Jordan Times
Wednesday, March 9, 2005
New investment plan to be ready in August
AMMAN (Petra) — A new investment strategy, slated
for completion by August of this year, holds in sight the objectives of
increasing the gross domestic product (GDP) to JD30 billion by the year 2020 and
doubling the per capita income to JD3,600.
At present, the GDP amounts to JD7 billion and the per capita income stands at
JD1,800.
The strategy is threefold, according to an official source.
Under the first step, officials concerned with investment will first review and
evaluate investment policies in Jordan to arrive at facts regarding their
effects on activating domestic economic sectors.
Secondly, officials will assess Jordan's position vis-?-vis world trade and
decide how the Kingdom can benefit from trade agreements it has entered with
world parties.
The third component of the strategy has to do with investment promotion.
The official indicated that Jordan should come up with a unified message to
market itself as an investment-friendly country.
In commenting on the difference between the plan being formulated and previous
strategies, the official pointed out that the new blueprint “is based on wider
visions and focuses on developing economic activities at the local and external
levels.”
Furthermore, the strategy seeks to upgrade the investment environment through
amendments to government policies and procedures.
Training and scientific research are also basic elements in the equation, he
indicated.
He noted that the private sector is a “key partner in drafting and implementing
the strategy,” stressing that the private sector has undertaken to put forward
“Jordan's Economic Projects Strategy,” described by the official as a “national
document,” to be part of the overall investment strategy.