JEF, UK trade envoy discuss investment opportunities, growth indicators

AMMAN — The Jordan Economic Forum (JEF) has held a meeting with new UK Trade Envoy to Jordan Lord Iain McNicol to explore prospects for enhanced cooperation and investment.

JEF Chairman Mazen Homoud, members of the board of directors, general assembly members, British Ambassador to Jordan Philip Hall and a representative from the UK Department for Business and Trade attended the meeting, according to a JEF statement.

The meeting focused on expanding bilateral cooperation, particularly in economic research and identifying high-value investment opportunities, emphasising the importance of building strategic partnerships to stimulate economic growth.

During the session, the forum presented a comprehensive overview of Jordan’s Economic Modernisation Vision (EMV), which aims to stimulate growth and attract investment to create sustainable jobs, thereby reducing unemployment and supporting both economic and social stability.

The forum also highlighted the “strength and resilience” of Jordan’s banking sector, noting its positive growth trajectory, which reflects “strong” investor confidence. 

The sector plays a vital role in financing economic activities, especially investments that support sustainable development.

Homoud welcomed the UK delegation and reaffirmed the forum’s commitment to fostering strategic partnerships with international institutions aimed at positioning Jordan as a leading regional hub for investment. 

He expressed appreciation for the UK’s “consistent” economic support to Jordan, most notably exemplified by the 2016 London Conference, which marked a “pivotal” moment in boosting economic cooperation between the two countries.

He stressed that the current phase requires intensified cooperation in advancing economic research to produce practical solutions for development challenges and to meet the economic goals of both kingdoms.

Homoud reiterated the forum’s commitment to “actively” connecting investors with real opportunities, pointing to Jordan’s competitive investment environment, supported by advanced infrastructure and a business-friendly legal framework. 

He invited British investors to explore new projects in renewable energy, technology and education.

For his part, Lord McNicol praised the economic reforms recently implemented by the Jordanian government, describing them as “crucial” steps towards enhancing economic stability and growth.

He expressed appreciation for the ongoing efforts to improve the business climate, affirming that Jordan holds significant potential to attract international investment.

He noted the Jordan-UK Free Trade Agreement, which facilitates “ambitious” bilateral trade cooperation, along with the free trade deals with the US, the European Union, countries of the Arab League and several others around the world, which offer valuable opportunities to Jordanian-based manufacturers and exporters.