IRZ organises the kick-off workshop “Investment Climate” in Amman

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Published: July 11, 2023

IRZ launched its cooperation with the Jordanian Ministry of Investment with an initial exchange of experiences on issues relating to the investment climate and the improvement of the legal framework on 10 May 2023 in Amman. The background to the cooperation is the Jordanian government’s aim to position the country as a stronger economy by 2030 and thus make it more attractive for foreign investors.

The Jordanian government has already taken the first steps to achieve this aim, as pointed out by Mr. Zaher Al-Qatarneh, Secretary General of the Jordanian Ministry of Investment in his opening speech. The measures include the formation of the Jordanian Ministry of Investment, which now bundles all the services relating to investments, and the new law regulating the legal framework for investments in Jordan, which came into force on 14 January 2023. Among others, this should create incentives and legal security for foreign investors and attract investments totalling 41 million Jordanian dinars into the country.

The IRZ expert, Dr. Christian Steiner, lawyer and managing partner of Ule & Steiner SLP gave an insight into the experiences in the Middle East and North Africa from a legal perspective. Many countries in the region have set themselves the goal of becoming more attractive to foreign investors. It is therefore essential to analyse how other countries position themselves and what incentives - such as attractive legal framework conditions, tax breaks, financial aid, exemptions from duty and free movement of services - are offered to foreign investors. However, Dr. Steiner emphasised that location factors also play a major role in investments. The national infrastructure, the stability of the political situation and security in general and legal certainty in particular are relevant aspects for investors.

Ms. Mays Khleifat, Head of the Directorate for Legal Affairs, rounded off the kick-off event with a presentation on various forms of capital investment in Jordan. She emphasised that while Jordan aims to attract more foreign investors, it also wants to encourage domestic investment. The Ministry of Investment would like to create targeted incentives for foreign investors to cooperate with domestic partners on certain projects. The new framework conditions protect the ownership rights of the Jordanian partner to counter any potential imbalance.

IRZ would like to thank Mays Khleifat, Dr. Christian Steiner and the participants for the committed and goal-oriented exchange and is looking forward to further cooperation with the Jordanian Ministry of Investment.