Jordan, Hungary ink investment memo

AMMAN — Investment Minister Kholoud Saqqaf and Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto on Wednesday signed a memorandum of cooperation focused on increasing investment between the two countries.

Saqqaf said that signing the memo with Hungary is intended to establish an "adequate and effective" regulatory framework to promote bilateral investments and exchange relevant information about interested investors and investment initiatives, which would achieve the two sides' mutual economic goals, taking into account the relevant national legislation and laws in force.

She noted that the ministry is "fully" prepared to provide all kinds of support to Hungarian companies and overcome any obstacles to investing in the Kingdom, and encouraging new investments in the Jordanian market in the near future, the Jordan News Agency, Petra, reported.

Szijjarto stressed the importance of strengthening economic and trade cooperation mechanisms between the two countries to serve joint interests.

Szijjarto also called for holding bilateral meetings to bring together Jordanian and Hungarian private sector representatives in order to increase joint trade and investment exchange.

The memorandum aims at showcasing investment opportunities available in both countries, identifying "promising" sectors and holding meetings related to increasing investments. 

It also seeks to organise conferences and seminars between the two countries' businesspeople and companies, and considers establishing joint projects, Petra added.

The memo also intends to help overcome any obstacles that prevent investment growth, find relevant solutions to current challenges and exchange information regarding investment-driven policies and legislation, ultimately improving the investment environment.