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Ammon News - The Lower House Economy and Investment Committee, headed by MP Omar Naber, approved a slew of amendments of 2022 Companies Law.

During its meeting on Sunday, Naber said the committee will examine all proposals and recommendations to endorse a new law that keeps pace with Economic Modernization Vision (EMV).

The bill, he added, aims to facilitate and streamline procedures related to corporate business, which saves effort and costs for partners and shareholders.

In addition, the lawmaker noted the draft contributes to enhancing competitiveness of Jordan's business environment, attracting foreign investment and ensuring stability of related legislation, which would advance Jordan's economic development.

The draft would also support small and medium enterprises (SME) and startups and realize consistent business-oriented legislative environment, including insolvency and securities laws, according to Naber.

For his part, Minister of Industry and Trade, Yousef Shamali, said the bill comes within the EMV framework, in parallel with Jordan's investment environment law that was endorsed last year.