Jordan Times
Wednesday, June 2, 2004
JIB's investment window starts
offering services
AMMAN (Petra) — The investment window, launched by Jordan Investment Board
(JIB), began presenting its services on Tuesday in a bid to streamline
investment procedures.
JIB Chief Executive Officer Reem Badran said the investment window, announced by
His Majesty King Abdullah during the latest World Economic Forum held at the
Dead Sea, is in line with the King's relentless drive to promote the country's
economy.
The investment window, which aims at attracting more regional and international
investments, will undertake licensing of projects and obtaining approvals on
such projects from other authorities in accordance with legislation in force,
explained Badran.
The window provides services to projects that fall under the Investment
Promotion Law within the sectors of industry, agriculture, hotels, hospitals,
tourism promotion, conference centres and fairs, in addition to projects where a
non-Jordanian partner is contributing more than JD50,000, the JIB head
indicated.
Under the new service, JIB employees coordinate between investors and employees
working at the different concerned government licensing and registration bodies.
Coordination is established through ten designated employees representing the
Ministry of Industry and Trade, the Interior Ministry, the Ministry of Labour,
and those of the environment, municipalities, tourism and health in addition to
the Greater Amman Municipality and the Land and Survey Department.
Other employees would deputise for the original representatives in case of leave
or absence, explained Badran.
Since its establishment in 1995, the JIB has been dedicated to encouraging and
facilitating investment in Jordan.