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Ammon News - Senate President, Faisal Fayez, stressed the importance of strengthening partnership between various public and official institutions, aimed to facing economic challenges and consolidating "social responsibility" in the context of seeking to improve the citizens' living conditions and mitigate poverty and unemployment problems Petra reported.

Fayez made the remarks while attending on Sunday the signing ceremony of a memorandum of understanding (MoU) in the investment and business field between Al Nashama Forum For The Jordanian Community Around The World and Economic & Social Association of Retired Servicemen & Veterans (ESARSV).

Fayez, who is also the ESARSV's honorary head, said the concept of partnership aims to face economic challenges, which would push establishment of joint investment and economic projects between various civil society institutions whose effects are reflected on local communities in various governorates, according to Petra.

It is all's responsibility to seek incentives that stimulate empowerment of this joint partnership, aimed to achieving economic and social development, through the establishment of projects that have economic feasibility and employ manpower, Fayez said..

Under the MoU, signed by the ESARSV's president, Mohammad al-Fahmawi, and the forum’s founder and president, Dr. Ayman Rifai, the ESARSV supports the expat forum to set up a Jordanian Expatriate Fund, focusing on the investment and solidarity dimensions, which seeks to establishing joint investment projects to back the national economy.

A joint investment committee will be set up from both bodies to study and approve projects, per the MoU.

Moreover, the forum will network the ESARSV with business owners and investors locally and worldwide and assumes marketing business projects to lure investment contracts based on its relationship network.

The ESARSV, meanwhile, prepares economic feasibility studies for future projects, and organizes various activities held by the expat forum Inside and outside the Kingdom.