High costs of doing business hurting investment environment — Muasher

AMMAN — The costs of labour, transportation and energy are harming Jordan’s chances of attracting investors, Deputy Prime Minister and Minister of State Rajai Muasher said on Thursday.

The minister’s comments came during a Senate Financial and Economic Committee meeting, to discuss economic updates and financial reform progress. 

There are a number of elements hindering “financial discipline” and budget forecasts, including cases related to medical treatments, exemptions and evasion of payments to the Treasury, Muasher said.

However, the minister added that tackling the squandering of public funds still topped the government’s list of priorities and challenges, the Jordan News Agency, Petra, reported.

During the meeting, Senator Umayya Toukan also noted that the government’s current exemptions and privileges for investment were not in sync with the concept of a productive state. 

The Kingdom has made strides in creating an attractive investment environment, Toukan said, adding that the competitiveness of the sector requires “bold” decisions to deal with increasing production costs.

The principle of self reliance must be reflected in the government’s decisions, pointing to the importance of a commitment to prevent a budget deficit increase, the senator said.