PM: Investments attracted during Covid-19 reflect confidence in Jordan's economy | Jordan News | Ammon News

PM: Investments attracted during Covid-19 reflect confidence in Jordan's economy

[7/8/2020 4:29:14 PM]

AMMONNEWS - Jordan has demonstrated its strength, resilience and solidarity, and enjoys "robust" institutions that have enabled it overcome challenges and hardships, to then emerge a stronger nation, Prime Minister, Omar Razzaz, said.

During his visit on Wednesday to the Jordan Investment Commission (JIC), Razzaz noted the volume of investments that Jordan attracted during the Covid-19 pandemic period "reflects confidence in Jordan and its economy," adding the new 52 investments in the industry, tourism, health and information technology sectors are worth JOD50 million, and employ about 1,100 Jordanians.

Speaking during the meeting with the JIC Chairman, Khaled Wazani and a group of local and Arab investors, Razzaz said the Eurobonds issuance recently made by Jordan was oversubscribed six-fold and with a lower interest "than we expected."

His Majesty King Abdullah II is counting on investment, and always focuses on having an opportunity to make Jordan a regional hub to attract investments that serve the country, the region and the world, according to Razzaz.

The PM continued to say: "We are determined to learn from the Covid-19 pandemic experience to help recovery and boost resilience of the Jordanian economy, both in energy and water fields, as well as our foodstuff storage, industrial and export capacities."

On Jordan's investor appeal, the PM pointed to Jordan's "competitive" sectors, adding the whole world is looking for investment opportunities in a "stable" environment, as major companies flock the Kingdom to open branches.

"Jordan enjoys political, societal, economic and monetary stability and we have a hard currency reserve that covers our imports for a period of 8 months, in addition to the public's solidarity demonstrated during the pandemic, as well as our health circumstances, achieved by cooperation of the public and private sectors," the FM pointed out.

Moreover, Razzaz said this is a message to the whole world that there is "true" stability in the Kingdom and its strong institutions are capable of overcoming all difficulties.

Reviewing the private sector's difficulties globally, the PM said the challenge is how to counter and capture the basic opportunities that have emerged in light of Covid-19 crisis and invest in them.
The PM also commended the JIC's efforts to complete the project to automate all its services by the end of next October, stressing the importance of the JIC's Investor Affairs Unit to follow up and overcome any obstacles facing investors.

Addressing the investors, the PM said: "Your confidence in Jordan, its economy and your investment are thanked. Thanks also go to the existing industries that have expanded or that have added new production lines or commodities that they did not produce, or export earlier. The government will support this approach with all its energy."

For his part, Wazani said the premier's 4th visit reflects the extent of the government's interest in the incentives and facilitations provided by the JIC to investors.

Razzaz was briefed during the visit on the new investments over the period spanning from the beginning of 2020 to June, especially in the Covid-19 period, according to Wazani.

On investment figures, Wazani said 905 projects were either launched, or expanded during the past six months in the Kingdom, adding 52 projects were announced during the March-June period, with an investment volume exceeding JOD50 million.

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