The Jordanian Investment Minister, Kholoud Al-Saqqaf, has declared that Iraqi investments in Jordan have amassed to an impressive sum of approximately $32 billion.
She underscored the significant contribution of these investments to the nation’s economic development, with their influence extending across a plethora of economic sectors, including real estate, finance, industry, and tourism, among others.
Addressing a session on available investment environments, laws, and the provisions made for Iraqi and Jordanian investors on Tuesday, Al-Saqqaf spoke as part of the Jordanian-Iraqi Money and Business Forum. The event, hosted by the Iraqi Business Council in Amman, bore the slogan “Building Bridges of Shared Prosperity”. During her talk, Al-Saqqaf expressed Jordan’s aspiration for a further influx of Iraqi investments in the kingdom, indicating optimism for the expansion of existing ventures. This, she emphasized, is aimed at fostering fruitful partnerships that will be mutually beneficial for both nations.
In the course of her speech, Al-Saqqaf shed light on the new investment environment law, which ensures parity between domestic and foreign investors in terms of their rights and obligations.
Further, Al-Saqqaf asserted that the law, which was drafted in line with the best global practices, also provides additional benefits and incentives for projects that meet specific standards. These standards are associated with factors such as employment generation, women’s empowerment, integration of technology, and the delivery of high value-added services.
Concluding her address, Al-Saqqaf highlighted that investor transactions and their accompanying requests are now fulfilled within a span not exceeding 15 business days from the date of receipt. She explained that if an official entity fails to respond within this timeframe, it would be considered an implicit approval to proceed with the transaction.