Jordan’s rank expected to rise in Doing Business 2018 report

AMMAN — Jordan’s ranking in the Doing Business 2018 report, to be published on Tuesday, is expected to improve due to the government’s efforts to boost the rating, according to Minister of Planning and International Cooperation Imad Fakhoury.

In a statement issued on Monday, Fakhoury said that the Kingdom’s ranking will positively change after efforts made in the past two years. Jordan is ranked 118 out of 189 countries in 2017 compared to 119 last year.

He added that the decline of a country like Jordan is “unacceptable”, noting that the ministry developed a detailed operational plan which includes indicators that enhanced the results in the year 2015-2016. 

The minister explained that these indicators are related to starting businesses, paying taxes, obtaining building permits, registering property, taking out loans, protecting minority investors, enforcing contracts and securing an electricity connection, which reflects on saving time and money, and initiates gradual improvement.

In this regard, he said that a number of specialised workshops were held for each sub-index of the Doing Business Report separately in cooperation with the World Bank/International Financial Group (IFC), where the mechanisms presented in the plan were reviewed and the procedures developed to benefit from the successful global expertise.

Fakhoury added that the Cabinet approved the necessary reforms and is currently following up on the decisions with the relevant authorities to provide the World Bank Group with the measures taken periodically.

The planning minister stressed that the ministry is following up on the procedures with various concerned bodies and providing the prime ministry with periodic reports on the progress of business in reforming the system in improving the index of doing business.

He added that coordination is under way with the World Bank to provide technical assistance to the relevant parties to complete the required reforms.

Fakhoury said that a key part of the implementation of these measures in the next phase will focus on the approval of the draft law on bankruptcy, and the draft law on the transfer of debt, in addition to the real estate law project, all transferred from the government to Parliament after the endorsement of the law of unification of national inspection in the session of the year 2017.

On the other hand, as part of the ongoing efforts to develop the business and investment environment, the Dovel partnership has been approved for funding the Jordanian Economic Legislation Review project, which is being implemented in cooperation with the International Finance Corporation for a period of three years.