AMMAN — The
CEO of the
Saudi Jordanian Investment Fund (SJIF), Omar Alwir, said on Sunday
that the fund is committed to invest $3 billion in major projects in Jordan,
Al-Mamlaka TV reported.
اضافة اعلان
Alwir told the news station that “we have many
promising sectors, and in the past few years several investments have been made
in pilot projects” at the individual level and in small and medium-sized
businesses.
The fund’s commitment of $3 billion, “the largest in
the history of the Kingdom”, will be directed towards “major” investments in
infrastructure and other strategic sectors, he said.
The SJIF was established in 2017 and came as part of
the cooperation between the two kingdoms, according to Alwir.
“The establishment of this partnership came under
the
Jordan Investment Fund Law, which allows Arab sovereign funds and other
investment funds from anywhere in the world to be invested in infrastructure
projects and major strategic sectors on a build-operate-transfer basis, where
the ownership of all assets will revert to the Jordanian state after the end of
the investment period,” he added.
“Any project that is invested in must have a reasonable and
feasible economic return, but this is not enough. Any investment must have a
clear long-term development return, not ... (for) the overall economy of
Jordan, but ... (for the) communities in which the investment is made.” Alwir
said.
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