Jordan Times
Monday, October 5, 1998
Tabbaa blames Israeli hardline policies for economic slowdown, cancellation of projects
AMMAN (J.T.) — Jordanian Businessmen Association (JBA) President Hamdi Tabbaa blamed the hardline Israeli policies for bringing the region to an economic slowdown and the cancellation of many joint projects which were relied upon by many people although such projects were more to the Israeli benefit than to any other Arab country.
Lecturing at the Regency Palace Hotel recently, Tabbaa mentioned the regional Middle East development Bank, the free zones, transport lines, railways and tourism cooperation among the projects that were cancelled.
“In addition,” he said, “the deadlock in the peace process has created instability in the region and discouraged many investors from investing.” This has exacerbated the unemployment problem which is one of the most important challenges facing Jordan today, Tabbaa added.
The JBA chief saw the unemployment issue becoming more complex as a result of low oil prices and the effect of that on the employment of Jordanians in Arab Gulf states. “This situation hightens competition for Jordanians seeking work in other markets and puts pressure to find new work outlets,” Tabbaa said. He saw a need for widening the local employment base to absorb part of the manpower that flow out of universities each year and to organise the Jordanian labour market according to national priorities without consideration to short-term interests.