JIC to spearhead Jordanian expat investment activity in Kingdom

AMMAN — The Kingdom provides promising and profitable investment opportunities for businesspeople, Jordan Investment Commission (JIC) Chairman Khaled Wazani said on Thursday. 

During the inauguration of the first expatriate Jordanian businesspeople forum in Saudi Arabia, organised by the Saudi Arabian General Investment Authority (GIA), Wazani said that Prime Minister Omar Razzaz, under Royal directives, tasked the JIC with leading a team to examine establishing a national investment fund with the participation of all Jordanians. 

The chairman said that the JIC will be the side responsible for following up on investors from the beginning stages of creating their projects to the production and even post-production phases, according to a JIC statement. 

He noted that the commission has a joint, complementary role alongside government stakeholders to facilitate all procedures for investors. 

At the inauguration, Aqaba Special Economic Zone Authority Chief Commissioner Nayef Bakhit highlighted the importance of attracting new Jordanian expatriates based in Saudi Arabia to Aqaba, as the city enjoys competitive features that make it a “distinguished” destination for investors from various countries.

Jordan Securities Commission Deputy Chairman Omar Zu’bi reviewed top investment opportunities in the Amman Stock Exchange, referring to the turnout of Saudi and Gulf nationals investing in the ASE. 

Social Security Investment Fund CEO Kholoud Saqqaf acquainted participants with the various investments of the fund, highlighting its endeavours to seek out local and foreign strategic partners with necessary technical expertise.

Maan Development Zone CEO Hussein Kreishan spoke about the competitive characteristics of the zone for attracting promising investments, mainly in the solar and wind energy sector as well as other sectors with the potential to drive the Kingdom’s economic growth, the statement said.  

Jordan Industrial Estates Corporation CEO Omar Jwaid reviewed investment prospects in these estates and incentives granted to companies within these facilities.

Al Thuraya Development Zone CEO Muhammad Husban briefed participants with features of the zone, which is close to the Syrian and Iraqi borders.

Jordanian businesspeople expressed their willingness to review these investment opportunities and to consider establishing investments in the Kingdom.

On the sidelines of the event, Wazani met with GIA Governor Ibrahim Al Omar over means to enhance Jordanian-Saudi Arabian ties in the investment field.

Wazani and the accompanying delegates listened to a briefing from Omar on the role of the authority as a sole reference for investors, as well as the reforms Saudi Arabia has implemented to join top countries supporting investors and entrepreneurs.

Also on Thursday, Wazani and the accompanying delegates visited the Riyadh Chamber of Commerce and Industry, where they met with President of the Investment and Securities Committee Muhammad Sayer, according to another JIC statement.

Wazani expressed the Kingdom’s readiness to attract more investments with profitable revenues and acquainted Saudi businesspeople with promising investment opportunities in Jordan. 

For his part, Sayer praised Jordan’s commitment to attracting investments, expressing hope that such visits will contribute to enhancing investment cooperation between Amman and Riyadh.