Joint investment tops Jordanian-Egyptian Business Council agenda

AMMAN — There are various opportunities for joint investment with Egypt in the energy, renewable energy, contracting and tourism sectors, Jordanian Businessmen Association (JBA) President Hamdi Tabbaa said on Sunday. 

During the inauguration of the 21st Joint Jordanian-Egyptian Business Council in Cairo, Tabbaa addressed a number of pending issues pertaining to customs and special audits of the standards and specifications at the Nuweiba Port in its capacity as a point of crossing, the Jordan News Agency, Petra, reported.

The JBA president shed light on the government’s recent investment incentives bundle, which stemmed from His Majesty King Abdullah’s meetings with businesspeople, pointing to the development prospects of economic relations and the importance of enhancing the volume of investments between the two countries given the distinct advantages of each nation.

He stressed the importance of following up on the implementation of memoranda  of understanding signed over the past years  to facilitate trade exchange, liberate trade and simplify non-customs conditions imposed on Jordanian exports to Egypt, most notably pharmaceuticals. 

Tabbaa noted that the volume of Jordanian investment in Egypt has reached an estimated value of $600 million shared by 1,945 companies, compared with $1 billion in Egyptian investments to Jordan shared by 499 companies.