‘Foreign direct investment up by 87% in Q2’

AMMAN —State Minister for Investment Affairs Mohannad Shehadeh said foreign direct investment (FDI) in Jordan rose by 87 per cent during the 2nd quarter of 2017 compared to the same period of last year.

The remarks came during a discussion panel organised by the American Chamber of Commerce in Jordan (AmCham) and attended by the chamber’s Chairman Mohammed Bataineh, the US Chargé d’Affaires in Amman Henry Wooster and representative from the US embassy and USAID, in addition to representative of the Jordanian public and private sectors.

During the panel, Shehadeh outlined the ministry’s measures to encourage investment including the establishment of a fast lane for investors at the Queen Alia International Airport and reducing the number of security approvals and registration procedures. 

The measures also include facilitating the process to obtain driving licences for investors that carry investment cards, the minister added.

The ministry, in cooperation with USAID, prepared a new promotional strategy that identified the countries and priority sectors that will be targeted, according to Shehadeh.

He noted that a specialised team from the ministry launched the investment strategy of Irbid, 80km north of Amman, and will visit the rest of the governorates during the next two weeks in a roadshow to complete the process.

Shehadeh said that the Jordan Investment Commission is working on opening new markets for Jordanian exports, especially in Africa, noting the negotiations with an African company to benefit from Jordan’s trade agreements that were signed with the US, Canada and the EU. 

He also stressed the “important” role that Jordan will play in Iraq and Syria’s reconstruction process.