AMMAN —
Prime Minister Bisher Al-Khasawneh said that
the draft laws regulating the investment environment, the work of companies, and
competition aim at encouraging and stimulating the investment, business and
competitive environment, and creating job opportunities, Al-Ghad News reported.
اضافة اعلان
During interventions in the House of Representative session
on Monday, the prime minister stressed that the three bills that the government
sought to present in the special session are consistent with the 10-year
Economic Modernizations Vision, and seek to achieve important goals, among
which is to employ one million Jordanians over 10 years and reach an economic
growth rates of about 5 percent over the same period.
He stressed that implementing the economic vision is the
collective responsibility of the government, Parliament, Senate and various
economic sectors.
The prime minister called on the Parliamentary Economy and
Investment Committee to improve the package of projects regulating the business
environment, stressing that the government economic team will engage positively
with any event that achieves its basic objectives.
In this regard, he said, “we are committed to issuing a
single system for draft laws regulating the investment environment, companies,
and competition, and unified instructions issued by the Council of Ministers.”
Khasawneh said that no reference to issues of control and
inspection is to be found in the three bills, adding that there is a law
regulating these issues.
He pointed out that the package of draft laws include tax and customs
exemptions for a period of up to three years for any investment that produces a
certain number of job opportunities, a point that was missing from the 2014
Income Tax Law.
The prime minister said that the companies draft law is
“fully consistent with the objectives of the draft law regulating the
investment environment”, and entails facilitating and simplifying related
procedures and the practice of corporate business in a way that reduces time,
effort, and costs for the shareholders in companies, contributes to strengthening
the business environment in the Kingdom, and stimulates foreign investment.
Khasawneh reviewed a number of amendments to the companies
draft law, such as canceling the capital requirement for limited liability
companies when registering and giving them a period of 60 days after the
registration process, notifying companies by electronic means and replacing
publishing some provisions in daily newspapers with publication on the website
of the Companies Control Department, and distributing profits within three
months, which contributes to enhancing liquidity in the market and stimulating
trading in the Amman Stock Exchange.
He stressed that these amendments aim to simplify and amend
many of the procedures that were an obstacle to partners in companies in cases
such as death, pointing out that these amendments came as a result of dialogues
between the government and various sectors.
With regard to energy and mining, the prime minister said
that the government has reduced the price of electric tariffs on the productive
sectors, “but realistically, we cannot compete with oil and natural
gas-producing countries in terms of energy costs”.
He added: "When we draw comparisons with countries that
are similar in the region economically, we definitely find that we are in a
better position, and have not reached a stage that poses a risk to the
financial and monetary situation, which is very stable, and (for which) we have
historical reserves of foreign currencies."
He also said that “there are some promising indications of
evidence that may lead to the discovery of natural resources and minerals”,
expressing hope that “this will put us on the path to reach situations similar
to those of countries enjoying natural resources, and thus we will not need to
rely on the tax base to achieve a balance between revenues and expenses.”
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