The Most Common Questions:
What sets Jordan apart from other countries ?
Jordan is the most favorable in terms of economic risk and has less of a security risk than other regional competitors.
Despite the region’s ongoing political and security challenges, Jordan’s economy has been flexible. The economy has benefited from earlier years’ reform agenda in the areas of privatization and public finance management. Jordan’s business environment has experienced significant and rapid changes in terms of both its complexity and competitiveness in global markets.
High levels of trade freedom and investment freedom continue to sustain market openness, keeping the economy relatively competitive. The Increased demand for qualified labor, coupled with growing international competition for resources, have forced Jordanian businesses to remain flexible and become more resourceful.
The government has worked diligently at implementing a raft of different measures to support local businesses and promote investment in the kingdom, while at the same time maintaining a balance with its need to generate the tax revenues that form a large percentage of its annual budget.
With relatively well-developed basic infrastructure and business-friendly facilities, Jordan’s economy makes an attractive investment proposition, which the government is working to strengthen through investment promotion laws that aim to maintain a certain amount of tax revenue while at the same time providing the additional edge sought by investors and business owners alike.
To promote development and bolster the capacity of the economy, the government is building on what has been achieved, specifically be reinforcing growth catalysts and proceeding with the economic reforms required to keep pace with our current development. Our aim is to develop and strengthen Jordan’s economic and social environment, such that we ensure sustainable progress and the fair distribution of development gains.
Jordan’s position as a gateway to the wider region enables investors and entrepreneurs to access a market of more than 1bn consumers. Further our highly developed and modern infrastructure and logistical facilities also assist in providing access to these markets and pave the way to transform the kingdom into a logistical and trade hub for the MENA region.
In addition to the tech-savvy human capital and the significant number of educated and trained personnel at the local level, the availability of which helps to provide an environment conducive to attracting new investments, expanding existing ones and encouraging partnerships across a variety of sectors. In addition, incentives offered by Jordan’s special and industrial zones make it the perfect location to open a business.
Jordan does an exemplary job at moving goods quickly across borders. Re-export driven investors look highly upon this attribute and the government is intent on increasing the share of goods exported to the rest of the world, and is likely to improve this score even further. The legal protections may encourage investors to invest more capital. Jordan's unique trade and investment framework agreements offer investors access to a market of over one billion consumers.
What are the top investment opportunities?
The JIC has developed and launched the Investment Opportunities Road Map which features a number of investment opportunities from a variety of sectors across the Jordanian governorates.
Each governorate’s economic needs and priorities were considered when tailoring each identified opportunity.
Mega projects were also identified with nearly $13.5 billion in new investment opportunities into the country’s promising sectors: Energy, Transport, Water, Environment, Tourism setting Jordan as an excellent point for investments and the ultimate gateway to reach the Middle East and North Africa’s potentials for future growth, development and prosperity.
These opportunities may be found along with their respective pre-feasibility studies on the official JIC website:
Which are the priority sectors?
Healthcare and Pharmaceuticals
Tourism and Medical Tourism
ICT and BPO
Industry and Chemicals
Mega Projects in water, renewable energy and logistics
What are the primary markets that JIC will be targeting this year?
The investment commission has adopted an investment promotion strategy that is intended to align with Jordan’s economic development policy, in particular Jordan Vision 2025, a 10-year blueprint for economic and social development. Implementation of Jordan Vision 2025 seeks to reverse deterioration in the country’s relative competitiveness through a combination of priority initiatives. These initiatives are designed to deliver improvements in and enhancements in four key areas: society as a whole; individual citizens; government and governance; and the business environment. Moreover, Jordan Vision 2025 places considerable emphasis on the role and importance of mobilizing and attracting private sector investment to achieve the vision and transform Jordan.
JIC’s approach to targeting these investments will be based on identification of specific companies and focus on a set of high priority target markets such as: USA, China, Turkey, India and Africa for promoting national exports.
Where does JIC direct its investors and what are the incentives granted under the investment law No. (30) for 2014?
JIC is in charge of attracting investments all through the kingdom. However, Jordan has sought to establish a number of development zones, which aim to host the establishment of different economic activities that suit the competitive advantages enjoyed by each region and distribute the gains of economic development in all parts of the Kingdom.
The Investment law No. (30) for 2014 supports the government of Jordan’s goal of striving to lead the economy to stability and attract foreign investors.
The Law provides a wide range of exemptions and deductions on income tax, sales tax, and customs fees for investments inside or outside the development zones and free zones. Not only that, the Law categorizes items necessary to carry out the economic activity into schedules and stipulates that based on these, the income tax department and the sales tax department have to refund any tax paid within 30 days from the date that such a request is submitted.
What is the perception of Jordan as a gateway to the rebuilding of Syria and Iraq?
Jordan intends to serve as a thriving hub for global businesses looking to become involved in the growing opportunities available throughout the Middle East capitalizing on its location as an intersection of major trade routes connecting Jordan with Iraq, Syria, and Saudi Arabia.
The future vision will be based on improving the environment suitable for various elements to raise the productive capacity of the various governorates based on their respective competitive advantage in order attract investments that are interested in setting their bases in Jordan and operate in the neighboring countries.
The reconstruction process requires huge investments and it is unlikely that countries will be able to bear this burden. Therefore, the private sector must be involved and its contribution to the reconstruction of infrastructure projects. This requires providing the legislative and investment environment that supports this trend.
What does the Investment Commission offer to investor as services?
His Majesty King Abdullah stressed the need for the JIC to be equipped with the necessary capacities and cadres to provide optimal services to investors and urged all institutions to commit to cooperating with the JIC to fulfill its role, including what has been outlined in the Jordan Economic Growth Plan 2018-2022.
Some of the services include a fast track investment window for licensing and registration and a fast track service for emerging companies in the ICT sector. Also as part of the services, the JIC, in cooperation with the Ministry of Interior, has adopted a single security check for investors that will be enough for any service or procedure for their investments in the Kingdom in addition to the recent decision of granting the Jordanian Citizenship to investors based on fulfilling certain conditions and requirements. The JIC has also streamlined procedures to register and license investment projects and launched licensing and services guides.
JIC services are:
Provide comprehensive information on investment opportunities in the Kingdom.
Provide preliminary feasibility studies for promising projects.
Registration and licensing of economic activities covered by the Investment Law within and outside the development zones through the Investment Window.
Regulate the granting of incentives and advantages in accordance with the Investment Law.
Provide After-care services.
Promote exports and help open new export markets and increase the share of Jordanian exports in international markets.
The Investment Window:
The Investment Window at the Investment Commission, or the One-Stop window, is one of the most important means of empowering local and foreign investments by simplifying registration and licensing procedures for investment projects that benefit from the Investment Law.
The Investment Window includes fully authorized representatives of the government authorities concerned who have the authority to issue approvals and licenses for investment projects, as well as qualified staff from the Commission for procedure facilitation and follow-up.
Services provided by the Investment Window:
Provide information and technical advice to investors.
Register companies and sole proprietorships within and outside the development zones.
Issue the licenses and the approvals necessary for economic activities to conduct their business and issue licenses to practice economic activity within the development.