Ammon News - The Ministry of Investment announces in a statement issued on Tuesday an increase in the volume of projects developed to benefit from the investment law during 2022, to reach about JD1.1 billion, compared to about JD621 million during 2021, with a growth rate of 79.3%.

The ministry added that the number of projects benefiting from the investment law during the year 2022 amounted to 434 investment projects, with industry reaping the largest share with an investment volume of JD648.6 million, or about 58.3% of the total registered investments, followed, respectively, by tourism, which amounted to 233 million dinars, or 21% ,hospitals and medical centers 136 million dinars, or 12.3%, information technology 55.5 million, or 5%, and the agricultural sector 37.8 million dinars, or 3.4%.

The volume of expected employment that these projects will generate, according to studies submitted by investors, will reach approximately 21,000 job opportunities, the ministry indicated.

In its statement, the ministry stated that the volume of local and foreign investments benefiting from the investment law witnessed a significant increase during the year 2022, as domestic investment increased by 76.9% to reach 976.3 million dinars, while foreign investment increased by 98.3% to reach 137 million Jordanian dinars.

The increase in total investments benefiting from the Investment Law of 2022 came as an indicator of economic recovery and in response to the measures taken by the government to create an investment-friendly environment to encourage the business community to expand investment and production activities, in addition to enhancing investor confidence in the investment environment in Jordan, and its assertion that Jordan has attractive investment elements for investment and investors, according to the ministry.

In the statement, it was noted that the Ministry of Investment seeks to enable local investments in addition to increasing the flow of investments during the current year through its action plan, which is in line with what was stated in the economic modernization vision.

Regarding the Investment Environment Law No. 21 of 2022, which entered into force, it was emphasized that the new investment law came within the best international standards and practices.

The statement concluded that, according to the law, a grievance committee is formed to consider grievance requests submitted by investors to verify the validity of the measures taken or the decisions issued by the official authority.