Ammon News, Business

Government open to setting up Turkish industrial zone

[4/18/2019 4:40:52 PM]

AMMONNEWS - Minister of State for Investment, Muhannad Shehadeh, said the Jordanian government and the Investment Promotion Authority (IPA) are open to the idea of opening a Turkish industrial zone within the industrial cities and is committed to providing all facilitations to support Turkish investments in the Kingdom. During a visit of an investment delegation representing the largest Turkish industrial companies on Thursday to the IPA, the minister noted the Turkish companies can benefit from Jordan's geographical location Jordan, which is a gateway for access to international markets. In this context, Shehadeh said this advantage is made possible through a series of free trade agreements with the world's largest economic blocs, which guarantees preferential access to the markets of more than 1.5 billion consumers. "Jordan has expertise and human resources that can be utilized, in addition to the several promising economic sectors, such as information and communication technology, renewable energy, tourism and manufacturing industries," he said, calling on Turkish companies to explore these "promising" investment opportunities. The minister pointed to the most important economic reforms that have been taken with the aim of improving the Kingdom's investment environment, stressing the IPA's commitment to assist and facilitate all transactions of Turkish investors and to provide the necessary information they need, in addition to ensuring speed of processing their procedures. For their part, Turkish businesspeople praised the measures taken by the Kingdom to improve the investment climate, which encourage Turkish companies to pump more investments into Jordan in the coming period, in light of the promising investment opportunities in various sectors. The visit, organized by Jordanian embassy in Ankara, aims to highlight the Kingdom's investment opportunities and to launch Turkish industries, as part of the Ministry of Foreign Affairs and Expatriate's plan to support national economic development programs through its continuous contacts with international economic events. The Turkish delegation included 10 businesspeople representing 16 companies in the fields of car parts, and industries of elevator, ceramics, porcelain, specialized plastic industries and natural gas installations.

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Jordan, Georgia discuss boosting bilateral relations

[4/18/2019 5:50:58 AM]

AMMONNEWS - Senate President Faisal Fayez , on Thursday, held talks with Georgian Prime Minister Mamuka Bakhtadze on bilateral ties, means of enhancing them and the current situation in the region, especially the Palestinian cause and the Syrian crisis. The meeting came as part of Fayez's official visit to Georgia upon an invitation from the Georgian Parliament Speaker Irakli Kobakhidze, where he will meet a number of senior officials there. During the talks, Fayez stressed the strength of Jordanian -Georgian relations and the keenness of His Majesty King Abdullah II to further cement and improve them in various fields to serve the interests of both countries and peoples. He also pointed to the importance of activating bilateral agreements and launching new partnerships, mainly in religious and therapeutic tourism, calling on Georgian investors and businesspeople to benefit from the investment opportunities available in the Kingdom and its strategic location, which makes it a platform for regional and global business and investment. Jordan enjoys wide regional and international ties, has signed several important regional and international free trade agreements, Fayez added, noting it also has many economic, development and free zones. The Senate president appreciated Georgia's stance towards Arab issues, highlighting His Majesty King Abdullah 's efforts to resolve the Palestinian cause, and end the Syrian crisis and the war on terror. Fayez urged the international community to exert "true" pressure on Israel to resume peace negotiations, based on the two-state solution in order to establish an independent Palestinian state with Jerusalem as its capital and accept the international legitimacy resolutions. "Jordan has been able to maintain its security and stability despite regional turmoil thanks to the wisdom of His Majesty and Jordanian citizens' awareness," he pointed out. For his part, the Georgian prime minister voiced Jordan's role under King Abdullah's leadership in supporting the international efforts to reach about peace and stability in the Middle East and fight against terrorism. Bakhtadze confirmed the importance of boosting cooperation between the two countries, stressing his country's keenness for further develop them through building new partnerships with Jordan to serve the interests of both sides. In another meeting later, the Senate president also met with the Georgian Foreign Minister to discuss the current situation in the Middle East, the need to resolve existing conflicts and to call on Israel to accept the two-state solution and implement international legitimacy resolutions pertaining to the Palestinian cause. Fayez discussed the repercussions of the region's political and security crises, as well as their economic effects on Jordan, stressing the importance of putting an end to them to achieve peace and stability. For his part, the Georgian top diplomat lauded Jordan's ability to overcome the difficulties caused by the crises, and the major role it plays, under the leadership of His Majesty King Abdullah, in supporting international efforts to end the conflict, combat terrorism, and provide care for Syrian refugees. During the official visit, Fayez also met with Patriarch of the Georgian Orthodox Church Ilia II and a number of clergy to discuss the importance of promoting intercultural dialogue and underlining the common denominators of religions. Fayez said the goal is to reject violence and extremism and boost values of harmony and acceptance of the other. He pointed to the Amman Message and several dialogue sessions and conferences held, led by King Abdullah, that focused on common denominators among the followers of the monotheistic religions and consolidating noble and humane values. "Jordan is a model of coexistence between all its racial, religious and social components," he said, adding the Kingdom has many Christian sites and some of the oldest churches, extending an invitation to Georgians to visit these sites. In turn, Patriarch Ilia II commended King Abdullah's efforts in spreading the values of amity and brotherhood and strengthening them among the followers of the monotheistic religions. He said the Kingdom is a paradigm in terms of calling on increasing noble and humane values and unity among its people

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Jordan's tourism revenue reaches $1.3 bln in Q1 of 2019

[4/17/2019 7:01:13 AM]

AMMONNEWS - Jordan's tourism revenues to the end of the first quarter of 2019 surged to JD1.3 billion, up by 5.2 percent compared with the same period in 2018, revealed the monthly statistical report of the Ministry of Tourism and Antiquities on Wednesday. In a press statement, the ministry said the number of international foreign visitors picked up by 33.3 percent in 2019, and the growth rates of overnight visitors edged up by 36 percent, while the growth rates of tourist groups reached 19.7 percent.

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FM : Turkish industrial investment delegation starts visit to Kingdom

[4/16/2019 3:06:34 PM]

AMMONNEWS - A Turkish delegation of senior investors in the industrial sector in the Turkish city of Bursa began on Tuesday a working visit to the Kingdom organized by the Jordanian embassy in Ankara, the Foreign Ministry said. In a statement issued Tuesday evening, the ministry said the Turkish delegation will be briefed during the visit, which continues through April 20, on investment opportunities and the possibility of launching Turkish ventures in the Kingdom. The Jordanian Embassy in Ankara, in cooperation with the Industrial Estates Corporation (JIEC), prepared a work program for the Turkish delegation, which includes field visits to many Jordanian industrial cities and Aqaba Special Economic Zone, as well as meetings with many Jordanian industrial figures. The visit comes within the framework of the ministry and the Jordanian embassy's plans to support national economic development programs through its continuous interaction with international economic entities. Jordanian Ambassador to Ankara Ismail Rifai paved the way for this visit by holding several meetings with owners of Turkish factories to showcase Jordan's advantages through its geographical location and signed agreements. He also visited several factories in the city of Bursa to check on the advanced level Turkish industries have reached, where the possibility of transferring Turkish skills to the Jordanian workforce was discussed through a cooperation program to train Jordanian manpower in Turkey. The city of Bursa is considered the industrial capital of the Turkey, with 23 industrial cities comprising a total of 1652 factories with a total exports of $14 billion annually.

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Amman Bourse opens trading with drop

[4/16/2019 8:13:23 AM]

AMMONNEWS - The Amman Stock Exchange (ASE) Tuesday opened trading with a drop to 1,897 points from its yesterday's closure at 1,899 points. The market index fluctuated in the first 15 minutes of today's session between 1,897 points and 1,900 points with a trading volume reaching JD1.8, .

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Minister: High cost of refugee crisis, energy bill main challenges facing Jordan

[4/15/2019 4:48:56 PM]

AMMONNEWS - Minister of Finance Dr. Ezzedine Kanakria said that Jordan remains committed to financial and economic reforms in both government revenue and expenditure, including the introduction of the new income tax law. Speaking at a meeting in Washington under the chairmanship of International Monetary Fund (IMF) President Christina Lagarde and the presence of finance ministers from the Middle East and North Africa, Kanakria said that the government is currently working to promote economic growth but the high cost of hosting more than 1.3 million refugees and high energy bills remain major stumbling blocks to growth. He pointed out that these challenges are beyond the capacity of Jordan unless there is international support to mitigate their effects, stressing that these challenges deprived Jordan from obtaining the fruits of the reforms that have been implemented. The Minister of Finance stressed that Jordan is striving to encourage investment to promote economic growth, expressing thanks to the donor community and said Jordan hopes for additional support.

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Jordan participates in WBG, IMF Spring sessions

[4/15/2019 7:46:08 AM]

AMMONNEWS - Jordan is participating in the Spring Meetings of the boards of governors of the World Bank Group (WBG) and the International Monetary Fund (IMF), kicked off in Washington on April 10, to be concluded later today. During the sessions, Minister of Finance, Izzeddin Kanakrieh, held a series of meetings and discussions with officials of the two world bodies as well as leaders in the US Treasury and State Department. Talks during the meetings with the US officials tackled the bilateral economic ties and the US assistance program to Jordan. The minister also discussed with his counterparts from Saudi Arabia, Kuwait and UAE bilateral relations and means of cooperation. On the sidelines of the Spring meetings, Kanakrieh took part in a seminar on strengthening "Social Safety Net (SSN) in MENA region, where he outlined the Kingdom's measures in this regard, saying Jordan has increased the number of beneficiaries of the National Aid Fund and developed cash support mechanism. Kanakrieh delivered a speech at MENA finance ministers meeting, in presence of IMF Managing Director, Christine Lagarde, highlighting Jordan's experience in financial and economic reform and the importance of maintaining monetary stability as the cornerstone for promoting economic growth. The minister also held a series of separate meetings with the director of the Middle East and Central Asia department at the IMF, Jihad Azour, as well as a number of senior officials concerned of the financial and economic reform program being implemented in cooperation with fund . The minister's meetings were attended by the Jordanian delegation, including Minister of Planning and International Cooperation, Mary Kawar, Minister of Energy and Mineral Resources, Hala Zawati, Secretary General of the Ministry of Finance, Abdul Hakim Al Shibli, Secretary General of the Ministry of Planning, Zeina Toukan, and Deputy Governor of Central Bank of Jordan, Maher Sheikh. Following his meetings in Washington, Kanakri told Petra's reporter that discussions with the IMF officials on the Kingdom's financial reform program were constructive and positive. He expressed satisfaction over completing the second review of Jordan's economic reform program, expected according to the minister, to be discussed by the IMF Board of Directors at its regular meeting to be held late April. The Spring Meetings of the Boards of Governors of WBG and the International Monetary Fund (IMF) bring together central bankers, ministers of finance and development, parliamentarians, private sector executives, representatives from civil society organizations and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness.

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