt to showcase investment opportunities
in Jordan. These efforts will also educate potential investors about new investment
laws, incentives, and economic updates, fostering a conducive environment for
investment.
Transparency remains a
focal point in these initiatives, with emphasis placed on credible information
dissemination and training diplomats to champion investment opportunities
abroad effectively. Private sector involvement is seen as pivotal in bolstering
investor confidence and advancing investment promotion efforts.
In parallel, addressing
bureaucratic complexities and clarifying cost structures associated with
project establishment are identified as imperative steps to attract and retain
investors. A clear roadmap outlining investment opportunities and conducive environments
is deemed essential for effective promotion.
Despite the challenges,
Jordan boasts a robust legislative framework, a globally recognized financial
system, and strategic geographic advantages. The stability of the currency and
a skilled workforce further bolster its investment appeal. Moreover, existing
successful investments in sectors such as banking, telecommunications, and
tourism serve as magnets for foreign capital.
Moving forward, a
concerted effort between the public and private sectors is crucial to position
Jordan as a leading investment destination and drive sustainable economic
development. With strategic reforms and collaborative initiatives, Jordan aims
to overcome existing challenges and capitalize on its untapped potential to
attract investments.
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