The Jordanian Minister of Investment, Kholoud Al-Saqqaf, announced the launch of a special platform called “INVEST” which aims to help Jordanians living abroad to invest in their country. The Invest platform was launched during the eighth conference of Jordanian businessmen and investors held in Amman.
Jordanian Businessmen and Investors Conference
The first session of the conference started yesterday, with the participation of Jordanian investors residing in Bahrain, UAE, Ukraine, Qatar, China, Turkey, Germany, Kuwait, Oman, Indonesia, Saudi Arabia, Australia, Lebanon, Italy and Iraq. The conference targets several sectors such as financial, banking, communications, information technology, tourism, industry, health care, energy and renewable energy.
The Launch of the Invest Platform
Al-Saqqaf explained that the ministry’s most prominent achievement in improving the investment environment is the launch of this platform in Jordan which is the first interactive promotional electronic platform for investors in the country.
The platform aims to attract investment and enhance confidence in the investment environment, facilitating communication with investors locally and globally. In addition to that, Invest’s goal is to enable investors to learn about the business environment in Jordan, completing all legislation governing the investment sector and approving the investment promotion strategy for the years 2023-2026.
It is worth noting that approximately, there are two million Jordanian expatriates, according to 2022 statistics, they are distributed in about 70 countries in various proportions, including 75% in the Gulf countries, as the total value of Jordanians’ remittances abroad in 2021 amounted to about $2.17 billion, or 1.5% of the total GDP.
Improving the Investment Environment
The Minister of Investment also affirmed the keenness of the Ministry to apply the principles of the vision of economic modernization 2033, to provide an attractive environment for investment by following up on projects, identifying the needs of investors, and providing scientific and practical solutions to any obstacles that investors may face. The Minister also confirmed that the kingdom’s doors are open to investors, aiming to empower them and provide solutions that help the continuity of the investment process and increase its competitiveness.
In addition to activating the comprehensive investment service platform and completing the automation of 95 services related to licensing and practicing economic activities, in addition to the subsequent follow-up of investment projects, to enable and help them to expand.
Advantages of the Investment Environment Law
During the session titled “The Reality of the Investment Environment, Opportunities and Possibilities” from the perspective of the vision of economic modernization, Al-Saqqaf stated that the reforms that took place contributed to an increase in the volume of total investments benefiting from the investment environment law in Jordan during the first half of this year by 47.6 percent.
Al-Saqqaf also reviewed, during the session, which was attended by several ministers, the most important advantages of the investment environment law, which included defining the principles on which the general investment policy in the Kingdom is based. As well As determining the rights and privileges of investors, and the most important incentives and exemptions approved by the law and granted to investment projects, whether inside or outside the development areas or the tax-free zones.