Ammon News - Minister of Investment Khairy Amr said on Saturday that his ministry will extend all possible support for existing investments to grow and follow up on all stages of expansion.

He said in a press statement after a visit to Ain Fibres/Arab Creators of Carpets and Rugs Company that a newly-introduced investment law was to regulate the business and investment environment in the Kingdom in line with international best practices.

The legislation, he pointed out, will help promote a competitive environment, stimulate local investment, attract foreign direct investment and ease government procedures for economic activities.

The company's Director General Osama Abou El Enain said that the Board of Directors had endorsed an expansion of the company's manufacturing of carpets and rugs in the Kingdom at an additional investment of more than $23 million that will create 300 new job opportunities.

"Jordan is one of the most attractive countries for business due to its competitive advantages that help the Jordanian product to access many Arab and world markets," he said.

The company's actual investment before the expansion is now $43 million and it employees more than 500 male and female workers with products exported to most world countries, he said.