Saudi, Jordan discuss activating joint investment — Envoy

6. Joint Saudi-Jordanian investments - twitter
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AMMAN — The Jordanian Businessmen Association (JBA) has organized a series of morning business meetings on the development of Jordanian-Saudi relations through which it hosted Saudi Ambassador Nayef bin Bandar Al-Sudairy, Al-Ghad News reported.اضافة اعلان

Sudairy said that the meeting is a prelude to activating joint investments through the NEOM project, in which “we aim to invest in both Jordan and Egypt, and benefit from our geographical proximity, especially with a distinct infrastructure in the Aqaba region”.

JBA’s Chairman Hamdi Tabbaa emphasized that Jordan’s economic relations with Saudi Arabia are based on a strong institutional framework of economic cooperation agreements, the Joint Jordanian-Saudi Commission and the Coordination and Business Councils, all of which are important tools for developing areas and opportunities for cooperation between the two countries on all levels.

As part of the association’s efforts to strengthen Jordanian-Saudi relations, a joint investment conference will be convened in early 2023. It aims to familiarize both countries with the most important investment projects, especially in the Aqaba Special Economic Zone Authority (ASEZA) and the NEOM project, Tabbaa said.

He elaborated on the important role played by the private sectors in the two countries and their persistent efforts in creating commercial and investment partnerships, which positively reflects on the development of the bilateral relations, especially in the past three years.

In the field of investment in the Amman Financial Market, Saudi Arabia is the most invested Arab country with an investment volume of $1.46 billion in 2021.

The establishment of the Saudi-Jordanian Investment Fund in 2017 marked a qualitative shift in the promotion and development of joint investments, especially in sustainable strategic projects, he added.

Sudairy emphasized the importance of the meeting, which is a complement to previous meetings with the Jordanian businessmen’s association, to discuss outstanding bilateral relations, especially in economic aspects. 

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