JCC urges action to remove obstacles, attract investments

Jordan Chamber of Commerce (JCC) Firas Sultan
(Photo: Petra)
AMMAN  — The private sector, as the main driver of Jordan’s economic growth, believes that the Kingdom is capable of attracting investments, provided that bureaucratic procedures, primarily high taxes levied, are overcome, representative of financial and banking sector at the Jordan Chamber of Commerce (JCC) Firas Sultan said, according to the Jordan News Agency, Petra.اضافة اعلان

In a statement on Saturday, Sultan noted investment opportunities are “rich and available” in Jordan’s various sectors with high added value, especially in information and communications technology (ICT), healthcare, food and pharmaceutical industries, medical tourism, financial and banking sector, infrastructure, water, energy and agriculture.

Sultan stressed the need to revisit the tax basket in its various forms and exert efforts to remove the obstacles facing the business environment to attract more investments to advance the national economy and create more job opportunities for Jordanians.

In addition, he noted Economic Modernization Vision is a roadmap for the next 10 years, and an important turning point, which unleashes potentials of the Jordanian economy to achieve comprehensive and sustainable economic growth, increase the Kingdom’s gross domestic product and hire more than 1 million young people in the Jordanian labor market.

The vision’s economic growth priorities were divided into five main growth drivers consisting of priority main and sub-sectors, including high-value industries, education, entrepreneurship, research and development, logistics, IC, health care, tourism, energy, water, and other priority sectors in Jordan, he pointed out.

Success in achieving the vision’s axes, which was launched under Royal directives, requires providing an “attractive” investment environment, continuing reforms and removing current obstacles, most notably are legislation instability, the region’s unstable situation and bureaucratic procedures, he said.

The government, he noted, exhibited awareness about serious issues facing foreign investment attraction and support to the local investor, which are the cornerstone of business expansion.

The new Investment Environment Law 2022 was endorsed, which sets investor rights and privileges and provides fair, equitable and transparent treatment in accordance with international best practices in this regard, he said.

Jordan’s financial and banking sector is “solid and resilient” and is making progress, thanks to the “prudent” monetary policies launched by Central Bank of Jordan (CBJ), under a “true” partnership and continuous contact, due to the sector’s importance and its role in maintaining Jordanian currency’s stability and increasing the Kingdom’s foreign reserves, he noted.

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