The Prime Minister of Jordan, Dr Bisher Al-Khasawneh, has recently chaired the session of the Investment Council. He adopted the Kingdom’s general investment policy and the investment promotion strategy for the years 2023-2026 AD.
During the session, the Prime Minister affirmed the need for investment policy and investment promotion strategy to be in line with the targets of the vision of economic renewal, solidify general trends to unify investment references and provide legislative stability and prepare a stimulating environment to bring in and empower investors.
He also emphasized the need to network with the private sector as a key partner and contribute to promoting investment and identifying priority sectors and areas to focus attention on them.
Prime Minister further outlined that the philosophy of forming the Investment Board in its current assembly is to represent all industrial, tourism, trade, agriculture, services, etc. sectors.
It was also stated that Prime Minister Al-Khasawneh emphasized the importance of continuous communication with these sectors in order to determine priorities and prepare opportunities for developing the investment environment.
In this regard, he pointed out the need for the Investment Board to hold intensive periodic meetings to research the opportunities available for investment in various sectors and to study the ideas put forward in order to develop the investment environment.
“The fortification also stressed the need to raise the institutional capacities of the Ministry of Investment personnel, ministries and other relevant institutions in the investment sector, to serve and facilitate investors, and prepare investment opportunities,” said the reports.
During the session, the Prime Minister informed about the latest updates on the electronic platform (invest. jo) is planned to be launched to serve as a portal to connect with investors, facilitate them and provide all information pertaining to the investment environment in the Kingdom.
The security pointed out the need to ensure the platform includes as much content and information as possible for investors and stakeholders before its launch, including legislation, laws, data and statistics, while presenting free trade agreements signed with many countries, such as the United States, EU and many other countries, and the benefits provided by these agreements, like simplified rules of origin and etc.
During the session, the Investment Minister Immortal Ceqaf briefed on the general investment policy in the Kingdom, assuring that it aims at building a long-term relationship with local and foreign investors, reaping benefits to the economy by maintaining and developing investment and building strong ties and linkages with local economic activities.
Ceqaf pointed out that the policy comes hand in hand with the vision of economic renewal, government programs and executive plans aimed at increasing the quality and size of investments and creating an attractive and conducive investment environment for investments in various economic sectors.
The Minister of Investment also presented the highlights of the Investment Promotion Strategy for the years (2023-2026 AD), assuring that its output is in line with the output of the economic renewal vision, especially in relation to the targeted sectors.
The sources pointed out that a number of consultative and periodic meetings were held with stakeholders and the public and private sector partners, taking notes of all stakeholders before commencing the strategy.
The Council was informed by the Minister of Investment that shows the size of the total investments benefited from the Investment Environment Law in Jordan during the first quarter of the current year 2023 AD, which increased by (49.1%) to reach (288.5) million dinars compared to (193.5) million dinars in the first quarter of the last year 2022 AD.
It was noteworthy that the number of projects benefiting from the Investment Environment Act was (91) investment projects, the size of labour expected – according to investor studies – will reach (3,200) job opportunities, and the industry sector took the largest share, with about (57%) of the total college investments.
Which an investment size (of 165.6) million dinars, followed by the service sector with (a 35%) investment size of (100%) million dinars, then the tourism sector (6%) with an investment size of (17.5) million dinars, and the rest of the sectors and economic activities (such as hospitals, medical centres, IT, R&D) formed a proportion (2%) of the total amount of investments during this period.
