ammonnews.net

Ammon News - The Council of Ministers on Monday approved the mandating reasons of draft legislation regulating the investment environment and business-doing in the Kingdom.

In a session chaired by Prime Minister Bisher Khaswneh, the ministers referred the draft law, as a matter of urgency, to the Legislation and Opinion Bureau for debate in order to be referred to the lower House in the coming days as per the constitution.

The legislation is meant to streamline the investment climate and business-doing to enhance the competitiveness of the Jordanian economy and its capacity to attract investment.

It also aims to remove red tape and hindrances to doing business, and enhance the government's role in protecting investors and their businesses from prompt decisions through unifying investment legislation.

The draft seeks to unify and quicken required approvals for most economic activities, standardize references and remove complications as it defines the roles and tasks of relevant ministries and entities to save time, effort and money.

To give post-investment services utmost attention and follow-up on investors' affairs, the legislation offers one-stop-shop service for registration and licensing of economic activities through a single window, where only one license is issued in a quick and simplified manner enabling investors to immediately start business.