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Royal Hashemite Court (Jordan)

King Meets Members of French Businessmen Association
Amman, 1 October 2003

His Majesty King Abdullah II affirmed during his meeting with the members of the French Businessmen Association which was attended by Queen Rania, commitment towards achieving a sustainable economic growth that is based on private sector investment, maintenance of economic stability and creating suitable circumstances to find work opportunities for youth.

"To achieve our vision for economic stability, we started providing the suitable legislative and administrative environment to attract investments and to increase the volume of investments in the higher and primary education," the King said, noting that $500 million was allocated for the next three years within an integrated and comprehensive program to develop curricula, to enhance the performance of teachers and to build modern schools linked with information net.

The King affirmed that Jordan achieved a good level of success in the exports which increased by more than 25% in 2001 and 15% in 2002, expressing hope that exports will increase in 2006 to reach 46%.

The King also said that the new situation in Iraq provides numerous opportunities for Jordan which is a main gate for reconstructing Iraq and investing in it, adding that Aqaba Port will be an intrinsic gate for transporting goods to Iraq. "Work is underway to modernize transport network in Jordan to meet the future Iraqi needs," he said.

His Majesty praised the role of French companies in contributing to the investment in Jordan, indicating that these companies became an active partner with the Jordanian companies, for French investments in Jordan are the largest among foreign investments with over $650 million.

For his part the President of French Businessmen Association praised the role and the efforts of His Majesty to provide peace and stability in the Middle East. "Despite the difficult conditions that the region passed through, Jordan was able to achieve reasonable economic growth, thanks to the wise vision of His Majesty and the world's confidence in the Jordanian economy," he added.

The planning Minister, chief commissioner of the Aqaba Special Economic Zone, President of the Jordanian Businessmen Association and Director of the Jordan Investment Board also reviewed privileges and opportunities provided by Jordan's economy to foreign investors.