You are here

Chinese carmaker to build assembly plants in Kingdom

By Omar Obeidat - Sep 12,2015 - Last updated at Sep 12,2015

YINCHUAN, China – Jordan Investment Commission (JIC) is in talks with two Chinese automakers to build assembly plants in the Kingdom to produce cars for Middle East and North Africa markets, JIC President Montaser Oqlah said Saturday. 

“The talks are serious as they are very interested to do business in Jordan,” Oqlah told Jordanian journalists on the sidelines of the 2015 China-Arab States Expo, which started last Thursday in Yinchuan, the capital of Ningxia Hui autonomous region. 

He refused to give further details or the names of the manufacturers. 

Speaking on the $7 billion investments announced Thursday during the economic forum, attended by His Majesty King Abdullah, Oqlah said other investments are expected to follow as Chinese businesspeople showed “immense interest” in the Jordanian market as a base for projects targeting regional and international markets. 

Security problems and instability in the region were major concerns for Chinese firms, but the announcement of the $7 billion investments is an indicator that they know the facts about Jordan as an oasis of calm despite regional turmoil, he noted, adding that China is on top of the lists in the new investment strategy for the Kingdom. 

Oqlah said that the JIC has signed a memorandum of understanding with China National Trade Company to help the Kingdom identify and target large Chinese firms to come to Jordan to carry out projects in key fields such as infrastructure, energy and railways among others. 

“Representatives from the company will be visiting Amman in mid-October for this purpose,” he added, pointing out that on September 15 a Jordanian-Chinese business forum will be held in Beijing, organised by the Jordanian embassy there. 

Between 200 and 300 companies from China will be attending the forum to look into investment opportunities available in the Kingdom, he said. 

Oqlah said that the respect and admiration King Abdullah enjoys from Chinese officials and businesspeople gave a boost to attracting investments from China, praising the support his commission receives from His Majesty and the government. 

“This participation was exceptional due to the huge interest Chinese businesses showed in Jordan,” he added. 

The JIC chief indicated that a memorandum of understanding was signed in Beijing while the King was there to establish a Sino-Jordanian technical university in Amman, but the size of investment in the project was still not decided. 

 

Jordan is an honorary guest in the 2015 China-Arab States Expo with the two largest pavilions. The four-day event concludes Sunday. 

up
164 users have voted.

Comments

THIS MARKS THE START OF A NEW CHAPTER IN THE HISTORY OF ECONOMIC ACTIVITY IN JORDAN AND I CONGRATULATE THE GOVERNMENT FOR THIS VISION THAT NOT ONLY WILL CREATE LOTS OF JOBS BUT MAKES CARS MUCH CHEAPER IN JORDAN. IT ALSO
FOSTERS STABILITY BECAUSE THE FOREIGN OWNERS OF ANY INVESTMENT IN JORDAN AUTOMATICALLY BECOMES AN INTEGRAL PART
OF JORDANIAN SECURITY SYSTEM. GOOD THINKING AND GOOD TIMING AND I CONGRATULATE HIS MAJESTY AND HIS GOVERNMENT. THERE IS A SAYING THAT SAYS " NEVER PUT ALL YOUR EGGS IN ONE BASKET ". DO NOT DEPEND ON ONE ENTITY.

Add new comment

CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
1 + 8 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.

Newsletter

Get top stories and blog posts emailed to you each day.