'20 new sectors planned for foreign investment'

AMMAN — Minister of Planning and International Cooperation Mary Kawar on Monday outlined a number of growth-oriented achievements and plans during a panel discussion to review February’s London conference.

During the panel discussion, Kawar highlighted several reforms implemented by the government, including the development of an electronic register and laws and regulations pertaining to inspections.

The panel also highlighted the development of the Financial Insolvency Law and the Venture Capital Law, which relate to company operations and the nature of investments, according to Kawar.

The minister said that the government has developed regulations that guarantee input from the private sector before drafting any piece of legislation and the compulsory provision of childcare services at all institutions, as well as stipulated the removal of gender references in labour legislation, according to a statement released by the Planning Ministry.

She said that the government is currently working on the second package of the reforms which are expected to be completed by the end of this year or the beginning of next year.

Kawar also stressed that an amendment to regulations governing non-Jordanian investments is in its final stages, and is expected to open 20 new sectors to foreign investors.

The planning minister said a partnership law between the public and the private sectors will be completed in October, in addition to the establishment of a fund to support financial and technical feasibility studies.

Kawar added that the government has embarked on a number of reforms outside the five-year reform plan related to Jordan’s business environment.

In order to improve the business and investment environment, Jordan has adopted a number of policies aimed at attracting investment as well as building on its political and security stability, according to the statement.

The minister also highlighted the automation of procedures and services for both companies and citizens.

The building code was also recently amended to reduce the number of days required to receive a building permit, extend work permit periods and reduce initial approval fees.

During the London conference in February, the government launched debt refinancing strategy and a new system to support projects between the public and private sectors in adherence to international standards, according to the statement.