ROME -- Italians will enjoy fresh Arabic bread as a renowned Jordanian bakery will open a branch in the Italian capital soon in cooperation with a local investor.
Alaa Keshta, who has a chain of bakeries in Jordan, is now working out final details for the project with assistance from the Jordan Investment Board (JIB), having completed related-feasibility studies.
Project proposal and discussions have been made possible through the second Economic Forum of the Mediterranean which provided businessmen and entrepreneurs from Mediterranean countries with the chance to examine business cooperation prospects with their Italian counterparts.
"There is good demand on Arabic bread and Italy currently imports Arabic bread from Germany," Keshta told The Jordan Times, adding that the bakery will hire Jordanian workers as they have the required experience in the field.
Businessmen, who did not clinch any deals during the forum, said they have made new contacts and they will follow up on what has been achieved to tap investment opportunities.
A Palestinian businessman said: "Not only did the forum provide the opportunity to meet businesspeople from Italy and other Mediterranean countries, but it also gave industrialists from the same country who operate in the same sector the chance to meet and share experiences." "Usually, businessmen are so busy and they hardly have the time to meet."
The second day of the forum included presentations by delegates from different countries, highlighting the most conducive investment sectors, in addition to business- to-business meetings and visits to industrial plants across Rome.
Speakers focused on opportunities available in the sectors of energy, water and hi-technology.
In his presentation, Elias Farraj, head of JIB's policy advocacy unit, focused on the energy sector and available investments in the Kingdom, citing agreements Jordan signed with eight countries on the peaceful use of nuclear energy.
Farraj also highlighted the country's oil shale reserves and investment related legislation. This year, Jordan has endorsed a temporary renewable energy law, while another law on electricity is to be endorsed shortly, he said.
According to Farraj, Italy's investments in Jordan, which have benefited from the Jordan Investment Law, currently stand at around $53 million, distributed between the industrial sector and hospitals.
Italian speakers emphasised the need for incentives and streamlined regulations in order to launch any business in a foreign country, saying the Italian expertise will help build cost effective and time-saving projects that can provide jobs for locals and, subsequently, give partner countries the knowledge to start similar companies on their own in the future.
In follow up to the forum and Italy's investment promotion activities, a large Italian economic delegation is scheduled to visit Jordan and Lebanon in June, Mauro Mariani, the commissioner of the Amman-based Italian Trade Commission, told The Jordan Times.
The forum was held by Confindustria (Confederation of Italian Industry), the Italian Institute for Foreign Trade and the Italian Banking Association along with the Italian ministries of foreign affairs and economic development.
By Abeer Nouman
© Jordan Times 2010
