Session Advocates Improving Arab Investment Climate, Supporting SMEs

Dead Sea: A specialized session highlighted investment prospects across the region, particularly in Jordan and the Kurdistan region of Iraq. Participants urged Arab governments to formulate strategic policies and sustain economic reforms to bolster investment environments and become prime destinations for diverse investments. During the "Economic Forum for Financial, Industrial, and Commercial Partnerships between Iraq, Jordan, and the Region," the importance of supporting small and medium enterprises (SMEs) was underscored due to their significant role in job creation and sustainable development within the region. Highlighting the Integrated Industrial Partnership Initiative as a model for sustainable economic growth, representatives stressed the need for similar collaborative ventures to promote investments across various sectors, including food, agriculture, pharmaceuticals, minerals, chemicals, and electric vehicles. The session featured insights from key figures such as Tariq Hijazi, Assistant Secret ary-General of the Federation of Arab Businessmen, Kilan Saeed Aziz, Chairman of the Erbil Chamber of Commerce and Industry, and Mutee' Ghunaimat, Deputy Director-General of the Jordanian Enterprise Development Corporation (JEDCO). Hijazi emphasized the global competition for foreign investments and urged Arab nations to enhance their investment climates to attract more capital. He called for strategic planning, economic reforms, and improved infrastructure to position Arab countries as preferred investment destinations. He advocated for increased cooperation in developing investment agreements, supporting struggling economies, and promoting investment opportunities through various channels. Aziz highlighted the vast investment potential in the Kurdistan region of Iraq, particularly in sectors such as agriculture, manufacturing, tourism, and information technology. He emphasized the region's investor-friendly policies, including tax exemptions and land grants, to facilitate business operations and encoura ge foreign investment. Ghunaimat emphasized JEDCO's commitment to nurturing SMEs through financial grants, aiming to enhance their competitiveness and foster job creation. He outlined JEDCO's role in supporting Jordan's private sector and contributing to the Economic Modernization Vision. Source: Jordan News Agency