Official: slow and vague procedures hinder investments in Jordan

Home Business Official: slow and vague procedures hinder investments in Jordan 27-04-2013 10:15 PM Ammon News - Ammon -Awni Shdaifat, acting CEO of the Jordan Investment Board, warned that the most important challenges facing investments in Jordan are the slow and vague procedures practiced by some government institutions. He noted, however, that the size of investments benefiting from the investment promotion law increased during the first quarter of 2013 to reach JD567 million, compared to JD425 million during the same period of 2012. Total investments, which had appeared to benefit from the investment promotion law during the first quarter of 2013, reached JD567.5 million compared with JD425.4 million during the same period of 2012; a growth rate of almost 34.7%, Shdaifat pointed out. In a press release on Tuesday, Shdaifat added that local investments reached JD217.6 million, 38% of the total investments, and the value of foreign investments was JD350 million, or 62% of total investments. He pointed out that investments during the first period of 2013 were predominantly in the fields of industry, hotels and hospitals, at 80%, 12.6% and 6%, respectively. Shdaifat explained that investments are categorized as part of those sectors with high added value, which generate income and provide new job opportunities. These investments are expected to some 4,000 jobs, according to officials.

Home Business

Official: slow and vague procedures hinder investments in Jordan

27-04-2013 10:15 PM

Ammon News - Ammon -Awni Shdaifat, acting CEO of the Jordan Investment Board, warned that the most important challenges facing investments in Jordan are the slow and vague procedures practiced by some government institutions.

He noted, however, that the size of investments benefiting from the investment promotion law increased during the first quarter of 2013 to reach JD567 million, compared to JD425 million during the same period of 2012.

Total investments, which had appeared to benefit from the investment promotion law during the first quarter of 2013, reached JD567.5 million compared with JD425.4 million during the same period of 2012; a growth rate of almost 34.7%, Shdaifat pointed out.

In a press release on Tuesday, Shdaifat added that local investments reached JD217.6 million, 38% of the total investments, and the value of foreign investments was JD350 million, or 62% of total investments.

He pointed out that investments during the first period of 2013 were predominantly in the fields of industry, hotels and hospitals, at 80%, 12.6% and 6%, respectively.

Shdaifat explained that investments are categorized as part of those sectors with high added value, which generate income and provide new job opportunities.

These investments are expected to some 4,000 jobs, according to officials.

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