Apr 26 2012
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New draft law ushers fresh drive for funds
The latest version of the draft law, a copy of which was obtained by the Jordan News Agency, Petra, stipulates that a higher council for investment will be established to endorse strategies and national policies concerning investment besides setting up plans and programmes needed to implement these policies and promote them.
Also under the law, a commission for investment promotion and development will be established to enhance the confidence in the Kingdom's investment environment, set up plans and programmes to stimulate local and foreign investments, establish trade centres in addition to holding exhibitions and opening markets inside and outside the Kingdom.
The law also includes granting extra incentives and exemptions to economic activities in the country including small- and medium-sized enterprises.
The draft law also includes the establishment of development and free zones, which will be administrated by the board of commissioners.
Endorsing the draft law would cancel the 1995 Investment Promotion Law and the 2003 Investment Law.
© Jordan Times 2012
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