SEOUL (Petra) - Daewoo International Corporation announced plans on Tuesday to establish an electric appliances factory in the Kingdom, which will be the largest in the Middle East and North Africa region.
The factory, which will start production in 2009, will create 5,000 job opportunities for Jordanians.
The appropriate investment climate in Jordan and the availability of specialised manpower, in addition to Jordan's strategic geographic location, encouraged the company to endorse the plan, top executives from the company said.
The announcement was made during a Jordanian-South Korean Business Forum held yesterday in Seoul, bringing about 200 businesspeople and key economic figures from Jordan and South Korea.
The factory will be created under a partnership agreement signed between Daewoo and the National Integrated Industrial Complex, one of the companies affiliated to the Middle East Complex for Engineering, Electrical and Heavy Industries (MECE).
MECE CEO Osama Khalili noted that training is under way for Jordanians to benefit from the jobs created under an agreement signed with the Ministry of Labour.
Also Tuesday, Jordan and South Korea signed a $75 million initial framework agreement to lay down a sewage network in south Amman.
In addition, the Jordan Investment Board (JIB) and the Korea Trade-Investment Promotion Agency signed a deal yesterday to expand cooperation.
Another agreement was also signed between the Jordanian chambers of commerce and industry and the South Korean Chamber of Commerce and Industry to boost cooperation in fields of trade, investments and industry.
© Jordan Times 2008
