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Jordan Post Company to be privatized

Jordan: Thursday, September 16 - 2004 @ 09:54

The move was announced by His Excellency Dr. Fawaz H. Zu’bi, Jordanian Minister of ICT, during the Jordan ICT Forum 2004.

The privatization of JPC follows the creation of JPC as a commercial company in March of 2002 and is inspired by the rapid development of mail and logistics industry and the progressive integration of ICT and postal services. The privatization follows the government decision to further open the postal sector to private investment and participation, as stated in the statement of government policy for the postal sector prepared by the Ministry of ICT and ratified by the cabinet

“We aim to create an investment opportunity on a major scale with this move, developing a dynamic company that will underpin national logistics and distribution services in a more effective and efficient way. By privatization, we intend to encourage investment in the sector to drive development of Jordan’s logistical capabilities moving forwards,” said Dr. Zu’bi.

On 30th December 2003, the council of Ministers approved the continuation of the process of the reform of the postal sector, and approved privatization of JPC through attracting a strategic partner. The council also formed a steering committee under the chairmanship of HE Dr. Mohammad Halayqa Deputy Prime Minister – Minister of Industry and Trade to oversee JPC’s privatization project.

12 International and local financial advisors responded to Executive Privatization Commission (EPC) invitation, in requesting financial advisors with privatisation, legal and technical to submit expressions of interest (EoI). The Financial advisor will help the government in attracting a strategic partner to JPC and completing the transaction.

“The strong interest shown at this stage emphasizes the positive and competitive climate in Jordan,” said MoICT Secretary General Nadia Saeed: “We believe that JPC will be in a position to support Jordan’s needs as it moves towards building its ICT capabilities. This step will further support the Kingdom in its e-commerce and e-government initiatives.”

The move is set to create investment in Jordan, not only in terms of a bid for acquisition of the company’s assets and business, but also in creating investment for the development of the sector and its services to world-class standards.

“The privatization programme has already seen successful moves of this kind in the telecommunications sector in Jordan, which shows the very rapid pace of transformation that can be achieved through privatization,’ said Al Saeed.

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Thursday, September 16- 2004 @ 9:54 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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