Jordan Investment Commission presses on drive to widen business ties with Saudis

AMMAN –– Jordan Investment Commission (JIC) recently concluded a promotion campaign to Saudi Arabia in a bid to attract more investors from the Gulf kingdom. According to a JIC statement e-mailed to The Jordan Times Sunday,  Industry, Trade and Supply Minister Hatem Halawani headed the official delegation to Riyadh, where a Jordanian-Saudi investment forum took place.  Jordan seeks to attract more Saudi investment, Halawani said in a speech, describing the Gulf state as Jordan’s largest economic partner. The minister noted that the volume of Saudi investments in Jordan is around $10 billion, spread over banking, energy, tourism and industrial sectors, said the statement.  “The investment commission is ready to make all necessary facilities for Saudi investors to carry out their projects in Jordan,” the minister said, citing the renewable energy sector as a lucrative market for investors. Khaled Abu Rabei, the commission’s acting chief, said the forum aimed at introducing available investment opportunities for Saudi businesspeople. Ahmed El Showeir, board member of Riyadh chamber of industry, said there are Jordanian businesspeople who are investing in 850 projects worth $3.6 billion.  The share of Jordnaian investors in these projects is estimated at 54.5 per cent, according to Showeir.