Saqqaf highlights Jordan’s significant progress in investment ecosystem

AMMAN — The ministry has automated 95 services to simplify procedures for investors, said Investment Minister Kholoud Saqqaf during a session on investments held on the sidelines of the “A Year of Modernisation” forum.

Saqqaf noted that the most significant achievement during the first half of 2023 was the approval of the investment environment regulation bylaw, which reduced the time necessary for providing investment services from 15 to seven working days, the Jordan News Agency, Petra, reported.

She also referred to a study and review of the list of investment opportunities, which analysed the feasibility of investing and showcasing 21 investment opportunities on the invest.jo’s interactive investment map, with an estimated volume of $1 billion.

Saqqaf noted that total investments benefiting from Jordan’s Investment Environment Law during H1 of 2023 increased by 47.6 per cent to JD598 million, compared with JD405 million during H1 of 2022.

Aqaba Development Company CEO Hussein Safadi announced that an agreement for the establishment of a data centre will be signed before the end of this year, including a direct internet line from Google, which will contribute to improving internet services and youth training.

In the same session, President of the Jordan Chamber of Industry Fathi Jaghbir, stressed that Jordan's industrial sector, which is among the oldest in the region and has a reach of over 142 countries, accounts for 80 per cent of investments, noting that the sector can contribute to reducing unemployment and addressing national economic challenges.