AMMAN — The
Lower House on Tuesday passed draft legislation regulating the investment
environment in the Kingdom after a marathon debate, the Jordan News Agency,
Petra, reported.
اضافة اعلان
After eight sessions of discussion, in a
session chaired by Speaker Abdul Karim Dughmi and attended by
Prime Minister Bisher Al-Khasawneh, lawmakers endorsed the draft law, which aims at
deregulation and cutting red tape.
MPs voted on the
draft law’s 52 articles, including those pertaining to the registration and
licensing of economic activities.
A key article in the legislation
stipulates that authorities must complete transactions related to investment
within a period not exceeding 15 working days from the date of receiving the
application, and in the event of delay in responding, this is considered an
automatic approval.
The legislation authorizes the
settlement of investment contract disputes between the official authority and
the investor through arbitration, in accordance with the rules agreed upon
between them.
Read more National news
Jordan News
.jpg)
.jpg)
