Investment a key pillar of EMV, says Lower House speaker

AMMAN — The investment portfolio within the Economic Modernisation Vision (EMV) is a cornerstone of Jordan’s national reform project introduced by His Majesty King Abdullah during the Kingdom’s second centenary, Lower House Speaker Ahmad Safadi said on Saturday.

During the opening of a conference titled “Investment within the framework of the Economic Modernisation Vision”, Safadi highlighted that economic modernisation is no less important than political and administrative modernisation.

“His Majesty introduced a new definition for national achievement, one that is tangible to the public,” he said.

Economic modernisation requires a concerted national effort, a well-defined strategic programme and a clear implementation roadmap in each sector, he added.

Safadi expressed appreciation for the UAE’s support to Jordan, emphasising that relations between the two countries constitute “a model for joint Arab relations”.

UAE’s Ambassador to Jordan Sheikh Khalifa Bin Mohammed Bin Khalid Al Nahyan highlighted the historical and deep-rooted ties between the two countries. The UAE is considered one of Jordan’s major trade partners, with an annual trade of $3 billion, in addition to investments and projects worth over $17 billion, the ambassador said.

Also speaking during the conference, Amman Mayor Yousef Shawarbeh said that the value of municipality-owned land stands at JD2.5 billion. Around JD1 billion of land is ready for investment, he added.

The municipality is simplyfing procedures for investors, notably through the introduction of several e-services in order to enhance the investment environment in the capital, he said.

The focus of the conference involves the role investment in stimulating growth, promoting innovation, facing global challenges, and developing the goods transport sector.

The conference also covered topics the legal, financial and economic aspects of attracting investments, and sustainability-focused economic projects.