Aug 11 2010 |
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Jordan: Finance minister highlights steps to boost investment, stimulate growth
AMMAN -- Finance Minister Mohammad Abu Hammour said the government has identified four main pillars in order to boost investment environment and to stimulate economic growth.These pillars include enhancing local investment as well as attracting more Arab and foreign investments, increasing the role of the private sector through the public private partnership initiative, enhancing coordination between fiscal and monetary policies and raising the competitive capacity of the Kingdom's economy.
In a speech he delivered at an economic forum, organised on Sunday by the Jordan Academics Association, on Jordan's economy during the second decade of the 21st century, the minister said:
He added that financial and social reforms implemented by the government were necessary to address the unprecedented budget deficit and widening public debt.
Abu Hammour said that Jordan National Agenda, which the government decided to upgrade in April, seeks to double the average income of Jordanians by 2017 in addition to implementing social and financial reforms in public agencies.
Indicating that measures to control the deficit in the budget will affect the government capital investment, he indicated that the government has to find new ways to implement capital projects, particularly megaprojects, through the partnership with local, Arab and international private companies.
He stated that the government is currently studying means to carry out these projects in a way that can guarantee quality services to the public at reasonable prices and in a way where investors can generate profitable returns.
He explained that the government is preparing certain legislations to regulate the partnership between public and private sectors according to transparent measures that can give all investors equal opportunities to take part in large schemes without preferring any party at the expense of the other.
© Jordan Times 2010
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