An improved business environment, updated legislation and reduced red tape are key to implementing the economic modernization scheme, said Investment Minister Muthanna Gharaibeh, also stressing a developed infrastructure and enhanced transparency toward sustainable growth.
The minister reviewed the investment landscape and public-private partnership projects during a seminar organized by the Jordanian Businessmen Association (JBA).
He said the government is forging ahead with the Red Sea-Dead Sea water conveyance project, which will be “a qualitative leap” in infrastructure and water supply in Jordan, given that the Kingdom is one of the world’s most water-scarce countries.
Gharaibeh highlighted His Majesty King Abdullah’s interest in enhancing the partnership between the public and private sectors, urging simplified procedures and cutting cost for local and foreign investors.
The government is committed to taking down barriers to investment through updating the paths of the economic modernization vision and upgrading performance indicators in the public sector in cooperation with foreign companies, noting Jordan’s competitiveness and quality products in global markets, He stressed the need to stimulate investment in the key technology, energy and industry sectors to prop up the economy.
For his part, JBA President Hamdi Al-Tabbaa said attracting local and foreign capital is a key pillar in the implementation of the economic modernization scheme, stressing tax facilities and deregulation to turn the Kingdom into a regional and international investment magnet.
He urged attracting expatriate Jordanian investors, drawing up a “clear investment map”, validating the one-stop-shop window for investors and providing tax incentives in priority sectors.
