Abu Dhabi: The Ministry of Investment of the United Arab Emirates and the government of Jordan have signed a Memorandum of Understanding (MoU) recently. The MoU aimed at creating a framework for investment cooperation in key areas. These key areas include infrastructure and development projects.

It is worth mentioning that to strengthen the two countries’ enduring strategic partnership UAE Ministry of Investment have identified potential opportunities worth over US $2 billion in Jordan.

It is to be specifically mentioned that the MoU was signed by Mohamed Hassan Alsuwaidi, UAE’s Minister of Investment and Zeina Toukan, Jordan’s Minister of Planning and International Cooperation.

At the occasion, Abu Dhabi-based investment and holding company ADQ also made an announcement that it has entered into a strategic partnership agreement to create a joint investment fund. This fund will mark a milestone in ADQ’s commitment to advancing sustainable development initiatives in Jordan and other areas of the region.

ADQ and Jordan Investment Fund, with their collective expertise, resources, and technical capabilities, aim to enhance infrastructure development, boost export industries and promote innovation that will pave the way to create a sustainable impact on Jordan’s economy.

Mohamed Hassan Alsuwaidi, UAE’s Minister of Investment, specifically said, “We are committed to enhancing collaboration with our partners to make sure collective growth and economic progress. This MoU reflects our desire to promote cooperation and investment in Jordan. Moreover, it demonstrates the depth of the strategic relations between the Government of UAE and Jordan. We are looking forward to working in tandem with Jordan to explore new opportunities and create a brilliant future and growth for both nations.”

On her part, Zeina Toukan, Jordan’s Minister of Planning and International Cooperation, said, “This agreement is an opportunity for both the country to build on the deep, historic relation. It further signifies our mutual commitment to increasing our countries’ economic landscapes. Through mutual cooperation and sharing of expertise, we hope to pave the way for innovation and growth that will benefit the people of both countries.”

The MoU signed between the Ministries will enable UAE and Jordan to explore and utilise opportunities to boost bilateral investments and enhance both nations’ GDP through investment in multidimensional sectors such as renewable energy, industrial projects, manufacturing, transport, pharmaceuticals, and food processing.