Amman, January 5 (Petra) -Minister of Investment, Muthanna Gharaibeh said the ministry’s strategy aims to promote investment through a differential advantage, attract foreign flow, motivate investors by applying the best international practices.
Gharaibeh’s remarks came in a session with the Senate’s Finance and Economic Committee, headed by Dr. Rajai Ma’asher, to discuss strategy of the Ministries of Investment and Water.
The strategy, Gharaibeh noted, also aims to improve the investor’s various transactions, which extend over the project stages, especially registration and acquisition of the necessary licenses to begin economic activity.
The minister added that this vision would help maintain and expand invesment operations to enhance Jordan’s economic growth and provide job opportunities for young people.
Gharaibeh stated that the strategy also seeks to enhance the partnership between the Kingdom’s public and private sectors and encourage local investment, noting that the Amman-Zarqa Bus Rapid Transit (BRT) project is the first step of this collaboration.
Gharaibeh stressed the ministry’s role in promoting investment by preparing feasibility studies that stimulate this scheme in priority sectors, in accordance with the Economic Modernization Vision (EMV).
Meanwhile, Minister of Water and Irrigation, Raed Abu Saud, said the ministry’s strategy was developed to achieve Jordan’s water security, which features a “long-term” plan to confront water scarcity, continued climate change and increasing population.
The strategy seeks to “optimally” manage current water resources and improve sustainable supply from non-traditional sources, primarily Jordan’s National Water Carrier Project and achieve its goal at the “lowest possible cost.”
Abu Saud noted the strategy also eyes to reduce water loss and protect surface and groundwater sources by “strictly” enforcing laws and regulations to preserve and sustain those assets.
Ma’asher said the committee aims to review the two ministries’ strategy and their projects and extent of their EMV compatibility.
//Petra// AG
05/01/2025 16:19:26
