PM explains ministry not needed with restructured investment commission, new president

AMMAN — Prime Minister Omar Razzaz on Sunday justified the decision to cancel the investment ministry as there has never been a minister for investment.

During a meeting with the Lower House’s Investment Committee, Razzaz said that there has always been an investment commission with a council and president who partakes in all relevant panels, the Jordan News Agency, Petra, reported.

The premier stressed that Jordan needs an investment council president who can focus all efforts on developing the investment commission.

Work should focus on attracting local and foreign investors through publishing information about Jordan, participating in investment conferences and promoting and marketing the Kingdom, he added

The objectives of the investment commission are different, Razzaz underlined.

According to the prime minister, the government is about to restructure the commission and appoint a new president with deep understanding of the task at hand, the investment environment and the private sector.

The candidate should be able to develop the institution and affect a qualitative leap in its performance, he underlined.

The Kingdom does not need foreign investments carrying a 100 per cent foreign workforce, he highlighted.

Such plans do not benefit the Jordanian economy, Razzaz said.

Meanwhile, the government may require the expertise of one or two foreign experts, for training purposes, which, he said, is acceptable for a certain period of time.

Jordan has accomplished a lot in the financial reforms frontier in the past few years, by testimony of donors, the premier said.

Consequently, the government decided not to impose new taxes in 2019 and 2020, Razzaz reiterated.