Murad applauds gov't plans to stimulate growth, investment

AMMAN — Amman Chamber of Commerce (ACC) President Issa Murad on Sunday expressed the private sector's appreciation for the recent government decision to launch procedures aimed at stimulating the investment environment and increasing the economic growth in the Kingdom.

In a statement carried out by the Jordan News Agency, Petra, Murad said the investment decision announced by Prime Minister Abdullah Ensour on Saturday at the Jordan Investment Commission (JIC), would have a great effect in boosting the national economy's competitiveness.

Murad described these decisions as "constructive" and added that they could stimulate economic activity and help Jordan improve its ranking on the foreign investment attraction index.

The government's decision to grant the transportation sector some tax and customs exemptions represent a "qualitative leap" in motivating the sector to present better services to citizens, the ACC president indicated. 

By granting government incentives, with certain conditions, to companies owning 20 buses would encourage consolidation among public transportation companies in the near future, he elaborated.

The president also commended the government's decision to extend the exemption period for some unfinished projects, reiterating the importance of the decision in enhancing some major projects which encountered difficulties and were not able to complete the jobs   on time, Petra reported.

Expanding the incentive umbrella to include ICT sector activities within the Investment Law is also a positive step, Murad said, stressing that the ICT sector is essential in developing economies in general.

He also expressed the chamber's appreciation for the JIC's efforts in boosting Jordanians' capabilities, praising the draft bylaw of residence, labour and workers at development areas and free zones, which organises labour issues and give priority to Jordanians to work in these schemes, according to Petra.