‘Complex procedures’ hinder investments in Jordan — JSF survey

AMMAN — The Jordan Strategy Forum (JSF) revealed in its Investor Confidence Survey that “complex investment procedures and ineffective resolutions” impede the scaling up of investment in the Kingdom.

The JSF stated that “46.5 per cent of investors have reported that deteriorating economic conditions and limited job opportunities have had the effect of having things headed in the wrong direction,” while 13.6 per cent of surveyed investors said that ineffective laws and regulations have had the biggest negative influence.

However, 37.8 per cent of investors experienced some positive change following a year of launching the Economic Modernisation Vision. 

According to the survey, 76 per cent of investors believe that the private sector plays a critical role in the implementation of the vision’s objectives.

Furthermore, investors are calling for incentives such as tax, customs and overall price reductions coupled with increase in salaries.

Speaking with The Jordan Times economist Waseem Hussein said that establishing efficient legislative frameworks which take into account investors’ interests is a positive step towards regulating and promoting foreign direct investment in Jordan or elsewhere.

“A primary means to accomplish better investment-related goals is to have a set of pathways through which investment can be promoted,” he said.

Mahmoud Salah, housing expert and investor, said that there is a need for deeper analysis of investment-related policies.

He pointed that the JSF has highlighted a crucial aspect which is the lack of competent and skilled labour, which shows that investing in workshops and training programmes for workers is necessary to bring in more investments.