Jordan welcomes China to boost investment in energy, infrastructure | Business | Ammon News

Jordan welcomes China to boost investment in energy, infrastructure

[4/25/2017 3:06:47 PM]

AMMONNEWS - Jordan said on Monday the potential for Chinese companies to boost their investment in Jordan is extensive in various fields.

Addressing the Jordanian-Chinese Business Forum, Jordanian Minister of Trade and Industry, Yaroub Qudah, called on Chinese companies to benefit from the investment facilities and incentives provided in Jordan, especially in solar and wind energy, oil shale, pharmaceuticals and fertilizers sectors.

During the forum, held by Jordan's Chamber of Commerce, the minister said several investment opportunities exist in Jordan in the fields of energy and infrastructure plus tourism.

The minister added that Chinese companies investing in Jordan will benefit from a strategic geographic location due to Jordan's proximity to Syria, thus Chinese companies can play a key role in reconstructing Syria.

Stressing upon the strategic ties between Jordan and China in several areas, the minister said China is Jordan's second largest trade partner and that the trade exchange between both sides exceeded 3 billion U.S. dollars in 2016.

Qudan said Jordan is a gateway to Middle East markets and the country is a signatory to several free trade agreements with various countries such as Canada and the U.S.

Jordanian Chamber of Commerce President Nael Kabariti said diverse investment opportunities exist in Jordan, a country which enjoys both political and economic stability and security.

He added that the potential was substantial for increased partnerships between Jordan and China as well as both countries' private sectors.

The Chinese ambassador to Jordan, Pan Weifang, stressed the key strategic partnership between China and Jordan during his speech, noting that Chinese companies are involved in implementing mega projects in Jordan.

Furthermore, Chairman of China Council to Promote International Trade, Jiang Zengwei, heading a Chinese business delegation of over 20 entrepreneurs to Jordan, voiced China's readiness to boost collaboration with Jordan and to exchange official delegations in order to explore further cooperation opportunities.

The two sides signed a memorandum of understanding during the forum in order to effectively establish the Silk Road Business Council and promote joint investment between both countries and further develop their trade relations.

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