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First International Jordanian Investment Conference to be held in October

Jordan: Tuesday, March 10 - 2009 @ 16:29

From this point of view and under the patronage of His Majesty King Abdullah II Ibn Al Hussein, Jordan Investment Board (JIB), is organizing “The First International Jordanian Investment Conference”, in cooperation with Jordan Chambers of Industry and Commerce and the Jordanian Businessmen Association, during 28 – 29, October 2009 in Jordan.

The conference would be an important economic event in the region in terms of size and diversity of participation of officials, experts and businessmen as well as the importance of the issues and topics to be discussed. The conference will discuss the investment climate in Jordan and the role of economic institutions in the public and private sectors in developing the investment environment, as well as investment opportunities in the Kingdom in light of the global financial and economic crisis and its repercussions on the future of real estate investments in the region. One of the points that will be highlighted is the ICT sector and its role in the development of the national economy in addition to a number of other topics on the development zones in Jordan.

Participating at the press conference held to announce the fore-coming conference were the Minister of Industry and Trade HE Amer Al Hadidi, HE the President of Jordan Chamber of Industry – Dr. Hatem Halawani, HE the President of Jordan Chamber of Commerce – Senator Haider Murad, HE the President of the Jordanian Businessmen Association – Mr. Hamdi Tabbaa, as well as CEO Jordan Investment Board, Dr. Maen Nsour.

Hadidi, emphasized that the stage facing the global economy today is a critical, cooperation and coordination between representatives of the economic sectors of the economy, business, and the interdependence between markets becomes vital and of particular important. Although the economies of Arab countries in general and the local economy, in particular, remain the least affected by the global crisis, the stage without any doubt encourages, and requires to accelerate the pace and procedures that would create an economic block able to cope with the foreseeable developments in the global, regional and local levels.

The Minister of Industry and Trade pointed out that the most effective solution to the local economy lies in attracting investment and in supporting ways to achieve this for many reasons. One is that stimulating the economy by supporting consumption is not without difficulty in light of high unemployment rates, and the fact that operating through borrowing has become unaffordable to many States due to the volume of overall debt to it. Within this context, the private sector bears a large part of economic responsibility, in accordance with its expertise and position in the production and its interaction with the government.

For his part, Mr. Ayman Hatahet, Vice President of Amman Chamber of Commerce, said that Jordan’s Chamber of Industry has always been keen to deepen its role in contributing effectively to the economic development and improve the economic position of Jordan, regionally and globally in addition to strengthening the competitiveness of Jordanian industry and highlighting those benefits and through partnerships with concerned local institutions by organizing economic conferences inside and outside Jordan.

He said the Chamber makes sure to participate in the local economic forums and international ones in order to highlight the success stories of the Jordanian industry, which forms the backbone of the national economy.

He added that the participation of experts and speakers in this economic event is evidence of the confidence in the Jordanian economic and investment situation and in laws and incentives provided. He pointed out that the meeting comes at a time when we all need to overcome the effects of the global crisis we are experiencing and to put solid and sound economic and financial foundations before moving to a new era of growth.

For his part, HE Senator Murad said that the private sector is the strong arm of the construction and development process in Jordan, where it achieved many accomplishments over the past decades in various sectors. He pointed out that, thanks to the support and guidance our wise leadership, private-sector institutions have witnessed a considerable progress in a country that does not have a lot of natural resources, but has the wise leadership and human educated and creative potentials, which formed the basis for the start of the Jordanian economy, and in turn led to high growth rates in recent years. He stressed that this climate is a fertile ground for attracting Arab and foreign investments alike.

Meanwhile, Tabbaa added that the Jordanian economy is diverse and multi-sector where the investor can work freely taking advantage of potential big and available investment opportunities in various economic sectors with high added value.

He emphasized that the conference is aimed at getting the business community acquainted with the developments in the Jordanian economy and the investment climate and promising investment opportunities available, and also to listen to the views and experiences of businessmen from around the world to enrich the process of development in Jordan.

Meanwhile, Dr. Nsour pointed out that Jordan has witnessed in recent years a distinct economic dynamic growth, which made Jordan a distinct point of investment in the region, because of the safe environment and the promising future it provides for those investments.

Dr. Nsour stressed that the convening of this conference in October Under Royal Patronage, will play an important role for the Kingdom, in providing appropriate alternative to Arab and foreign investors looking for secure and safe investment settings during the global financial crisis. He noted that the conference will witness the presentation of the numerous investment opportunities in various sectors that have been prepared with feasibility studies.

He added that the investment climate that Jordan enjoys, as well as what it serves for the promotion of all the available investment opportunities and the role of relevant institutions, which play a major role in providing an appropriate environment for such investment, in addition to attracting Arab and foreign investors have strengthened the role of Jordan as a strategic location for various investment in all sectors including industry, infrastructure, tourism, energy and real estate and others.

According to Dr Nsour, the advantages enjoyed by the Jordanian economy and the openness and transparency of economic freedom within a system of developed laws and legislation ensure that non-Jordanian investors are treated equally to their Jordanian counterparts and that non-Jordanian investors have the right of ownership of any project.

Participating at the conference will be all the relevant institutions from both the public and private sectors in addition to businessmen and investors from different Arab countries.

It is worth mentioning that the conference would open the door for new horizons of economic cooperation, where there will be the announcement of several Future projects and investment opportunities.

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Tuesday, March 10- 2009 @ 16:29 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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