AlMajale: Jordan is full of investment opportunities

The success story of the Jordanian expatriate business men and women Association

AlAnbat - Yara Badusi

Translated by Sara Shqair

The head of the Jordanian expatriate business men and women Association Fadi Majali affirmed that the Association fully believes that the media has a key role to play in the investment promotion process and that it is a first partner in stimulating investment and enhancing its attractiveness to investors, and attracting more of it.

He continued to Alanbat that investment promotion is a participatory, governmental, and popular national responsibility and that a non-profit platform with lofty objectives in working for the investment environment may be among the highest plans to seek investment for Jordan.

At the theoretical level, he added that the media must be informed about everything that is new and about investment in general and have a flow of information so that it can convey facts and convey a bright picture of the investment environment.

He said regardless of the nature of the work, whether political, economic, social, or investment, unless it found real information, which it highlighted, talked about, and highlighted its achievements, it kept the work in a dark circle and knowledge limited to different parties.

Addressing the challenges and obstacles that limit the Assembly's ability to achieve its goals to the fullest, he said: "The Assembly has no direct obstacles, but there are obstacles that impede the investment environment, hinder its development and progress, and become known to all”.

He said one of the most significant obstacles was the administrative obstacles to bureaucracy. Stressing that, to this day, the process of registering an investment company and direct investor for its business continues to be surrounded by a lot of bureaucracy and things that the investor refuses to stand up to him for example the multiplicity of references, Although the new investment law made the Ministry of Investment the only reference, these are not applied on the ground.

He added that one of the behaviors that hamper investors' movement is the negative impact of legislative and administrative instability in enterprises, such as the high operating cost that causes investors to look for other places where operating costs are low, especially because their decline inevitably means maximizing benefits and profits for the investor. "

Al-Majali asserted that Jordan is a country that is full of investment opportunities and that it has opportunities that no other State has, especially since it includes 12 governorates in 12 different investment sectors ", but it needs to be rigorously promoted, and efforts must be intensified to break down all obstacles to any investor who wants to invest in Jordan, especially given the investment competitiveness of all countries.

He said the association launched a website” Invest in Jordan "during the coronavirus pandemic in coordination with the Investment Authority at the time, with the aim of attracting capital from expatriate Jordanians, especially those expected to return to Jordan after the pandemic.

He added that the site registered 9 potential projects with a capital of 11 million JD on the ground, many unemployed citizens were actually employed, the most important is Australian investment in the information technology sector, which was hoped to occupy 350 jobs in India's tourism investment has set up a major tourism company operating at an annual rate of $2.7 billion.

The Association also organizes numerous meetings and workshops to coordinate and network Jordanian expatriate businessmen with expatriate businessmen and businessmen in Jordan. It has previously signed many memorandums of understanding with many associations, civil society organizations, official entities, the Ministry of Investment, the General Social Security Foundation, the Fund for Investment of Security Funds, Free and Development Zones, and many others.

The most important meeting was the Assembly's recent round table entitled "The role of the media in enhancing the attractiveness of investment and the settlement of migrant capital" Under the auspices of the speaker of Jordan's Senate Faisal al-Fayez and with attendance of the Speaker of Parliament, Information and Investment Ministers and several Jordanian expatriate media and businessmen. It aims to strengthen the role of the media as a key partner in the changing industry and to network Jordanian expatriate businessmen with their local counterparts to build partnerships that benefit the national economy, strengthen ties between the two parties and inform Jordanian expatriate businessmen of the investment opportunities available in Jordan.

It is worth mentioning that the Association of " Jordanian expatriate business men and women" aims at promoting investment opportunities in Jordan as well as networking between expatriate businessmen and their local business counterparts, and networking between businessmen in various countries of the world and local businesswomen among them. It is a solid bridge linking business and investment opportunities to Jordan and the outside world.