Jordan Times
Friday, November 25, 2005
King values initiative to set up association of Arab investors
Dubai-based Real Estate TV Channel offers a
twelve-month free promotion plan to highlight investment opportunities available
in Jordan
AMMAN (Petra) — His Majesty King Abdullah applauded on Thursday an initiative to
establish an alliance of Arab investors in Jordan.
The initiative, proposed by Bonyan International Investment Group Chairman
Abdullah Atattra, envisages an association operating as a link between actual
and potential investors and encouraging them to invest in the Kingdom.
“Jordan keeps its doors open for investors and supports them,” the King told a
delegation of Arab investors at a meeting, stressing that investors' operations
and procedures will be handled with complete transparency.
Referring to the terrorist attacks in Amman earlier this month, the investors
voiced determination to go ahead with their projects in the Kingdom, which they
described as an investment haven.
They highlighted the security and political stability in the country as well as
economic freedom and legislation conducive to investment.
Mohammed Saleh, chairman of the Dubai-based Real Estate TV Channel and also vice
chairman of Bonyan, announced that the channel will offer Jordan a twelve-month
free promotion plan to highlight investment opportunities available in the
Kingdom.
According to Saleh, the promotion plan reflects the channel's confidence in the
country's stability.
Kuwaiti Kharafi Group Vice Chairman Marzouq Nasser Kharafi boasted being one of
the first companies that invested in the Kingdom.
Kharafi Group started its Jordan operations in foodstuff and at a later stage,
in the field of telecommunications. After that, it established the Jordanian
Kuwaiti Holding Company which currently has plans for investment projects
capitalised at over $2 billion.
Noting that the Ministry of Labour is keen on training and qualifying Jordanians
to work at investment projects, Labour Minister Bassem Salem asked the investors
to provide the ministry with lists of their needs to cater for them.
Qatari investor Mohammad Kuwari thanked the staff of the Economic and
Development Department (EDD) at the Royal Court for their efforts to facilitate
investors' operations, and encouraged other investors to launch ventures in the
Kingdom.
Faisal Ali Al Mutaweh from Kuwait praised the country's security and stability.
JD Capital Chief Executive Officer Samir Rifai highlighted the importance of the
meeting describing it as an additional proof of the Kingdom's special interest
in investors, noting the advantages and the incentives provided to them.
Riyadh Investment Group Chairman Hatem Khawam thanked the King for the
facilities provided to the Iraqis, and condemned terrorism at the same time.
Highlighting the importance of small- and medium- scale projects which represent
98 per cent of the Kingdom's projects, Industry and Trade Minister Sharif Zu'bi
stressed the government's support for these ventures, which represent a vehicle
to provide employment opportunities and propel the economic drive.
Businessman Ra'aouf Abu Zaki spoke of the 2nd Economic Forum to be held in Amman
next week noting that it will bring together some 800 businessmen from 20 Arab
countries to promote Jordan's investment environment.
EDD Director Mohammad Rawashdeh briefed the investors on mega investment
opportunities available in the Kingdom, such as the privatisation schemes, the
Aqaba Port Conveyance Project besides the expansion of the Queen Alia
International Airport and the Jordan Petroleum Refinery Company.
Rawashdeh stressed the EDD's determination to remove all difficulties that may
face investors at the beginning of their business operations in the Kingdom.
Emphasising the Kingdom's sound economic conditions, Rawashdeh highlighted
positive economic indicators citing the increase in the Kingdom's exports
volume, the bourse market value and the foreign reserves at the Central Bank of
Jordan.
He also referred to the 7.6 per cent real growth in the gross domestic product
achieved in the first half of this year.