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New ICT projects trickling in post tax cuts

By JT - Jul 16,2016 - Last updated at Jul 16,2016

AMMAN – Investors have shown strong interest in starting up new projects in the information and communication technology (ICT) sector, the Jordan Investment Commission (JIC) said on Saturday.

In a statement, JIC President Thabet Al Wir said ICT investors have applied to build up projects, worth JD20 million. The projects are expected to provide around 900 job opportunities.  

The JIC attributed the growing interest to fresh incentives and recent tax cuts granted to ICT investors, in pursuance of a Cabinet decision.   

Wir said the projects will create no less than 894 job opportunities for Jordanians, explaining that this month the JIC received applications for 16 ICT projects.  

Investors’ envisaged projects cover different ICT business areas, including the development of software, different mobile and Internet apps, digital services and electronic games, Wir noted, underscoring the importance of the ICT sector for the economy.

Goods needed to facilitate the ICT projects, whether imported or purchased from the local market, will benefit from a zero per cent sales tax. 

Wir urged investors to benefit from current incentives and start up ICT projects that can create jobs and provide a chance to make use of and further build young people’s innovative skills.  

In April, the government endorsed a set of incentives to boost growth in the ICT sector, whose contribution is deemed vital to the country’s gross domestic product. 

The ICT sector’s revenues dropped by 14 per cent in 2014 compared to 2013, down to JD546 million, according to figures of the ICT Association of Jordan ([email protected]).

 

The decline was attributed to several local and external factors, including lack of incentives in previous years to boost the sector.

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