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Abu Ghazzaleh: No government project to be offered for investment without at least 30% local participation

Abu Ghazzaleh: No government project to be offered for investment without at least 30% local participation

Minister of Investment, Tareq Abu Ghazzaleh, confirmed on Wednesday that the government has established a policy to encourage local investment alliances in projects, based on not offering any government project for investment without at least 30% local participation, due to its importance for the growth of the Jordanian economy.

During Prime Minister Jafar Hassan's visit to the Ministry of Investment, the Investment Council discussed the reality of investment opportunities and projects, incentives provided for investment, and preparations for hosting the Jordan-Europe Investment Conference and the opportunities it offers in various sectors, as well as the modernization of legislation regulating the investment environment.

Abu Ghazzaleh presented the projects currently being worked on within the Economic Modernization Vision, ways to enhance services provided to investors, and the digital transformation of businesses.

He pointed to the legislation that has been updated as part of the government's efforts to develop the investment environment, most notably the amendment of the Investment Environment Regulation Bylaw issued recently, which aims to enhance the stability of economic policies, consolidate confidence in the business environment, raise the efficiency of the investment service system, accelerate procedures, reduce timeframes associated with issuing licenses and approvals, support the digital economy and creative industries, among other advantages.

He also indicated that the ministry continues to work on preparing the Investment Funds Draft Law for the year 2026, with the aim of creating a unified and integrated legislative framework that regulates various types of investment funds, enhances the attractiveness of the investment environment, attracts regional and international funds, supports the capital market and asset management, and provides modern financing and investment tools, noting that studies, legislative analysis, legislative options, and comparative studies have been completed.

The meeting was attended by Deputy Prime Minister and Minister of State for Economic Affairs Mohannad Shehadeh, the Ministers of Planning and International Cooperation, Finance, Digital Economy and Entrepreneurship, the Governor of the Central Bank, and private sector representatives on the Investment Council.

During the visit, Hassan said that Jordan faces promising opportunities that outweigh the challenges we are accustomed to, and that we will face and overcome them under our wise Hashemite leadership.

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