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JIC approves 26 investment projects after anti-red tape measures come into force

By JT - Aug 20,2017 - Last updated at Aug 20,2017

AMMAN — Since the recent implementation of measures to cut red tape and stimulate investment in the Kingdom, the Jordan Investment Commission (JIC) has granted 26 licences and approvals for investment projects, the Jordan News Agency, Petra, reported on Saturday.  

The size of these investments is approximately JD141 million, distributed between the tourism, industry and agricultural sectors.

The JIC said in a press release on Saturday that it expects these projects to result in the creation of 1,255 job opportunities, according to figures from the owners of these ventures.

It added that 19 investment projects of various nationalities — including Jordanian, Palestinian, Saudi, Kuwaiti, German, Australian, Syrian and Romanian — are distributed in the sectors of information technology, renewable energy, industry, tourism and agriculture. 

The statement added that, since the launch of the speedy service line, the duration needed for investors to obtain the necessary approvals to establish their investment projects has been shortened significantly. 

The average time span for transactions done through the commission now does not exceed seven days, it stated. 

The JIC has worked to facilitate the service for investors and to provide all services related to the completion of the necessary procedures for the registration and licensing of investment projects through the speedy investment services, according to Petra.

 

The services include  registration of foreign companies, issuance of importer permit and providing service to assess and estimate the prices of real estate and land for investment purposes in and outside the development areas. These services were previously provided through ministries and government institutions, and are now also provided through the JIC, according to Petra.

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