The head of the Parliament’s Economy and Investment Committee, Dr. Khair Abu Sa’ilek, announced the government’s intention to establish major projects next year, including a railway project extending from Aqaba through Amman to the Iraqi capital, Baghdad, and a university hospital project on Airport Road in partnership with the Saudi Investment Fund, at a cost not less than for 150 million dinars, and a factory to generate hydrogen as an alternative energy.

He added, during a consultative meeting organized by the Jordan Chamber of Commerce today, Tuesday, that 23 laws are placed on the committee’s agenda during the coming period, in the interest of the business of the private sector.

Abu Sa’ilik called on the commercial sector to form a pressure tool, in cooperation with the House of Representatives, to maximize the local added value in the projects intended to be established during the next year, in a manner that preserves the local investor through its terms of reference.

He said, “The investment environment at the end of next year will be different, as there are new procedures for control, inspection and approval granted to the investor,” noting that the new investment law will not cancel any gains that investors have obtained from the law in force.

He stressed the need to unify the private sector, and to find a mechanism to set regulations and instructions according to specific procedures, to ensure discussion of those concerned with their application and to value the efforts of His Majesty King Abdullah II in the positive breach of the Caesar Law, by opening the Jaber Nassib crossing, and delivering electricity to Lebanon through Syria.

He praised the commercial sector and its contributions during the pandemic in placing the supreme national interest above personal interests and profit.

In turn, the President of the Jordan Chamber of Commerce, Nael Kabariti, referred to a number of issues and challenges facing the private commercial sector, including: “their” concern of securing goods at acceptable costs for citizens, the difficulty of logistical procedures in light of supply and supply chain disruptions, and the scarcity of cash. Kabariti said that The lack of liquidity is an important main issue, which calls for a review of bank interests in terms of lending benefits, not deposit interests, pointing to the need to consult the parties concerned with the implementation of any decision when taken.

He called for a review of the Jordanian tax basket, which exceeds many countries, and the unification of the supervisory and inspection bodies, and the instructions and regulations emanating from the Investment Promotion Law, in a manner that clearly shows the investor what he is entitled to, and the benefits he will receive.

Kabariti indicated that the private sector employs 1,235,000 citizens, 456,000 of whom are in the commercial and service sector, calling for cooperation and thinking about opening new markets, transit movement and the issue of labor replacement.
He pointed out that the commercial sector contributes to the gross domestic product by 59.5 percent, while imports constitute about 85 percent of citizens’ consumers.

During the meeting, the attendees discussed a number of challenges and obstacles facing the commercial sector, in light of the continuing repercussions of the Corona pandemic, including investment obstacles, represented in some of the powers contained in the articles of the law, relevant regulations and instructions, energy costs, various taxes, fees and licenses, and the law Owners, tenants, and some defense orders.