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    JIC head calls on Ukrainian companies to invest in Jordan

    November 22, 2020
    finance & economy

    Petra)- Chairman of Jordan Investment Commission, Dr. Khaled Wazani, called on Thursday, the Ukrainian companies to direct their investments to Kingdom, given its 'promising and feasible' investment environment and opportunities.
    Jointly organized by the JIC and the Ukrainian embassy in Amman, Wazani's call came during a meeting held remotely with a group of Ukrainian companies interested in investing in the Kingdom.

    Wazzani said the investor is looking for 'feasible, profitable' investment opportunities, accordingly the JIC has prepared a file detailing the Kingdom's most 'promising' investment opportunities, which have totalled 75, with an investment volume of $4.5 billion, including initial feasibility studies in many economic, and diversified investment sectors, such as industry, services, tourism, agriculture and the health, in addition to investment opportunities in energy and mining.

    Jordan, to keep pace with the investor aspirations to provide an attractive and competitive investment climate, has taken many steps to improve the business and investment environment in the Kingdom, which was reflected in progress of Jordan's international ranking in the the World Bank and the 2020 Doing Business reports, according to Wazani.

    Jordan was placed among the top three countries in the world in terms of improving business resilience, and ranked the 10th in implementing reforms, Wazani pointed out.
    On the JIC handling of the Covid-19 pandemic, he said the commission, in order to preserve the investor interests during the crisis which had a significant impact on many world economies, has worked, with government directives, to develop an emergency and sustainability plan to deal with investment project applications that ensure expedited procedures to spare the investor time and effort.

    To achieve this bid, the JIC's investment services were primarily offered remotely, which is the largest e-services project provided by a single institution, he noted.

    The number of investment projects that have applied to benefit from the Investment Law during the first three quarters of 2020 amounted to 289, with an investment volume of approximately $683 million, and expected to offer 10176 job opportunities to Jordanian labor, and cover investments in industry sectors, hospitals, specialized medical centers, tourism, agriculture, artistic production and information technology, Wazani noted.

    During the meeting, Wazani reviewed the most important advantages and investment incentives offered to investment projects in Jordan, in addition to attractive factors that help to enable and sustain investments, primarily Jordan's signing many free trade agreements with trading partners around the world, which enables investors to deliver their products to more than a billion and a half consumers.

    For his part, the Ukrainian Ambassador to Jordan, Myroslava Shcherbatiuk, emphasized the JIC's efforts to provide the necessary support to all companies interested in investing in the Kingdom, indicating that Ukrainian firms and businesspeople, who are considering the possibility of expanding their activities and investment in the Jordanian economy, will receive information and full support from the Jordanian government and the commission.

    Jordan is a country that enjoys political stability as a result of the wise policy of His Majesty King Abdullah II, in addition to being a gateway to many of the region's markets, as well as providing a competitive and attractive investment environment for investors, according to the envoy.

    The ambassador has also touched on the Ukrainian business sector, describing it as rapidly growing, and its strength and capabilities exceed Ukraine's borders, looking forward to expanding relations between the two countries, especially in economic and investment fields, and increasing joint trade and economic exchange.

    petra

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