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Ammon News - Minister of Investment, Kholoud Saqqaf, called on increasing Saudi investments in Jordan, especially since the Kingdom has multiple diversified investor opportunities in several economic sectors.

Receiving head and members of the Saudi-Jordanian Parliamentary Brotherhood Committee in the Saudi Shura Council (SSC) on Thursday, Saqqaf Saudi investments in the Kingdom have a "major" role in Jordan's economic development and are among the "key" investments that contribute to Jordan's development process and provide job opportunities for Jordanian youth.

To keep pace with developments in business environment and increase competitiveness in attracting investments, Saqqaf noted Jordan's Investment Environment Law was endorsed and its bylaw features the best international practices, which offers multiple priviliges.

In this regard, Saqqaf noted the law treats Jordanian and non-Jordanian investors alike, defines principles of Jordan's investment policy and elaborates investors' rights and privileges, as well as key incentives and exemptions granted to investment projects.

The minister also noted the government's keenness to stimulate flow of local, Arab and foreign investments and efforts to attract additional Saudi investments during the coming period, to take advantage of the "promising" development opportunities in various sectors and develop existing projects in Jordan.

During the meeting, the delegation was briefed on the key targeted investment sectors in Jordan, primarily high-value industries, information and communication technologies (ICT) health care, tourism, water, energy, mining, agriculture, education and logistics, in addition to the important partnership projects between the public and private sectors.

For his part, Head of the Saudi-Jordanian Parliamentary Brotherhood Committee, Ibrahim Qannas, lauded level of Jordanian-Saudi economic relations and the steps taken by Jordan's government to improve investment environment, which would reflect "positively" on attracting more investments.

Qannas said Saudi capital views Jordan as an "important" investment destination in the region, given the two countries' close relations and Jordan's comparative and competitive privilges in the business environment.

He also referred to Saudi Arabia's interest to increase volume of its investments in Jordan in multiple sectors.