Minister Highlights Economic Progress at Youth Dialogue Conference

Minister of Investment Kholoud Saqqaf said the completion of all priority tasks outlined in the Economic Modernization Vision's executive program regarding the investment sector for the previous year, achieving an overall accomplishment rate of 82 percent for the economic vision. Speaking at a youth dialogue conference organized by the Senate in the Dead Sea region on Tuesday, Saqqaf highlighted the legislative reforms achieved by the ministry, including the enactment of the Investment Environment Law along with its related regulations and guidelines, approval of the general investment policy, and issuance of the Public-Private Partnership Law. She mentioned the finalization of the executive plan for the investment promotion strategy and the launch of the invest.jo platform, featuring 36 investment opportunities valued at JD1.4 billion, alongside the completion of profiles for 17 investment sectors and the full automation of comprehensive electronic investment services. Saqqaf outlined the ministry's prior ities within the Economic Modernization Vision for the current year, emphasizing the enhancement of public-private sector collaboration, the expansion of the investment map to generate fresh investment prospects, the implementation of investment promotion strategies to attract more investments while empowering existing ones, and the completion of automation processes to streamline investor services and develop aftercare services. Additionally, new initiatives include drafting a national investment roadmap. She underscored the Economic Modernization Vision as a ten-year roadmap aiming to unlock Jordan's economic potential, targeting an annual economic growth rate of 5.6 percent and the creation of one million new job opportunities. Saqqaf noted positive indicators in the national economy over the past year, including a 2.7 percent GDP growth in the first three quarters, attracting foreign direct investments worth JD673 million by September 2023, and a 10 percent reduction in the trade balance deficit to JD9. 3 billion in 2023. Despite challenges, Jordan's credit rating remained stable, reflecting the economy's resilience and successful completion of seven reviews of the extended financing program with the International Monetary Fund, she added. Source: Jordan News Agency