Jordan’s Minister of Industry, Trade and Supply Yousef Shamali revealed a Saudi-Jordanian action plan to enhance economic, industrial and agricultural cooperation between the two countries.
Shamali stressed that geopolitical variables, due to the Russian-Ukrainian crisis and its effects on various supplies, necessitate deepening cooperation and coordination between Riyadh and Amman to face potential repercussions.
The minister revealed that Saudi Minister of Commerce Majid Bin Adbullah Al Qasabi will be visiting Jordan next May to discuss all the challenges facing joint investments and trade exchanges between the Kingdoms.
Shamali announced that a joint committee to handle bilateral cooperation and a committee to solve the problems facing investors in the two countries will be established soon.
Shamali revealed that Jordan has completed preparing legislation for regulating economic activity, improving the investment attractiveness of the Kingdom, addressing the obstacles facing investors, unifying the references concerned with investment and granting incentives to investment projects.
The Jordanian government is keen on ensuring the integration of the Jordanian economy into the global market, through trade liberalization and benefiting from investment opportunities around the world, said Shamali.
The minister’s remarks came during his speech at the Saudi-Jordanian Forum held on Monday.
Shamali noted that Jordanian industries have started to compete with the industries of developed countries thanks to the government plans and policies of Jordan that focused on developing the industrial sector, enhancing its competitiveness through providing a competitive investment environment and supporting the pillars of the national economy.
He noted that regulations organizing the economic activity have been provided to effect a qualitative leap aiming to improve the investment attractiveness of Jordan, address any obstacles that might face investors, unify references concerned with investment, and offer incentives for investment projects.
Chairman of the Jordan Chamber of Industry Eng. Fathi Al-Jaghbir noted that Saudi Arabia has, over the past decades, been the biggest supporter for the Jordanian economy and the closer to Jordan under various political and economic circumstances, where this support developed from traditional framework to direct finance.
