Representatives of US pension funds expressed interest in long-term investments in Jordan during a meeting on Thursday with His Majesty King Abdullah and other senior officials.

CEOs of 24 US pension funds showed willingness to extend large financing to various projects especially in the fields of energy, transportation, water, infrastructure and stock and securities market.

The chiefs of the pension funds said Jordan is not only qualified for individual investments but also enjoys the secure and stable investment climate that is inviting to large-scale ventures by major investment funds.

King Abdullah welcomed the top executives' visit to the country to explore investment prospects and voiced hope that cooperation would continue in the future.

He reiterated Jordan's resolve to press on with the drive to upgrade the investment environment and attract more foreign capital.

The King also highlighted the distinguished economic ties between Jordan and the US and the desire of both sides to establish joint ventures.

Present at the meeting were the King's Office Director, Bassem Awadallah and a group of concerned ministers, in addition to top officials from the Aqaba Special Economic Zone Authority.

The ministers took turn to present the visiting delegation with priority projects in Jordan especially those available in the Aqaba Special Economic Zone (ASEZ).

The officials also acquainted the US executives with projects slated for privatisation.

The CEOs, whose funds run trillion-dollar investments, said they would be studying these projects during the coming months with a focus on infrastructure projects in ASEZ.

Foreign investments in Jordan rose from $590 million in 2004 to about $1.06 billion in 2005. In the first quarter of the current year, the figure stood at $538 million.

Economic growth rate in the first quarter stood at 6.7 per cent, which is consistent with the rising trend in the past two years.

The Jordan Times