Jordan gov’t mulls new measures to ensure business continuity

Number of registered companies has declined by half, JBA warns

  

AMMAN — Minister of Industry, Trade and Supply Maha Ali on Saturday said that the government is considering new procedures to realise the sustainability of sectors and institutions and achieve economic recovery.

During a dialogue session organised virtually by the Jordanian Businessmen Association (JBA), Ali said that defence orders as well as the partial and full lockdowns aim at preserving citizens’ health, the Jordan News Agency, Petra, reported.

The minister also referred to scheduled amendments on the Companies Law, the activation of the Insolvency Law and the enhancement of public-private sector partnerships.

JBA President Hamdi Tabbaa said that the several challenges facing the national economy due to the COVID-19 pandemic are worrying for the private sector, especially since many important economic indicators continue to be on the decline, and that further cooperation is required to overcome impact of the crisis with the least possible losses.

Tabbaa also highlighted the importance of enhancing the business environment in a way that guarantees the sustainability of existing companies and investments.

The JBA president noted that the number of registered companies between the beginning of the year and the end of November declined by 51 per cent compared to the same period of 2019.

He also said that preventing change of occupation in the case of shutdown and the corresponding punishment of such a change by seizures of movable and immovable properties, as mandated by Defence Order No. 6, are not practical conditions, especially since the pandemic resulted in changes on the economic trends.

Instead, the JBA president called for allowing companies to change their commercial activities freely without any restrictions, in a way that suits investors and helps them keep their employees, to avoid facing a recession.

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