World Economic Forum to meet in Jordan; King Abdullah urges investors

Published May 11th, 2015 - 09:00 GMT

His Majesty King Abdullah on Sunday asserted the vital role that investments play in boosting the economy and helping to achieve comprehensive development. 

During a meeting at Al Husseiniya Palace with representatives of several investment sectors, he stressed the importance of benefiting from the advantages that the Kingdom enjoys “as an oasis of stability” and to build on them.   

The meeting was attended by top executives from companies working in transport, industry, tourism, energy, real-estate and insurance, according to a Royal Court statement.  

The King highlighted the need to extend the necessary support for investment sectors and empower them to carry out projects in the various governorates and provide jobs for Jordanians. 

He noted that the government should work to remove obstacles facing investment projects, in a manner that serves the interests of the public and the private sectors. 

The accomplishments of the private sector in setting up projects prove that Jordan is capable of embracing successful investments, the King said, adding that the country stands out as a regional industrial hub and a gateway to regional markets. 

At the meeting that was also attended by Royal Court Chief Fayez Tarawneh and King’s Office Director Jafar Hassan, the Monarch underscored the significance of the World Economic Forum which will convene in Jordan this month, noting that it represents an opportunity that everybody should capitalise on.  

Investors expressed their appreciation of the King’s gesture and the opportunity they were given to communicate to His Majesty the challenges they struggle with and suggest measures the government can take to help them overcome these difficulties, the statement said. 

High tax rates and unstable business-related legislation top the challenges facing the sector, they pointed out. 

Speaking to the Jordan News Agency, Petra, Airport International Group CEO Kjeld Binger said the meeting helped shed light on challenges facing investors, including the transport sector.  

Political and security issues in the region have adversely impacted the aviation industry, posing a challenge that should be overcome through providing more services and rendering Queen Alia International Airport more attractive to passengers, he said. 

According to Ghassan Nuqul, vice chairman of the Nuqul Group, the meeting with the King was very important, noting that challenges are always there, but what calls for optimism is that there are initiatives that the government will carry out to overcome them

He said the King underlined mega-projects that will be launched at the WEF meeting.

“This gives investors confidence that things are going in the right direction,” he told Petra.  


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