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Royal Hashemite Court (Jordan)

King Abdullah II Approves Investment Ambience Improvement
Amman, 24 April 2002

His Majesty King Abdullah II Wednesday approved the recommendations passed by the National Strategy Committee for Improvement of Investment Ambience, which was formed by the Consultative Economic Council (CEC).

King Abdullah, who chaired the council`s meeting, gave instructions to form a joint committee from both the private and the public sectors chaired by the Minister of State and National Economy Mohammad Haleiqa. The committee, in cooperation with the Royal Court Economic Department, will study the recommendations and approve what can be applied.

His Majesty expressed appreciation to the efforts of CEC Investment Committee which prepared the strategy and urged the private sector to carry out its role in economic growth process.

Prime Minister Ali Abul Ragheb stressed the necessity that the joint committee should consider the demands contained in the CEC committee`s recommendations so that their financial dimensions doesn`t burden the state budget.

The government has no premeditated stands pertaining to any measures, but it wants to be sure that these measures are designed to serve the nation`s interests, Abul Ragheb said during the meeting. He urged the private sector to undertake its role and duties and to be a true partner in economic growth and improvement of the economic climate.

The CEC committee expected that a Jordanian Corporation for Projects Development would be formed next June and define the legal frame of the projects and decide on their priorities and terms of reference next August, in order to act to improve the investment ambience.