Gov't to refer new investment law to Lower House in April

AMMAN — The new investment law will be referred to the Lower House early in April, Minister of Planning and International Cooperation Nasser Shraideh said on Sunday.

During a meeting with the Lower House’s Economy and Investment Committee, Shraideh said that the Investment Ministry is responsible for administrating major government projects with the private sector, Al Mamlakah TV reported.

He added that the new law will try to address existing shortcomings in more than 44 laws and 1,800 bylaws responsible for regulating the investment environment and business doing, in a bid to remove all bureaucratic procedures and save cost, time and effort.

Also speaking during the meeting, Investment Minister Khairi Amr said that the ministry has dispatched action teams to study laws and regulations concerned with the investment environment in competitive countries to benefit from their experiments.