Foreign direct investments jump by 87 per cent in second quarter of 2017

AMMAN — The Council of Ministers on Wednesday outlined the achievements of the Jordanian economy including the increase of foreign direct investments (FDI), the Jordan News Agency, Petra, reported.

According to the Central Bank of Jordan (CBJ), FDI in Jordan rose by 87 per cent during the second quarter of 2017, reaching JD435.5 million compared to JD232.7 million during the same period of 2016.

State Minister for Investment Affairs Mohannad 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 included facilitating the process to obtain driving licences for investors that carry investment cards, he noted. 

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

Also on Wednesday, the Cabinet approved amending by-laws of the Jordan Armed Forces’ Housing Fund for Officers and the Military Housing Fund 2017, with the aim of improving the livelihoods of the members of military and security agencies.

The amendments raised the housing loans for officers to JD30,000 and JD15,000 for personnel.

The Cabinet also approved an amended by-law of a life insurance fund for subscribers of the Military Housing Fund 2017 and the amended vehicles number plate by-law 2017, which regulates possessing and trading number plates with distinctive numbers.

According to the amendments, a plate with one digit will be worth JD30,000, one with two digits JD20,000, three digits JD10,000, four digits JD6, 000 and JD5, 000 for plates with five digits.