Jordan 'attractive' investment environment for businesspeople- Saqqaf

16-03-2023 09:30 AM

Ammon News - Minister of Investment, Kholoud Saqqaf, affirmed availability of multiple "comparative and competitive" privilges that make the Kingdom an "attractive and incubating" investment environment for businesspeople, including investors from Ireland.

Saqqaf made the remarks during the ministry's launching ceremony of Investment Opportunities Guide for Irish business community in Jordan on Wednesday, which was organized by Irish Embassy in Amman, in presence of Irish businesspeople.

Addressing the audience, Saqqaf said Jordan has investment opportunities in "competitive" sectors, such as information and communication technology (ICT), tourism, medical tourism, healthcare services and drugs, in addition to a range of investment opportunities based on sectoral partnership.

The guide featured benefits offered to Irish investors, focusing on five growth sectors: ICT, pharmaceuticals, foodstuff and beverage, tourism and mega-projects, according to a ministry statement.

Saqqaf added that Jordan and Ireland have "close" economic relations, especially in trade and investment areas, adding that launch of the business guide doesn't only signal prosperity of business activities between the two countries, but also reflects level of trust, commitment and excellent relations, which would hopefully increase Irish investments in the Kingdom.

Although the Kingdom does not constitute more than 3% of the population of the Middle East and North Africa region, but thanks to wise leadership of His Majesty King Abdullah II and his directives, she noted Jordan became home to 27% of the 100 largest Arab emerging companies that formed the 4th Industrial Revolution.

Jordan also ranked first at the pan-Arab level in terms of its contribution to Arabic content industry on the Internet, with a participation rate of about 75% of the total Arabic e-content, she pointed out.

Within the framework of efforts exerted to enhance local exports and their entry into foreign markets, Saqqaf noted Jordan has signed multiple international free trade agreements with the United States, Canada, the European Union, Singapore and Greater Arab Free Trade Area (GAFTA) to allow Jordanian product to reach more than 1.5 billion consumers around the world, adding that Jordan is a member of the World Trade Organization (WTO).

In her speech, the minister reviewed the government's key reforms aimed to enhance Jordan's investment position, primarily endorsing the new Investment Environment Law and its bylaw, and establishing Ministry of Investment.

She touched on the ministry's plans to attract and enable investments and ways to boost cooperation between the public and private sectors.

For his part, Irish Minister of State for Justice and Youth, James Brown, expressed optimism about the future of Jordanian-Irish economic relations, pointing to possibility of expanding Irish investment in the Middle East en route Jordan.

Brown stressed the importance of developing bilateral relations, calling on further increasing joint trade and highlighting the available future opportunities in this regard.

Meanwhile, Irish Ambassador to Jordan, Marianne Bolger, said she felt multiple "positive" aspects of doing business in Jordan, noting the Kingdom could offer a "unique" set of advantages for Irish investor through this guide.

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