Investment Ministry achieves 82% of 2023 Economic Modernisation Vision goals

AMMAN — Investment Minister Kholoud Saqqaf on Tuesday said that the ministry completed all priority tasks outlined in the Economic Modernisation Vision's executive programme regarding the investment sector for 2023, while the overall accomplishment rate stood at 82 per cent for the economic vision.

Speaking at a youth dialogue conference organised by the Senate in the Dead Sea area, Saqqaf highlighted the legislative reforms achieved by the ministry, including the issuance of the Investment Environment Law, approval of the general investment policy, and the issuance of the Public-Private Partnership Law, the Jordan News Agency, Petra, reported. 

She noted that the ministry has finished the executive plan for the investment promotion strategy and launched the invest.jo platform, featuring 36 investment opportunities with a total value of JD1.4 billion, alongside the completion of profiles for 17 investment sectors and the full automation of comprehensive investment e-services.

Saqqaf highlighted the ministry's priorities within the Economic Modernisation Vision for 2024, including boosting public-private sector cooperation, expanding the investment map to generate new investment prospects, and implementing investment promotion strategies to attract more investments while empowering existing ones.

She said that the Economic Modernisation Vision is a 10-year roadmap that aims to unlock Jordan's economic potential, achieve an annual economic growth rate of 5.6 per cent and create 1 million new job opportunities.

Saqqaf referred to positive indicators in the national economy in 2023, including a 2.7 per cent GDP growth in the first three quarters, attracting foreign direct investments worth JD673 million by September 2023, and reducing the trade balance deficit by 10 per cent to JD9.3 billion in 2023.

Despite challenges, Jordan's credit rating remained stable, reflecting the economy's resilience and successful completion of seven reviews of the extended financing programme with the International Monetary Fund, she added.