The Ministry of Investment announced today, Saturday, that the volume of investment projects benefiting from the Investment Act in Jordan increased by 107.4% during the first quarter of 2022, with a total investment volume of 193.5 million Jordanian dinars, compared to with the same period in 2021, in which the volume of investment totaled 93.3 million Jordanian dinars.
The number of projects benefiting from the Investment Act during the first quarter of 2022 totaled 93 investment projects, with an expected size of employment, as recorded by investors, about five thousand jobs.
The ministry said in a statement that “the volume of foreign investment increased by 826.7% during the first quarter of 2022 compared to the first quarter of 2021, and the volume of investment reached 97.3 million Jordanian dinars, while the growth rate in the volume of local investment reached 16.2%, with an investment volume of 96.2 million, million Jordanian dinars.
With regard to the key results achieved from October 2021 to March 2022, it was emphasized that local and foreign investment (new and expansion) was attracted to approximately 456 million Jordanian dinars, as the number of investment projects benefiting from the Investment Act reaches 161 has. investment projects, with an expected size of employment also Registered by investors nearly 8000 thousand jobs.
In the statement, he states that 91.6% of the total volume of investments was outside the development areas, with an investment volume of 418 million dinars, while the volume of investment within the development areas was 8.9%, with an investment volume of 38 million Jordanian dinars.
Regarding the distribution of investments benefiting from the Investment Act between the various sectors during the first quarter of 2022, it was confirmed that the industry received the largest share and the investment rate in it reached about 73 percent of the total registered investments, with an investment volume of 141.8 million Jordanian dinars, and in the tourism sector 18 million JD, hospitals and medical centers 16.5 million, agriculture 14 million, information technology 1.6 million, technical production 1.1 million, services half a million Jordanian dinars.
Regarding the role of the investment window in the Ministry of Investment, it was emphasized that the investment window is one of the most important means of enabling local and foreign investment by working around the registration and licensing procedures and procedures for investment projects in Investors has submitted their investment projects to only three days to obtain all licenses and approvals, and is now working through collaboration with all bodies represented in the public sector to shorten this period on investor transactions to shorten time and effort and create a attractive and stimulating investment environment for investment projects.
With regard to the Ministry of Investment’s efforts to create an attractive and competitive business environment, it has been noted that the Ministry is working on many projects involved in attracting local, Arab and foreign investments and enabling existing investments, of which the most important is the Investment Promotion Strategy. Project for the years (2023-2026), prepared by the Ministry of Investment Investment in collaboration with the World Bank Group.The strategy aims to attract foreign and local value-added investments, work to provide and provide more jobs contributes to the increase of national exports and the increase of economic growth rates.
It has been made clear that the strategy is a roadmap for the promotion of investment opportunities available in the Kingdom in high value-added sectors, the most important of which are manufacturing, information and communication technologies, healthcare, tourism, real estate development and mining. This includes identifying the main and subsidiary economic sectors in the Kingdom with priority, in addition to the targeted foreign markets and the main potential investors in these countries by following the method of direct targeting of potential investors.
Among the efforts undertaken by the Ministry of Investment is also to work on the completion of a smart investment map Smart City Map, which is an interactive investment map that provides investment opportunities in the different locations of the Kingdom and provides information to investors concerning the comparative and competitive advantages of all governorships of the Kingdom.
Various promotional forums have also been held in partnership with the public and private sectors, in addition to participating in numerous local and international events, with the aim of attracting the attention of investors and attracting their investments to the Kingdom.
The Ministry of Investment has made it clear that it is involved in the follow-up of investment projects in all their stages by a unit that specializes in the follow-up of investor affairs. may arise, to address. state agency by a committee in the Ministry of Investment formed under the investor grievance system, which plays its role By following up the grievance and verifying its contents, since the establishment of the committee, 36 grievance requests have been received from investors. most of which have been processed, which constitute real grievances.
The statement concluded that the Ministry of Investment seeks to increase the volumes of investments benefiting from the Investment Act during the current year by its plans to promote investment projects in priority and high value-added sectors, simplify procedures and investor to help make an investment decision within Jordan by providing them with information related to the investment environment and opportunities, and the investment sectors and the benefits and advantages arising from their investments in the Kingdom, in addition to reaching potential investors.
It is noteworthy that the Ministry of Investment was established in October 2021 to be concerned with all investment matters, to deal with local, Arab and foreign investor issues, and to draw up policies that encourage investment and the competitiveness of the major economic sectors in Jordan improved, in addition to promoting investment in Jordan, and opening markets Externally to the local Jordanian product.