Ministers, private businessmen discuss Jordan’s investment environment

Steps are being taken to remove obstacles for investors

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(File photo: Jordan News)
AMMAN — During the 8th Jordanian Investors and Businessmen Abroad Conference Various ministers and institutions discussed the measures taken to further attract investors to Jordan, and create a more hospitable investment environment for economic growth. These take the form of key reforms in the Ministry of Investment, the addition of new and more convenient platforms in the form of “Invest.Jo”, as well as events and conferences to attract investors and economic growth. اضافة اعلان

Minister of Investment Kholoud Saqqaf said the key reforms were aiming to establish the Ministry of Investment to be the Kingdom's main investment reference and the approval of the Investment Environment Law which aims to create a more fruitful investment ecosystem for international and national investors, Jordan News Agency, Petra reported.

In this regard, the minister also referred to endorsement of Public-Private Partnership Law, aimed at attracting and enabling property investments and their integration into regional and global markets.

Deputy prime minister for economic affairs and minister of state for public sector modernization, Nasser Shraideh also emphasized the importance of the partnership between public and private efforts in strengthening the Jordanian economy and investment environment.

The ministry also approved Investment Promotion Strategy for 2023-2026, activated the comprehensive investment service platform and completed automation of 95 services related to licensing and practicing economic activities, all aiming to remove obstacle for potential investors.

Saqqaf noted that the reforms that took place contributed to increasing the total volume of investments benefiting from the Investment Environment Law by 47.6 percent during the first half of 2023, reaching JD598 million, compared to JD405 million during H1 2022.

The 8th Jordanian Investors and Businessmen Abroad Conference
Deputizing for His Majesty King Abdullah, Sharaideh inaugurated the 8th Jordanian Investors and Businessmen Abroad Conference on Saturday in Amman.

The conference was held under the theme: "reality of the investment environment... opportunities and possibilities". It was organized by the Jordanian Businessmen Association (JBA), in partnership with Ministries of Foreign Affairs and Investment.

Sharaideh said stimulating economic growth, increasing growth rates, achieving more job opportunities for Jordanians, accessing new markets, transferring knowledge to the national economy, and increasing added value, can only be achieved through investment, which is the solution to achieving these drivers.

During the first session, Saqqaf noted Ministry of Investment is "keen" to implement principles of Economic Modernization Vision 2033, to provide an "attractive" investor environment by following up investment projects, identifying investor needs and providing scientific and practical solutions in this regard.

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