Work ongoing on new law to develop investment, business climate — PM

AMMAN — Prime Minister and Minister of Defence Bisher Khasawneh on Sunday chaired the first meeting of the steering committee for the development of the legislative environment governing investment in the Kingdom.

The committee, in partnership with the private sector, will work on a new law meant to develop the investment and business climate towards promoting existing investments, reducing bureaucratic procedures that hinder investors work, as well as bringing Arab and foreign investment to Jordan, Khasawneh said.

He added that this law is intended to unify the laws related to investment and business in Jordan, noting that currently there are about 44 laws and more than 1800 bylaws related to investment. 

There are three courses of action to improve investment climate in the Kingdom, the first is related to quick procedures, through creating a single window to establish, register and license economic activities, he said, noting that the second path is related to reducing production cost.

The third course of action is relevant to that investment and businesses laws towards easing obstacles, he said, the Jordan News Agency, Petra, reported.