JIC announces investors grievances by-law regulations

AMMAN — The Jordan Investment Commission (JIC) on Sunday launched the regulations of the investors grievances bylaw with the support of the World Bank. 

During the launch ceremony, which was held at the Jordan Chamber of Industry (JCI), JIC Chairman Khalid Wazani said that the by-law aims at empowering and supporting investors, so as to increase Jordan's competitiveness in international reports related to doing business, the Jordan News Agency, Petra, reported. 

During the ceremony, the JIC also launched an electronic application provided by the Information and Communications Technology Association of Jordan to serve investors and support their activities.

Wazani noted that during the first half of this year, the commission is scheduled to launch 60 e-services on the new application to ease investor activity, in addition to providing several investment opportunities next month, including projects of various scopes in multiple economic sectors. 

He added that these reforms and services help Jordan become a "business gateway", noting that the process of receiving revenues from foreign investments is a "long journey". 

Wazani highlighted that a unit has been established within the JIC to follow up on and rectify investor complaints.

The Cabinet in October 2019 approved the investor grievances bylaw No.163 to implement a mechanism to enable investors to file complains concerning decisions issued by government agencies, the statement added.

The by-law also includes a mechanism for amicably settling investment disputes between government agencies and investors, Petra said.

Meanwhile, the JIC and the JCI signed a memorandum of understanding to open an office in Shanghai to attract Chinese investments into the Kingdom and promote industrial products in the Chinese market.