Private sector to implement investment strategy

AMMAN — In cooperation with USAID, the Jordan Investment Commission (JIC) is working to draw the private sector to implement the investment-promotion strategy for the next three years, JIC chief Thabet Elwir said on Sunday. 

The strategy seeks to draw and promote local and foreign investment projects, according to the Jordan News Agency, Petra.

As part of its goals, the strategy also seeks to create a database for domestic and foreign investors in order to be able to reach and contact them, in cooperation with the Kingdom’s embassies abroad, and then acquaint them with the investment opportunities available in the country, Elwir told the news agency.  

USAID will float a tender that will determine the company which will be tasked with implementing it in the coming three years, he said.

The sum of JD3.3 million has been allocated for this purpose and future investment promotion plans are scheduled to focus on new markets of several countries, such as Ethiopia, Kenya, Djibouti and Japan.

During the first quarter of 2016, foreign direct investments channeled into the country rose by 3 per cent or by JD120 million, in comparison with the figure recorded during the first quarter of 2015, Petra indicated. 

Net foreign investment rose to JD345 million in this year’s first quarter from JD225 million in the first quarter of last year.