King urges prioritising investment opportunities based on Economic Modernisation Vision

AMMAN — His Majesty King Abdullah on Monday reaffirmed the importance of defining investment priorities, in accordance with the Economic Modernisation Vision and administrative modernisation plans, as this year is dedicated to implementation.

During a follow-up meeting on the government’s plans for investment at Al Husseiniya Palace, King Abdullah noted that time is of the essence with regard to implementation, according to a Royal Court statement.

At the meeting, attended by HRH Crown Prince Hussein, His Majesty stressed the importance of moving forward with promoting investment opportunities in target markets, to position Jordan as an attractive investment destination.

The King underscored the need for accelerating public-private sector partnership projects, and finding new investment opportunities whose returns would contribute to economic growth.

Speaking at the meeting, Prime Minister Bisher Khasawneh gave a brief on the Investment Environment Law, which came into force recently, and the government’s efforts to continue introducing relevant legislation and regulations aimed at reducing bureaucracy and streamlining processes for investors.

He added that the investment ministry is undergoing a restructuring under the administrative modernisation plan, with expected new hires that specialise in investment promotion and follow-up, adding that the ministry’s role will be the sole reference point for investors.

Investment Minister Kholoud Saqqaf noted that the government’s investment promotion strategy (2023-2025), which will be launched soon, will include the ICT and related services sectors, as well as tourism and medical tourism, pharmaceuticals and bio-sciences, healthcare, the food industry, clothing and textiles, agriculture, logistics, mining and chemicals.

Saqqaf said the “Invest in Jordan” online platform is slated for launch soon, and will include an interactive investment map, investment opportunities, public-private partnership projects, preliminary feasibility studies for potential investments, incentives granted in accordance with the law, sectoral factsheets, the competitive advantages of all sectors in the Kingdom, and an updated doing of business guide.