‘Factory shutdowns have nothing to do with bureaucracy, procedures’

AMMAN — The recent factory shutdowns are due to violations of regulations and laws, including tax avoidance graft, and have nothing to do with bureaucracy or procedures, Prime Minister Omar aRazzaz said on Wednesday.

The premier's remarks came during a meeting with the Lower House’s Economy and Investment Committee on the investment environment, where he reiterated the need to reconsider laws and procedures to attract investments, the Jordan News Agency, Petra, reported.

He noted that the recent closure of a number of factories is related to tax evasion, customs fraud and manipulation of specifications or cheating, according to Petra.

Weekly governmental meetings are held with representatives of the economic and industrial sectors to resolve issues related to their sectors, Razzaz said, adding that the government will endorse the “building code” to eliminate obstacles hindering the housing sector.

Razzaz also briefed the attendees on the government’s procedures towards creating a suitable investment environment to boost economic growth and create job opportunities, including  regional talks with Turkey, Iraq and Arab Gulf states, in addition to the upcoming London Initiative scheduled on February 28.

Minister of State for Investment Affairs Muhannad Shehadeh said that 90 per cent of the applications submitted for exemptions were approved in accordance to the standing mechanisms.

Shehadeh said that 429 shutdowns were registered in 2018, a 2 per cent increase compared with 2017.

Head of the parliamentary committee Khair Abu Saileik said that the national economy has achieved growth despite the difficult circumstances, but more governmental effort is needed to develop the investment environment.

It is necessary as well to activate the Jordan Investment Commission and revisit regulations, he noted.