AMMAN — The head
of the
Lower House Economy and Investment Committee, Khair Abu Sailik,
announced the government’s intention to establish major projects next year,
including a railway project extending from Aqaba through Amman to the Iraqi
capital,
Baghdad, and a university hospital project on Airport Road in
partnership with the Saudi Investment Fund, at a cost not less than for JD150
million, as well as a plant to generate hydrogen as an alternative energy.
اضافة اعلان
He added, during a
consultative meeting organized by the
Jordan Chamber of Commerce on Tuesday
that 23 draft laws are placed on the committee’s agenda during the coming
period that will help the private sector.
Abu Sailik said that “the
investment environment at the end of next year will be different, as there are
new procedures for control, inspection and approval granted to the
investor," noting that the new investment law will not cancel any gains
that investors have obtained from the law in force.
In turn, President of the
Jordan Chamber of Commerce Nael Kabariti referred to a number of issues and
challenges facing the private sector, including challenges in securing goods at
acceptable costs, the difficulty of logistical procedures in light of supply
and supply chain disruptions, and the scarcity of cash.
Kabariti said that the
lack of liquidity is an important issue that calls for reconsidering bank
interests in terms of lending benefits, not deposit interests, pointing out the
need to consult concerned parties to implement any decision when taken.
He called for a review of
the Jordanian tax brackets, which exceed many other countries, and the
unification of the supervisory and inspection bodies, and the instructions and
regulations emanating from the Investment Promotion Law, in a manner that
clearly shows the investor what he is entitled to, and the benefits he will
receive.
Kabariti indicated that
the private sector employs 1.2 million citizens, 456,000 of whom are in the
commercial and service sector, calling for cooperation and thinking about
opening new markets, transit movement, and the issue of labor replacement.
He pointed out that the
commercial sector contributes to the gross domestic product by 59.5 percent,
while imports constitute about 85 percent of citizens' spending.
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