Investment commission meeting discusses investor grievances bylaw

AMMAN — The Jordan Investment Commission (JIC) on Sunday held a consultative meeting with representatives of the public and private sectors to discuss the draft for the investor grievances bylaw.

The draft will organise procedures and mechanisms for the bylaw in dealing with investor grievances resulting from government decisions, according to a JIC statement.

JIC Chiarman Khalid Wazani said that the government has embarked on a reform programme to achieve higher growth indicators and structural reforms that will create more jobs, raise the efficiency of the public sector and stimulate the private sector growth.

He added that these reforms seek to transform Jordan into a "business gateway", since attracting foreign direct investment is a long-term process.

The JIC chairman stressed that enabling investors to maintain and expand their existing investments is as important as attracting new investments.

Wazani highlighted that a unit has been established in the JIC to follow up on the grievances of investors and find remedial measures.

The Cabinet in October 2019 approved the investor grievances bylaw No. 163 to implement a transparent mechanism to enable investors to file grievances resulting from any decisions issued by any government agencies, the statement added.

The bylaw also aims to address obstacles facing economic activity, and to find a mechanism for settling investment disputes between government agencies and investors amicably.

The bylaw assigns a grievance committee to study the obstacles facing economic activity and ways to address them by recommending them to the JIC chairman to refer them to the concerned government entities.