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GAM offshoot company casts investment vision

By Maria Weldali - Jan 18,2020 - Last updated at Jan 18,2020

AMMAN — The Amman Vision Investment and Development Company (AVID), owned by the Greater Amman Municipality (GAM), on Saturday introduced its investment vision for the Kingdom. 

The main objective of AVID is to showcase that Jordan has a favourable investment environment and shed light on available opportunities, Amman Mayor Yousef Shawarbeh said during the event. 

Various investors in Jordan and abroad have expressed interest in partnering with GAM, but until now there were “no explicit strategies or plans to motivate investors”, Shawarbeh noted.

AVID was developed to create “real partnerships” between investors and the public and private sectors, he added.

“We recall the prestigious status, respect and credibility that the Kingdom enjoys worldwide and among international institutions, leading to our role today to employ these relations and powerful bridges between Jordan and the world in creating real opportunities for our local economy,” Shawarbeh said.

AVID CEO Hamza Hajj Hassan said during the event that the company aims to generate an investment environment that stimulates national economic returns and create job opportunities.

Through offering booster programmes and facilitating procedures, AVID welcomes local investors in particular and encourages foreign investors by building “outstanding relationships” with them, Shawarbeh said.

The company adopted three major methods in implementing its investment missions and visions, Shawarbeh added.

One of AVID’s techniques focuses on meeting Amman’s specific needs through endeavours such as the company’s Al Madounah Motor City project, as well as Ghamadan’s recreational tourist project, he said.

AVID’s other methods focus on fulfilling Jordan’s market requirements as identified through specialised studies, in addition to enabling investors to realise their investment ideas, the mayor added.

“The strong advantage of working with AVID emerges from its flexibility, facilities and prompt response to investors,” Hajj Hassan noted, highlighting the company’s accommodating approach and expertise regarding the area and the local market.  

During the event, AVID presented its first batch of investment opportunities, which consists of eight projects, including a banking district, automated car parking and an exhibition centre. According to the CEO, AVID will be receiving investment requests through its website.

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