AMMAN — Prime Minister and Minister of Defence Bisher Al Khasawneh on Saturday stressed the need to unify investment references and activate the investment window by providing it with commissioners having the full authorities of stakeholders, so as to speed up work procedures.

 

Chairing a meeting of the Investment Council, Khasawneh called for developing a “clear strategy” to deal with investment and end all bureaucratic obstacles that still form the biggest hindrance for investments, the Jordan News Agency, Petra, reported.

 

In this regard, the prime minister reiterated the government’s commitment to taking all procedures necessary to empower existing local and foreign investments and attracting new ones.

 

Investment is a central and main issue to address some pressing problems, such as unemployment and other challenges facing the national economy, he noted.

 

The premier also pointed out that the private sector is a main partner in the development and investment process, expressing the government keenness to provide a suitable environment for the private sector to work and prosper.

 

Council members listened to a presentation delivered by Minister of Labour and Minister of State for Investment Affairs Maen Qatamin on the future of investment in Jordan. The presentation included an action plan aimed to the provision of a proper environment to attract more investments.

 

Qatamin said that the Kingdom’s economic policy focuses on supporting investment and institutional coordination, in addition to legislative stability, noting that among top challenges are having multiple references, bureaucracy, lack of partnership between the public and private sectors and high energy costs.

 

Members of the council stressed the importance of enhancing the Kingdom’s competitiveness and its ability to attract and localise more investments given they play an important role in realising economic development and generating jobs for Jordanian youth.

 

They also called for focusing on sectors where Jordan enjoys added value, such as the services, digital economy and tourism sectors.