His Majesty King Abdullah visited the Jordan Investment Commission (JIC) on Tuesday and checked on the measures it has taken recently to remove obstacles facing investors and improve the business environment in the Kingdom.

At a meeting attended by Prime Minister Hani Mulki, King Abdullah expressed appreciation for the JIC’s efforts, noting that Tuesday’s visit was aimed at getting a first-hand look at the commission’s work, as the gateway for investors.

His Majesty also stressed the need for the JIC to be equipped with the necessary capacities and cadres to provide optimal services to investors.

The King urged all institutions to commit to cooperating with the JIC to fulfil its role, including what has been outlined in the Jordan Economic Growth Plan 2018-2022.

His Majesty called for a clear strategic vision that identifies the benefits offered by the Kingdom in trade, industry, investment, and business to the countries of the region and the world.

During the meeting, the King was briefed by Minister of State for Investment Affairs and JIC Chairman Muhannad Shehadeh on the commission’s action plan and the measures it has taken over the past two months to ease and promote investment.

The measures, Shehadeh said, include the launch of the Fast Track Investment Window to serve projects. A total of 32 projects have obtained the required permits and licences through this track, with investments worth around JD196 million, covering tourism, industry, and agriculture.

These projects are expected to generate 1,500 job opportunities. Moreover, 27 multinational investment projects in various sectors have also been registered and launched.

Shehadeh noted that the JIC has prepared a new investment map for the Kingdom, outlining 240 opportunities and small, medium, and mega investment projects encompassing several sectors. 

Initial feasibility studies for 120 investment projects have been conducted, and they will be launched on 10 September, in cooperation with the Ministry of Planning and International Cooperation.

Also as part of the measures, the JIC, in cooperation with the Ministry of Interior, has adopted a single security check for investors that will be enough for any service or procedure for their investments in the Kingdom, without having to refer to the JIC’s Exemptions Department, provided that it is only used for the investment project in question.

The JIC has also streamlined procedures to register and license investment projects, which previously had to go through 23 committees at the commission. They now go through 13 committees. The time needed to register a project in development zones has also been reduced from five days to one day.

In addition, investment cards are now issued or renewed within two days, instead of five; while it takes one week, instead of two, to award exemptions to investors in accordance with the Investment Law.Exemptions approved through Cabinet decisions are awarded within one day instead of seven days.

Through the fast track, the 15 procedures previously requiredto provide each service to investors have been reduced to five.

Other measures, in accordance with the Cabinet’s recent decision, include lifting security restrictions on Kenyan nationality holders, and easing the entry of Indian businesspeople.

During the visit, His Majesty toured the JIC’s main departments, including the Fast Track Investment Window, the Investor Relations Department, and the Exemptions Department, checking on workflow and the measures taken to ease procedures for investors.

Royal Hashemite Court Chief Fayez Tarawneh, Director of the Office of His Majesty Jafar Hassan, and JIC Secretary General Fareedon Hartoqa attended the meeting.