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Investments needed to help economy

Aug 20,2015 - Last updated at Aug 20,2015

His Majesty King Abdullah met Wednesday with members of the government’s economic team and other concerned officials to impress, once again, the sense of urgency that he attaches to the continuing efforts to improve the investment climate in the country for both nationals and foreigners.

The meeting discussed procedures the government is implementing to stimulate the business sector, as well as its endeavours to remove obstacles facing the investment environment, particularly in regard to taxes and attracting businesses to benefit the economy.

The King’s meeting on the subject is not the first.

There is clearly need for an investment-friendly environment in the country, and for laws that both simplify procedures for setting up a business, and make it attractive to invest in Jordan and stay.

Once the economy picks up, the twin evils of poverty and unemployment are addressed, as they should be, for they, among other ills, are the main reason for the rise of radicalism and extremism that have wreaked havoc on many parts of the region.

There are, to be sure, lingering obstacles impeding investors, including red tape, a punitive taxation policy and a cumbersome bureaucracy that often discourages potential investors.

The fact that the Monarch found it necessary to hold a meeting on the investment climate in the country once again suggests that he is not totally satisfied with the measures already adopted by the various ministries on investment-related issues.

 

Some steps have been undertaken to remove obstacles facing investors, but more needs to be done, and at a faster pace.

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