House committee discusses investment draft law

Panel to recommend creation of industrial estate in Zarqa

228 - House committee recommends launching industrial estate in Zarqa
(Photo: Petra)
AMMAN — The Lower House Economy and Investment Committee launched a series of national dialogues on the draft law regulating the investment environment for 2022, its head, MP Khair Abu Sa’ilik was quoted by the Jordan News Agency, Petra, as saying.اضافة اعلان

Chairing a committee meeting on Sunday to discuss the draft law, attended by Minister of Investment Khairy Amro, Abu Sa’ilik said the committee will discuss the bill in a way that serves public interest, adding that the draft law will take into consideration the need to provide job opportunities and stimulate investment in the Kingdom, with a view to providing job opportunities and lowering unemployment.

The deputies said that the existence of many laws and regulations discourages investment, and stressed the need to have a stable legislative environment in the country.

Amro said the draft law, which will help boost the competitiveness of various sectors, is a “starting point” for improving the Kingdom’s investment environment. Jordan’s investment roadmap will be ready in September, he added.

Abu Sa’ilik also said that the panel will submit a recommendation to the Cabinet to establish an industrial estate in central Zarqa Governorate.

In September last year, a senior official said that the government was finalizing plans to establish an industrial estate in Zarqa Governorate at a cost of JD25 million.

Director-General of the Jordan Industrial Estates Company Omar Juweied had told Jordan News that a tender was to be floated at the end of October to execute the construction work on a 1,000-dunum area, a project listed in the government’s economic program for the period 2021–2023, and scheduled to be completed in two years.

The estate was to offer the necessary infrastructure to attract local and foreign investment, create jobs for Jordanians, contribute to GDP, and support Jordan’s exports.

The Zarqa Industrial Estate would join 10 similar zones existing across the Kingdom. 

According to President of the Zarqa Chamber of Industry Fares Hammoudeh, Zarqa is home to 50 percent of the country’s industrial projects.

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