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Jordan always seeks to attract Saudi investments, says JBA

Chairman of the Jordanian Businessmen Association (JBA), Hamdi Taba'a, said Jordan always seeks to attract more Saudi investments by enhancing the distinguished relations that link the private sector in both countries.

During a meeting with the Saudi Ambassador to Jordan, Nayef Ben Bandar Al Sudairi, Taba'a said the economic relations between the two countries have witnessed a "remarkable" development during the past years, especially as Saudi Arabia is an important trade partner for Jordan.

Taba'a noted Saudi Arabia is one of the three largest countries investing in Jordan with an investment volume exceeding more than $10 billion in the sectors of health care, education, tourism, transportation, infrastructure, and energy.

According to a press release issued by the JBA on Sunday, Taba'a called on the Saudi private sector to get acquainted with the available investment opportunities in various "promising" economic sectors, as well as investment privileges at the existing projects in the industrial cities and the free and development areas.

In this context, he also highlighted privileges offered by the Investment Law to foreign investors.

Al Sudairi, for his part, said the Jordanian-Saudi relations are "historic, especially since Saudi Arabia provides assistance to Jordan, a reflection of the depth of bilateral relations".

Continuing:" Working to increase the volume of joint investments will contribute to supporting Jordan's economy, driving growth and providing new job opportunities."

The envoy also pointed to the Saudi embassy’s willingness to cooperate with the JBA to enhance joint relations between the business communities and achieve a new start with trade, economic and investment ties in the two countries.

Jordan's exports to Saudi Arabia amounted to nearly $ 733 million in 2018, compared to $ 3.4 billion in imports.