AMMAN — The Senate’s Financial and Economic Committee on Sunday approved the 2022 draft investment environment law as referred by the Lower House, the Jordan News Agency, Petra, reported.

The committee’s meeting was attended by Planning Minister Nasser Shraideh, Justice Minister Ahmad Ziadat, Finance Minister Mohamad Al-Ississ, Industry and Trade Minister Yousef Shamali, Investment Minister Khairy Amr as well as Director General of the Income and Sales Tax Department Hussam Abu Ali.

The draft law came with the objectives of enhancing the Jordanian economy’s competitiveness and ability to attract investment, developing investment-regulating legislation, defining the principles on which the general investment policy is based, and detailing the rights, privileges and duties of investors.

The draft law also seeks to define the tasks and powers of the Ministry of Investment and the Investment Council, establish a ministerial committee for incentives and exemptions, and regulate the establishment, supervision and management of development and free zones within the Kingdom, as well as develop and simplify commercial and economic activity.

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