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.
