Optimism in London presents great opportunity for Jordan, says PM

AMMAN — Jordan enjoys a positive and encouraging investment environment and has an economy that can overcome the geopolitical challenges of the region, Prime Minister Omar Razzaz said on Sunday.

During an interview with Al Arabiya TV, on the sidelines of the “Jordan: Growth and Opportunities” conference in London last week, Razzaz said that the testimonies of international investors’ in the London initiative reflected their optimism in the prospects of investment in Jordan, the Jordan News Agency, Petra, reported.

They offered an exceptional opportunity to speak about the past 10 years and the challenges Jordan overcame, despite the regional turmoil and its repercussions, the premier added.

Most of Jordan’s challenges were external and the country managed to control the fallout, the prime minister said.

The Kingdom now has an attractive economic environment, he added, where the government implemented several procedures to enhance the attractiveness of Jordan’s market. 

The Kingdom is distinctly situated to attract more international investors, thanks to the testimonies of investors who spoke positive about their experiences establishing businesses in Jordan, the premier said.

At this point, Jordan’s main target is to provide jobs, Razzaz stressed.

Jordanian youths have great potential and high levels of education, he noted, adding that utilising these capacities requires investment and a stimulating environment for creativity and initiatives to nourish.

He called on international companies to look to Jordan as an investment opportunity for reconstruction in the region and a hub for exporting services regionally and to Gulf Cooperation Council states.

The premier also went over the benefits of Jordan’s free trade agreements with the US and Europe, which have given Jordan an important competitive edge. 

That is in addition to the various investment opportunities in the health, tourism and educational sectors, which are promising and important fields of the country’s economic future, he continued. 

Also speaking to Al Arabiya on the sidelines of the same conference, Saudi Finance Minister Mohammed Al Jadaan stressed that his country is discussing additional support packages to Jordan with Kuwait and the UAE, according to Petra.

Jadaan underlined that the Kingdom of Saudi Arabia (KSA) has so far deposited $334 million at the Central Bank of Jordan and offered assistance through the Arab Fund for Economic and Social Development.

He also referred to the establishment of the Saudi-Jordanian Fund for Investment with a capital of $3 billion.

The minister added that, two weeks ago, his country announced a project to establish a railway and a land port in Maan with an investment volume of $700 million.

Jadaan noted that the Mecca summit alone has provided more than $2 billion to Jordan.

He reaffirmed that Riyadh is committed to its pledges to support Jordan’s general budget with $250 million, $50 million of which was paid last year and $50 million this year.