JIC, Singapore Business Council hold virtual talks on boosting investment cooperation

AMMAN — The Jordan Investment Commission (JIC) on Sunday held a virtual meeting with the Singapore Business Council over enhancing the Jordanian-Singaporean economic and investment cooperation, according to a JIC statement.

The meeting focused on promoting the Kingdom’s investment opportunities available for Singaporean companies wishing to join the Jordanian market.

Chairman of the JIC Khaled Wazani highlighted the commission’s efforts towards furthering investment cooperation between the two countries.

Wazani expressed the Kingdom’s keenness to learn from Singapore’s “successful” experiences related to offering incentives, facilities and exemptions for economic projects, in addition to providing any exceptions to investors to ease procedures for businesses and stimulate investments. 

The JIC has started with working on re-engineering several procedures related to investment operations, simplifying procedures to enhance the business environment, read the statement.

The JIC has also started with implementing the largest e-services project under the umbrella of the JIC, a move to create a competitive and attractive investment environment for investors, he added.

Wazani pointed out that the JIC has developed a list of “the most important investment opportunities in the Kingdom’s targeted sectors”.

The Kingdom’s Ambassador to Singapore Mahmoud Hmoud highlighted the importance of the meeting in increasing trade exchange between the two countries and optimising digital transformation in this arena, according to the statement.

The Singaporean Ambassador to Jordan and Chairman of the Singapore Business Council for the Middle East Shamsher Zaman emphasised the necessity of further communication between businesspeople and the private sectors of the two countries, which can be maintained through holding meetings, seminars and exchanging visits.

Chairman of Singapore Economic Development Board Beh Swan reviewed mechanisms of encouraging and attracting investments to Singapore, referring to incentives and facilities offered for businesspeople.

Swan also underscored means of reducing production costs to increase the competitiveness of national products.