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Chinese investors, New Mazar discuss investments worth JD25 million

By JT - Sep 23,2019 - Last updated at Sep 23,2019

AMMAN — Hangzhou Investment Holdings Co. Ltd. and Chinese investors have discussed means of cooperation and partnership with the New Mazar Municipality through investments in the North Mazar valued at JD25 million in the first phase.

The meeting, between Hangzhou Chairman of the Board of Directors Mohammad Jarrah, Chinese investors and Mayor Mutee Sharman, included signing a memorandum of understanding, Al Rai Arabic daily reported on Sunday.

The company expressed its readiness to increase its investment in the health, environment, tourism, and sustainable development sectors, while starting partnerships with ministries, municipalities and local community institutions. 

The New Mazar Municipality, for its part, would offer all procedural facilities and infrastructure.

Hangzhou, which was registered and licensed in Irbid this year, comprises Chinese investors in the fields of small- and medium-sized enterprises, tourism, health, environment and transportation, Jarrah told Al Rai. 

Sharman reviewed the most-needed projects in the municipality, including a hospital, medical centres, alternative energy plants, the installation of street lights and renovating the old town of Samad, expressing the municipality’s readiness to cooperate with the company and investors to provide necessary infrastructure and lands for their projects.

Jarrah noted that the company has already started establishing SMEs in the Koura and Northern Mazar districts and real estate ventures in the capital.

The chairman also said that the company is considering the establishment of a “big hotel” in Irbid to be affiliated with the Hilton group, noting that plans and funds are ready.

He said that the company is willing to form partnerships with the public and private sectors regarding the land transport, light train and metro sectors, noting that the investment environment in Jordan is “promising” for these vital projects. 

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