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Investment Ministry intensifies efforts to boost entrepreneurship, attract investors

By JT - Jan 17,2024 - Last updated at Jan 17,2024

Minister of Investment Khuloud Saqqaf (Petra photo)

AMMAN — Minister of Investment Khuloud Saqqaf highlighted  on Wednesday Jordan’s efforts to position  itself as one of the most attractive and conducive business and investment environments by enhancing cooperation between the public and private sectors.

Saqqaf underscored Jordan’s commitment to attracting further investment, particularly from Arab countries and providing essential support for their empowerment.  She also highlighted key reforms that have been implemented to improve the investment and business environment, including the approval of the Investment Environment Law, the introduction of the Investment Policy, and the enactment of the Public-Private Partnership Law, Jordan News Agency, Petra  reported.

The Investment Environment Law and related regulations provide attractive benefits to investors both inside and outside the development and free zones. It has led to a 34 per cent increase in investments benefiting from the law during the first nine months of 2023, totalling approximately JD879 million, compared with JD657 million during the same period in 2022, Saqqaf said. 

She also noted that the law allows for the establishment of investment funds, with the first such fund, fully owned by Jordanian banks, registered as the largest Jordanian investment fund in the Kingdom with a capital of JD100 million. 

Saqqaf  also highlighted the “invest.jo” platform, a strategic tool in the 2023-2026 promotion strategy, offering 36 different investment opportunities across various sectors and regions, with a total investment volume of $1.4 billion. 

The included sectors are agriculture and food security, chemicals, creative industries, education, energy, green growth, trade, transportation, logistics services, water, ICT, life sciences, healthcare, tourism, mining, food processing, textiles and clothing, she said.

Saqqaf added that the Ministry of Investment has automated 95 services related to licensing and economic activities, with future phases targeting the automation of services related to other relevant authorities and investment references.

Additionally, the Ministry of Energy and Mineral Resources has launched an e-platform, invest.memr.gov.jo, to showcase investment opportunities in the country’s mineral resources, petroleum and oil shale. This platform facilitates interaction with relevant government agencies and allows investors to submit their investment applications electronically.

The platform also highlights various investment opportunities in mineral resources such as basalt, silica, gypsum, diatomite, kaolin, dolomite and feldspar, as well as petroleum and oil shale, Petra added.

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