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First EU - Jordan Business Forum kicks off

By Ilham Darwazeh - Jun 12,2024 - Last updated at Jun 12,2024

The forum also addressed investment opportunities for European companies in Jordanian and regional markets (Photo Courtesy of Al Mamlaka)

AMMAN — Deputising for HRH Crown Prince Hussein, Deputy Prime Minister for Economic Affairs and Minister of State for Public Sector Modernisation Nasser Shraideh on Tuesday inaugurated the first European Union-Jordan Business Forum.

The forum, organised by the European Union Delegation to the Kingdom in collaboration with the Ministry of Investment, aims to open and explore investment and trade opportunities as well as economic partnerships and cooperation between the Kingdom and EU.

The one-day forum, under the theme of "Digital and Green Jordan: Pioneering the Future of Business", saw significant participation from Jordanian and European businesspeople and entrepreneurs in the fields of green energy, the digital economy, and industry, was attended by Vice President of the European Investment Bank Gelsomina Vigliotti, and government officials, investors, representatives of public and private banks, and industry experts. 

Participants engaged in bilateral meetings to discuss key issues hindering bilateral trade and investment between the Kingdom and EU countries and explored tangible ways to overcome these challenges.

The forum also addressed investment opportunities for European companies in Jordanian and regional markets, highlighted success stories of European and Jordanian companies operating in the Kingdom, and went over sustainable initiatives and opportunities in green industries, the digital economy, and trade.

Minister of Investment Khuloud Saqqaf emphasised the importance of holding the forum, noting that it is a pivotal event reaffirming Jordan’s commitment to fostering a business-friendly environment and attracting foreign investment.

She added that despite external shocks and challenges faced by the Kingdom, and the geopolitical uncertainty in the region, the Jordanian economy has continued to demonstrate resilience against these challenges, achieving numerous positive economic indicators such as satisfactory economic growth rates and the lowest inflation rates compared to other countries in the region and the world, along with "comfortable" foreign currency reserves.

Saqqaf pointed out that while many countries in the region and the world have faced credit rating downgrades, Moody's Investor Service upgraded Jordan's sovereign credit rating for the first time in 21 years. 

This upgrade reflects the effective and prudent management of the Kingdom’s fiscal and monetary policies, the minister said, adding that the successful completion of the seventh review of the International Monetary Fund’s programme for 2023 reflects the government's commitment to adopting stable and secure economic, fiscal and monetary policies.

She noted that Jordan is heading towards diversifying energy resources through big investments in the renewable energy sector, pointing out that the Kingdom ranks first in the Middle East and North Africa in terms of the contribution of renewable energy to the overall energy supplies.

Ambassadors of the EU to Jordan Pierre-Christophe Chatzisavas said that the forum is a "testimony" of the "solid" relations between Jordan and the EU, which are based on a joint vision for economic prosperity and sustainable development.

Chatzisavas noted that the forum will open opportunities to Jordanian and EU companies to display their products and services, and provide a platform to develop dialogue among commercial facilities. 

On the sideline of the forum, thematic dialogue sessions were held to focus on three crucial sectors with outstanding growth potential which are green growth and renewable energy specifically Hydrogen and clean technologies, as well as digital and technology, as well as Exports and scaling up industrial operations in the fields of textile, pharmaceutical and agro-processing. 

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