Local News

The government launches its priority program for economic recovery, at a cost of more than 4 billion dinars

Amman Today

publish date 2021-08-29 18:23:10

On Sunday, the government launched a program of work priorities for economic recovery for the years 2021-2023, which aims to address major challenges (unemployment, slowing economic activity, and maintaining monetary and financial stability).

The program’s capital expenditure is 480 million dinars; 280 million from the general budget, and 200 million from foreign aid, while the value of the government’s priorities related to stimulating investment in major projects and partnership with the private sector, whose total value is estimated at about 3.8 billion dinars.

The program, which was carried out in coordination with the relevant ministries, partners from the private sector and the National Assembly, both deputies and notables, includes a live document that is reviewed and updated every 6-9 months.

It is in line with the main references from sectoral plans and strategies that include the High Commission of Inquiry, Jordan Vision 2025, sectoral strategies, goals of the 2030 Agenda for Sustainable Development, and the indicative executive program 2021-2024.

It includes reforms, policies and priority projects to stimulate economic growth and create job opportunities, as the government affirmed its commitment to implementation and achievement through the Achievement Unit in the Prime Ministry to follow up and provide technical support, within a clear time frame and achievement targets for each priority.

The government has identified 53 priorities distributed over 3 main axes, making sure to secure sources of funding for all priorities from the public budget, or with funding from foreign aid, or the private sector.

The program aims to enable the private sector to create job opportunities required to employ Jordanians, increase and stimulate local and foreign investments, and increase the volume of exports of goods and services, through 3 axes: improving the investment environment and doing business, supporting priority economic sectors, enhancing competition and motivating the private sector to operate.

The first axis on improving the investment environment and doing business, aims to develop a legislative and institutional environment conducive to investment and doing business, and enhance the competitiveness of the national economy by reducing the cost of electricity, restructuring customs tariffs, and facilitating access to finance.

It also aims to accelerate the digitization of government services (for more than 250 services, electronic payments, electronic invoicing…), and to stimulate investment by attracting 5 strategic investments in the mining and rare earths sector, developing services and an investment promotion system, and stimulating the capital market.

The government has set its plan to launch infrastructure projects and partnership projects with the private sector in the current and next years. In 2021, the government seeks to build 15 schools at a cost of 30 million dinars, high-speed buses between Amman and Zarqa at 30 million dinars, and construct buildings and freight and passenger yards in Jisr. King Hussein, the “shore gasification” unit at a value of 96 million dinars, the Irbid Central Market at about 60 million dinars, the national water carrier at about two billion dinars, and the project of using solar thermal energy in government and military hospitals at about 30 million dinars.

In 2022, the government set plans to launch the first phase of the national railway network project, with a value of 1.6 billion dinars, completing regional electrical interconnection projects (Egypt, Palestine, Iraq, Lebanon) with a value of 55 million dinars, and developing production in the Hamza oil field with a value of 17.2 million dinars. Dinars, developing production in the Risha gas field at a value of 38 million dinars, and implementing an intelligent transportation system to improve the quality of public transport services by two million dinars.

As for the second axis related to promoting competition and stimulating employment, it includes reviewing and amending legislation and procedures to ensure fair competition and ease of entry to the local market and the practice of work in various sectors.

It also includes private sector support to sustain current job opportunities and create new opportunities, by amending the Social Security Law to reduce contributions for new subscribers and link contributions to economic performance, new amendments to the Labor Law with the aim of creating a possible and safe environment for women’s work and organizing the labor market more effectively, extending the sustainability program until The end of June 2022 for economic sectors that need a longer recovery period, at a value of 30 million dinars, and the launch of the National Employment Program to stimulate the private sector to create job opportunities to employ Jordanians (direct support for insurance contributions, wage support, and skills development) with a value of up to 80 million dinars.

The third axis related to supporting the priority economic sectors, which includes supporting the recovery of priority economic sectors and unleashing their potential to stimulate economic growth and employment and increase exports by helping the tourism sector recover (supporting charter flights, developing products and services, providing concessional financing for tourism projects…).

By promoting Jordan as a regional center for digital transformation and information technology services (developing a roadmap to launch the fifth generation band, attracting 10 investment opportunities in supportive fields, stimulating leadership…), increasing the productivity of the agricultural sector and enhancing its export potential (adopting modern technology, marketing company, stimulating industrialization food), and supporting the growth and export potential of the industrial sector (providing infrastructure that stimulates investment, the Industrial Sector Support Fund…).

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Jordan News

Source : اخبار الاردن

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