Following the enactment of a new investment law two years ago, the Jordan Investment Commission (JIC) has been streamlined by combining several bodies and is now designated as the sole entity responsible for attracting foreign investment. Thabet Elwir, the JIC’s Chief Commissioner, explains their priorities.
What sectors is the JIC focusing on promoting now, and where?
The JIC has sought to identify the highest level of potential return on any investment, and has now identified five high-priority sectors: business services, chemicals, tourism, IT and infrastructure. We are concentrating our efforts on the GCC, Africa and Europe, and we plan on increasing our presence abroad by participating in targeted promotional missions.
How has the new investment law impacted JIC?
Following the streamlining of multiple entities, today the JIC has centralized all investment procedures, and we now have the authority to establish economic zones for development. This is all facilitated through our investment window, which brings together representatives of different government entities in one place.
What are the JIC’s latest achievements?
We have organized forums in many Gulf and European countries. Also, an e-investment portal was developed to improve our services and interactions with investors, with a particular focus on attracting investment, increasing transparency and improving procedures.