AmCham-Jordan takes part in investment conference

AMMAN — The American Chamber of Commerce in Jordan (AmCham-Jordan) took part in a two-day conference titled “Stimulating Investment During the Bicentennial”, organised by the Jordan Investment Commission, the Jordan News Agency, Petra, reported.

In a statement on Tuesday, AmCham President Mohammad Batayneh stressed the need to enhance economic development through boosting national exports of goods and services, noting that free trade and investment agreements, and the establishment of development and free zones have attracted promising investments to the Kingdom.

Batayneh said that the US is a key trading partner of Jordan, noting that 20 per cent of national exports end up in the US market. 

He discussed the experience of the textile sector, which employs about 75,000 workers, including 20,000 Jordanians, adding that it constitutes 27 per cent of national exports by revenue.

The two free trade agreements with the US and Singapore, he stated, offer trade-related technological services. In this regard, he said that the trade exchange volume in services between Jordan and the US amounted to about $1.4 billion in 2019, of which $654 million came from Jordanian exports.

The conference tackled Jordan’s plans to enter the bicentennial, with multi-level investment strategies that enhance the investment environment in the Kingdom, and overcome the social and economic repercussions of the pandemic. 

It also highlighted investment opportunities in the various economic sectors that are compatible with the Sustainable Development Goals, and stressed the importance of public-private partnerships.