Industry Leaders, Ministry Officials Discuss Investment Challenges

Amman: President of the Amman Chamber of Industry (ACI), Fathi Jaghbir, emphasized the urgent need to address the challenges hindering the progress of the national industry. He underscored the crucial role of economic laws and regulations, particularly those pertaining to incentives and facilitation for investors. Jaghbir highlighted that such measures are vital for attracting more investments to the Kingdom, thereby aiding in alleviating poverty and reducing unemployment rates. In a meeting held on Sunday with officials from the Ministry of Investment, Jaghbir urged for a thorough review of the procurement procedures for factories. This call for action stemmed from feedback received by the ACI from numerous industrial companies. Concerns were raised regarding the time-consuming nature of administrative tasks, such as stamping invoices and uploading them to the tax invoices platform. The discussion, attended by prominent industrialists, centered on addressing key issues encountered by industrialists in the ir interactions with the Ministry of Investment. Emphasis was placed on enhancing the grievance system for investors based on constructive feedback received from industrial investment companies. Representatives from the Ministry elucidated their commitment to fostering a competitive and appealing investment climate. They reiterated their dedication to streamlining procedures and providing necessary support to investors, emphasizing the significance of nurturing existing investments alongside attracting new ones. Regarding the grievance system, it was clarified that investors have the right to submit grievances against decisions or actions taken by government entities that impinge upon their rights and guarantees as outlined in relevant legislation and agreements. However, investors are precluded from filing grievances if they have already initiated legal proceedings or pursued alternative dispute resolution mechanisms. Source: Jordan News Agency