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Ammon News -

Prime Minister, Bisher Khasawneh, on Wednesday attended the launch of a $100 million investment capital fund in the field of technology, in cooperation between the Ministry of Digital Economy and Entrepreneurship and the UAE's Abu Dhabi Developmental Holding Company (ADQ).

The Prime Minister said that the launch of the Jordanian-UAE investment fund is part of a set of agreements and understandings between the two countries, and within the framework of the deep-rooted bilateral ties led and sponsored by His Majesty King Abdullah and His Highness Sheikh Mohammed bin Zayed Al Nahyan.

"We are pleased to sign a memorandum of understanding between the Ministry of Digital Economy and Entrepreneurship and the ADQ to establish a fund for entrepreneurship and innovation, as a continuation of the memoranda of understanding and agreements signed earlier in Aqaba", the Prime Minister said during the signing ceremony.

"I was honored to preside over the Jordanian delegation to launch the integrated industrial partnership initiative for sustainable economic development, which was initiated by His Highness Sheikh Mohammed bin Zayed, President of the UAE, and aims to cooperate between the Jordan, the UAE and Egypt to create a state of economic integration and replacement that benefits from values added in the three countries" Khasawneh added.

The Premeir reaffirmed his confidence that "this initiative will be the first to expand this partnership to include other parties and areas that will benefit the peoples of our countries and the entire region."

"We and our people in the UAE always complement each other, and we have exceptional bonds and relations sponsored by His Majesty King Abdullah and His Highness Sheikh Mohammed bin Zayed" Khasawneh concluded.

The launch of the fund comes within the strategic industrial partnership between the Jordan and the United Arab Emirates.

The fund aims to support high-growth technology companies and promote the continued digital prosperity of the economy by financing start-ups in the field of technology and leading companies in specialized innovations in information technology, communication and financial services, in addition to education, food, agriculture, health, life sciences, transportation, logistics and clean energy technology.

The agreement was signed by Minister of Digital Economy and Entrepreneurship Ahmad Hanandeh, ADQ Managing Director and CEO, Mohamed Hassan Alsuwaidi.

 

Hanandeh said that the launch of the fund is a milestone on the Jordanian economic growth path, and reflects the government's interest and focus on partnering with leading global institutions to bring about change, and leave a positive impact on the economy.

"The ADQ investment along with the ministry in high-growth technology companies will help provide new opportunities within the digital sector in the Kingdom, and promote them in a way that enhances our position on the global technology map" Hanandeh added.

In turn, Alsuwaidi explained that the launch of the fund came due to the great potential of the technology ecosystem in the Kingdom, as the vital market in Jordan provides huge investment potentials in sectors that fall within the scope of the company's expertise.

He pointed out that this investment contributes to supporting the growth of the Jordanian market, facilitating access to leading companies, accelerating growth opportunities and enabling companies and entrepreneurs to benefit from the leading technology markets and funds.