Prime minister, UAE investment minister discuss joint economic ventures

AMMAN — Prime Minister Bisher Khasawneh met on Wednesday with the UAE Minister of Investment Mohamed Hassan Suwaidi.

During the meeting, held in Amman, both sides affirmed their countries’ commitment to advance cooperation in the fields of investment and development, according to the Jordan News Agency, Petra.

The discussions also went over the progress of the investment projects outlined in the Memoranda of Understanding signed during the visit of His Majesty King Abdullah to the UAE last November, which is worth some $5.5 billion.

Khasawneh and Suwaidi stressed the potential of these projects to positively influence bilateral cooperation, stimulate the investment environment, create economic opportunities, and generate jobs.

They also expressed their commitment to exploring new avenues of cooperation, reflecting the deep-rooted bilateral relations between the two countries.

During His Majesty's visit to Abu Dhabi last November, Jordan and the UAE signed three memorandums of understanding including projects related to the operation of Aqaba's multipurpose cargo port, the development of a waste-to-energy plant, the establishment of a Port Community System, a cross-border railway project and the development of a wastewater treatment plant in Wadi Al Zarqa.

The second memorandum focused on investment cooperation between the two countries' respective ministries. 

The third memorandum, signed between the government and the Abu Dhabi Fund for Development, aims to finance development initiatives in the Kingdom with approximately $400 million, according to Petra. 

The initiatives supported by the fund include a $75 million contribution to the State Treasury, the establishment of a gas pipeline network for three development and industrial zones, and digital transformation efforts within the Ministry of Health. Investments will also be directed towards improving literacy and developing the baptism site.