AMMAN — Minister of Investment Tariq Abu Ghazaleh on Thursday attended the signing ceremony of a new local investment agreement in the food industry sector, with an investment volume exceeding JD20 million.

 

The signing ceremony was attended by the director of the investing company and the acting Director General of the Jordan Industrial Estates Corporation (JIEC), Uday Obeidat.

 

Speaking at the ceremony, Abu Ghazaleh said this project represents a "qualitative" addition to the food industry sector and contributes to enhancing food security, the Jordan News Agency, Petra, reported.

 

The minister added that the project also plays a role in boosting community development, stimulating economic growth, and providing sustainable job opportunities, starting with around 50 jobs in its initial phases and increasing to about 500 jobs upon completion of its operational stages.

 

The minister referred to the concerted efforts of Jordan's various ministries and institutions to support and empower local investors.

 

The Ministry of Investment continues to facilitate the investor journey and simplify procedures within an integrated system of legislation and investment incentives, in line with the objectives of the Economic Modernisation Vision, he pointed out.

 

The minister stated the project, to be located in Al Muwaqar Industrial Estate ( MIE), comes amidst rapid growth in local investment, which reflects a "clear message of confidence in the strength and attractiveness of Jordan's stimulating investment environment, characterised by legislative stability and the availability of qualified infrastructure."

 

Director of the investing company Ehab Alshurafa, said the new enterprise will be built on a 46-dunum plot of land, which will house the main food processing industry and a number of complementary supporting plants.

 

Al Shurafa added that this project is an extension of a series of "successful" investments by the investing company in the Kingdom, based on its belief in the importance of national investment and its contribution to supporting the local economy, community development, and providing direct and indirect job opportunities.

 

He praised the government's support and the Ministry of Investment's efforts to enhance the investment environment and support local investors, in cooperation and coordination with the Jordan Industrial Estates Corporation and other relevant institutions.