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JIC encourages Ukrainian companies to invest in Jordan

By JT - Nov 19,2020 - Last updated at Nov 19,2020

AMMAN — Chairman of the Jordan Investment Commission (JIC) Khaled Wazani on Thursday called on Ukrainian companies to direct their investments to the Kingdom due to its "promising and feasible" investment environment.

Wazani's remarks came during a virtual meeting that was jointly organised by the JIC and the Ukrainian embassy in Amman with the participation of a group of Ukrainian companies interested in investing in the Kingdom, the Jordan News Agency, Petra, reported.

The JIC chairman said that investors look for "feasible, profitable" investment opportunities, which required the commission to prepare a file detailing the Kingdom's “most promising" investment opportunities, which currently total 75 potential projects with an estimated investment value of $4.5 billion.

The file details initial feasibility studies in industry, services, tourism, agriculture and the health, in addition to energy and mining, he pointed out.

To keep pace with the investor aspirations and to provide an attractive and competitive investment climate, Jordan has implemented many steps to improve the business and investment environment, which was reflected in the progress of Jordan's international ranking in the World Bank and the 2020 Doing Business reports, according to the chairman.

Jordan ranked among the top three countries in the world in terms of improving business resilience, and ranked 10th in implementing reforms, Wazani noted.

Regarding the JIC procedures in dealing with the COVID-19 pandemic, he said that the commission has launched an emergency and sustainability plan to deal with investment project applications that ensure quick procedures to spare investors’ time and effort.

To achieve this goal, the JIC's investment services were primarily offered remotely, which is the largest local project of e-services provided by a single institution, Wazani noted.

A total of 289 investment projects have applied to benefit from the Investment Law during the first three quarters of 2020, with an investment volume of around $683 million, and are expected to generate 10,176 job opportunities to Jordanians, in various industrial sectors, hospitals, specialised medical centres, tourism and agriculture sectors, artistic production and information technology, Wazani noted.

Meanwhile, Ukrainian Ambassador to Jordan Myroslava Shcherbatiuk praised the JIC's efforts to provide the necessary support to all companies interested in investing in the Kingdom.

She added that Ukrainian firms and businesspeople, who are considering the possibility of expanding their activities and investment in the Jordanian economy, will receive necessary information and full support from the government and commission.

Jordan is a country that enjoys political stability and a geographical location that makes it a “gateway” to many regional markets, and provides a “competitive and attractive” investment environment for investors, the ambassador added.

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