Jordan’s King Abdullah II addressed an audience of over 300 regional business stakeholders at the recently held Jordan Invest Conference at Dubai’s Burj Al-Arab Hotel, and reaffirmed the Kingdom’s commitment to a liberalized, free trade environment that is designed to encourage investor partnerships.
The Conference examined key national infrastructure projects in Jordan and pointed to a number of sectoral opportunities that have been brought by new initiatives and legal moves that open Jordan’s market to Foreign Direct Investment (FDI).
The successful investments by foreign organizations in Jordan point the way for others according to the panel of experts assembled to address the conference. Delegates at the conference heard that foreign investment in Jordan is already a major economic growth area.
From companies working to extract potash through to key investments by major organizations, including Saudi Arabia’s Kingdom Holdings, in hotels and tourism, Jordan’s leadership has pursued a consistent policy of open markets, competitive environments and free trade.
High profile investments in Jordan’s ICT sector include the acquisition of a 40 percent stake in Jordan Telecom by France Telecom, investments in Jordanian technology companies by overseas organizations including Bahrain’s Batelco and Microsoft of the US and acquisitions including the recent buy-out of Orascom’s stake in Jordanian GSM company Fastlink by Kuwait’s MTC.
With WTO membership, free zones, free trade agreements with 16 other Arab countries as well as the US, legislative support for trade and a vibrant labor pool, Jordan has become a market access point for investors and a unique trading location for global access. In addition, Jordan offers privileged access to European markets thanks to its European Partnership Agreement, which offers free trade access to the European Community. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
