Minister unveils new plans to stimulate foreign investment

Ministry of Investment
(Photo: Jordan News)
AMMAN — Minister of Investment Khairy Amr said that the government is working according to a “well-studied plan” to reduce costs, facilitate procedures for investors, and promote opportunities available in the Kingdom, according to Al-Ghad News.اضافة اعلان

The minister said there will be many investor incentives, including in areas related to material support, property, work visas, energy, and transportation costs.

The current Investment Law grants tax and customs exemptions to investors across many sectors, the most important of which are: the agriculture sector, call centers, conference and exhibition centers, the air and maritime transport sector, the railways and transportation sector, hospitals and comprehensive medical centers, hotels and tourist facilities, amusement parks, and media production.

He said that the ministry is fully aware of what is required to stimulate and improve the business environment in the Kingdom and achieve a competitive economy, indicating that investment is one of the most important tools to move the economy forward, increase productivity, and provide more job opportunities.

According to the Official Gazette, the organizational structure of the new ministry consists of the minister, a secretary-general, and 13 directorates that include: Investment promotion, exports and exhibitions, studies and policies, investment window, investor services, facilities and incentives, public-private partnership, urban planning for development and free zones, licenses and control, financial affairs, administrative affairs, human resources, and legal affairs.

The net foreign direct investment in the first half of 2021 decreased by 55 percent to JD135 million, according to data from the Central Bank of Jordan.

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