AMMAN — Jordan
designed investment attraction strategies with a variety of legislative and
administrative tools to create a modern and advanced business environment
capable of regional competition and luring and stimulating investments, the
Jordan News Agency, Petra reported.
اضافة اعلان
The strategies
aim to surge the national economy with high-quality domestic and foreign
investments to help the Kingdom tackle unemployment and poverty head-on through
public-private partnerships.
The IT and
telecom industries, logistics services, tourism, manufacturing, agriculture,
healthcare, and public-private partnerships sectors offer various investment
opportunities with high potential returns.
Realizing the
EMVFor the
Economic Modernization Committee to succeed, a total of JD 41 billion in
investments and funding must be attracted. This is especially essential so 1
million job opportunities for Jordanians are developed over the next 10 years.
The private
sector, foreign direct investments, or public-private partnerships are
anticipated to produce the majority of these jobs.
Breaking down
the Investment Environment LawThe Investment
Environment Law, which provides investors with incentives and exemptions
subject to certain conditions, is the country's crowning achievement in
bolstering the comprehensive reform process.
The law
mandates the use of technology to streamline administrative and procedural
hurdles, boost funding for new businesses, and level the playing field for
SMEs.
This week saw
the rollout of the first set of electronic investment services from the
Ministry of Investment, all of which are tied to the licensing of economic
activities and are required by the Investment Environment Law for 2022.
The new
e-services include applications for registration, licensing, incentives, and
exemptions as well as the issuance of investor cards, visas, and citizenship
certificates.
To realize the
vision's 10-year plan, the government will launch major projects with a
combined budget of JD10.470 billion and initiatives aimed at boosting the
investment sector, as outlined in the EMV's executive program.
‘Desire to
increase investment’Khair Abu
Sa'ilek, the chairman of the Jordan Economic Forum, believes that the
investment ministry's restructuring was driven by a desire to increase
investments in the Kingdom as a result of the extensive legal authority it had
attained as an independent ministerial entity prior to becoming a government
body.
He explained
that Article (7) of the Investment Environment Law mandates the Investment
Ministry to create a map outlining opportunities in various sectors and
governorates in order to stimulate investment.
All authorities
need to commit to working closely with the ministry, and the ministry needs to
hire qualified staff, he said.
Iyad Abu
Haltam, the president of the East Amman Industrial Investors Association,
stated that in order to attract new investments to the Kingdom both domestic
and foreign computerized systems and a digital transformation are necessary.
These
advancements will enable licenses to be granted quickly and wisely, as well as
quickly for plans, budgets, and approvals, he said.
He emphasized
the importance of using economic diplomacy, the internet, and constant
communication with business owners and investors from outside the Kingdom
through exhibitions, diplomatic missions, international economic forums, and
conferences in order to promote investment opportunities available in the
Kingdom.
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