AMMAN —
Minister of Investment Kholoud
Al-Saqqaf said that the new Investment Environment Law, which recently entered
into force, aims to unify all 18 regulations and instructions mentioned within the
law into a single unified system to facilitate investment, Khaberni reported.
اضافة اعلان
Saqqaf was speaking during a meeting organized
on Saturday by the Jordanian Businessmen Association to discuss the
Investment Environment Law and the new unified system with a group of businessmen and investors in
Jordan.
The new law conforms to best international
standards and practices, and includes many incentives, benefits, and exemptions
to encourage investment in the Kingdom, the minister said.
To
boost investment in less-developed
regions, Saqqaf noted, income tax is exempted or reduced in parts of the
Kingdom designated as less-developed, or for projects that employ at least 250
Jordanian workers.
Head of the Jordanian Businessmen
Association, Hamdi Al-Tabbaa, confirmed the importance of this step, noting
that one challenge in
attracting investment in Jordan is a low return on
investments due to a high rate of income tax.
Tabbaa stressed the importance of investments
for the Kingdom’s business community and highlighted other obstacles to
investment that require the cooperation of all related parties, such as high
energy and production costs and bureaucracy in licensing.
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