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India-Jordan business seminar hears of bilateral investment opportunities

By Maram Kayed - Feb 17,2020 - Last updated at Feb 17,2020

AMMAN — On Monday, the India embassy organised an India-Jordan business seminar, allowing businesspeople and representatives of private companies and relevant government agencies to discuss bilateral investment opportunities.

“The relationship between Jordan and India is one of growth, friendship and strength,” said Ambassador of India to Jordan Anwar Haleem during the seminar. 

Noting that the two countries have shared understandings on the highest levels and citing several official visits, most recently Indian National Security Advisor Ajit Doval’s visit to the Kingdom, the ambassador highlighted “ample untapped growth” for bilateral cooperation.

The agricultural sector in India, Haleem said, is of particular interest to Jordan, given that a large portion of Jordan’s exports to India go to fertiliser companies.

He also highlighted investment opportunities in several other sectors, such as garment manufacturing and services. 

One Indian investor, Haleem noted, is currently expanding operations in Aqaba and Mafraq, investing $150 million and creating 10,000 job opportunities.

Hamdi Tabbaa, Chairman of the Jordanian Businessmen Association, said that the seminar is “very important for businesspeople of both countries, providing them with a chance to explore potential investment opportunities and various projects of mutual interest”.

He noted that the Kingdom can benefit from India’s expertise in the IT and pharmaceutical sectors, while Jordan can supply India with many of its fertilisation and agricultural needs.

“India is currently one of the top investors in Jordan, with $83 million worth of investments. We would like for that to be increased even more, and for Jordanian businesspeople to seek investments in the Indian market as well,” Tabbaa added.

Bilal Hammouri, director of the promotion department at the Jordanian Investment Commission, said: “Jordan has remained an attractive investment ground, steadily growing its economy despite regional and domestic challenges.”

“Jordan has much to offer in terms of investment opportunities, customs and tax exemptions and expertise. We hope that the private sector can work with their Indian counterparts and exchange knowledge that can be translated into commercial success,” he added.

Director General for Asia and Oceania at the Ministry of Foreign Affairs and Expatriates Malek Twal said that, following His Majesty King Abdullah’s visit to India in 2018 and his meeting with Indian Prime Minister Narendra Modi in Saudi Arabia in 2019, the ministry and its Indian counterpart have been instructed to create a joint commission to handle legislative and economic cooperation between the two countries.

The commission’s activities are expected to commence later this year, noted Twal.

 

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