IBC Delegation Meets with Head of Jordan Investment Board; Dr. Muntasir Al-Aqla
IBC delegation met yesterday; Sunday November 8th, 2015 with the Head of Jordan Investment Board Dr. Muntasir Al-Aqla at the Jordan Investment Board Headquarters – Wadi Saqra.
At the beginning of the meeting, Dr. Al-Aqla welcomed IBC delegation and discussed a number of issues and challenges facing Iraqi investors in the Kingdom, the most prominent of which were the banking facilities, energy bills and sales tax on the Tourism and Aviation Sectors.
During the meeting Dr. Al-Aqla affirmed that the Iraqi investor is an asset to the Jordanian economy, a factor of attracting Arab and foreign investments and a leading example for non Jordanian investors as to the successes achieved by the Iraqi investor under various challenges and circumstances.
Dr. Al-Aqla further stressed that supporting Arab and foreign investors is among the priorities emphasized by the Leadership of the country, and that the Iraqi investor enjoys a historic particularity due to his contribution to the promotion of domestic and foreign trade, pointing out to the continuous growth and development in the national economy that involves different challenges that must be addressed in order to resolve and overcome.
Dr. Al-Aqla further reviewed the mechanism of promoting investment and developing attraction of investments in light of the political and economic conditions prevailing in the region, lauding the efforts exerted by all official bodies to overcome the consequences of these challenges.
He highlighted the main features and characteristics of the current investment law, the benefits and incentives provided under the law for investors especially in light of the challenges Jordan faces as a result of the present circumstances.
He elaborated that establishment of an investment window meets the requirements of investors for speedy, advanced and high quality services.
Dr. Al-Aqla pointed out the advantages and exemptions provided for factory-owner investors regarding switching to solar energy.
On his part, IBC Chairman Dr. Majid Sadi thanked the Jordanian Government on its efforts to provide facilities to Iraqi investors, lauding the efforts exerted by the staff of Jordan Investment Board and in particular those of its Chairman for the pursuance of solutions to cope with the obstacles and challenges facing approximately 150 thousand Iraqi investors in Jordan whose fields of activity vary between Health, Tourism, Industry and Trade Sectors.
Dr. Sadi indicated that the challenges deriving from the present circumstances surrounding the Kingdom have not deterred the Iraqi investor from pursuing his economic activities, developing and promoting his investments by pumping extra capital, calling to find a way to reduce bank interests incurred on loans pertaining to expanding and developing the investor’s businesses.
He further added that the Iraqi investment sector in the fields of Tourism and Aviation began to suffer an unprecedented rise in rents of offices in the campus of the Airports Companies where rental rates doubled by over 100 per cent, in addition to higher energy costs.
IBC Vice Chairman and Secretary-General Mr. Saad Naji said that IBC embraces about 400 elite Iraqi investors with a volume of investment of about 14 billion US Dollars, stressing on the necessity of reaching satisfactory solutions for the challenges and obstacles facing the Iraqi investor; especially the issue of residency permits and means of transferring the said permits to members of investors’ families, in addition to taxes of the Hotel Sector in the Capital Amman compared with rates of hotel existing in the development and free zones.
At the end of the meeting, Dr. Al-Aqla promised to follow up all issues raised during the meeting with the competent authorities to overcome all obstacles facing the Iraqi investors in the Kingdom.
On IBC side the meeting was attended by IBC Chairman Dr. Majid Sadi, IBC Vice President and Secretary-General Mr. Saad Naji, Vice Chairman Mr. Turkey Al-Qaissi, Board members; Mr. Usama Al-Quraishi, Mr. Muhammad Al-Sarraf and Dr. Fakhri Rishan, IBC members; Mr. Ahmed Al-Amili, Mr. Aqeel Al-Hadi, Mr. Atheer Al-Qadhi and IBC CEO. The meeting was also attended by a number of Department officials and specialists in the Jordan Board of Investment.
Dr. Al-Aqla toured the Investment Board with IBC Chairman and members to acquaint themselves with the divisions and departments especially established to efficiently serve the investors.
We enclose side of the meeting and the associated links of press news in a number of websites which have been published today November 9th, 2015, for your kind information.
Al Rai Newspaper
Petra – Jordan News Agency
