Amman, December 6th, 2016 –
The World Bank Group supported the Jordan Investment Commission (JIC) in launching its e-investment portal which will increase the transparency of Jordan’s business climate and promote investments through providing all relevant information on available incentives to potential investors.
The e-investment portal will help the JIC improve its services and interactions with the private sector, with a focus on attracting investment, increasing transparency, and improving business regulations. The portal will facilitate investors’ access to information about private investment opportunities in Jordan and the services offered by JIC, including the Investment Single Window, which serves as a one stop shop for business registration. It will also include an inventory of investment incentives that will help JIC enhance transparency about the tax, customs, and financial incentives offered by different government agencies in Jordan. The inventory is easily accessible to investors through a user-friendly interface to an online database directly from the new JIC e-investment portal.
The World Bank Group team provided the JIC with technical support, project management support, and quality assurance for the implementation of the portal. These activities are a part of the Jordan Competitiveness and Investment Program and the Jordan Investment Promotion Project which aim to improve the investment climate, attract private investment, and create economic opportunities for Jordanians and Syrian refugees in Jordan.
H.E. Thabet El Wir, Chairman of the Jordan Investment Commission, said, “Through the support and long standing partnership with the World Bank Group, the JIC has developed a world-class e-investment portal and inventory of incentives that will help Jordan attract private investment to achieve the country’s national development objectives, including creating economic opportunities and jobs.’’
This project aims to support the Government of Jordan’s efforts in making the country attractive for private investors, both foreign and domestic, through improving its investment policy and promotion efforts, streamlining business regulations, and boosting good regulatory practice among all institutions.
“Improving the range and quality of services provided by the government to the private sector will make Jordan more competitive to attract and retain private investments,” said Dr. Ahmed Attiga, IFC country representative in Jordan. ‘’The e-investment portal marks a key milestone in the Government of Jordan’s agenda for investment climate reforms.”
The e-investment portal was launched during a workshop today, in which senior government representatives and international experts from the World Bank Group discussed with Jordanian public and private sector representatives the importance of investment climate reforms at a crucial time for Jordan.
This initiative is part of IFC’s advisory services that aim to boost the investment climate in Jordan and build the JIC’s Investment promotion capacity. The initiative is supported by the Middle East and North Africa Transition Fund and the Government of Austria
About the World Bank Group
The World Bank Group is one of the world's largest sources of funding and knowledge for developing countries. It comprises five closely associated institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which together form the World Bank; the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). Each institution plays a distinct role in the mission to fight poverty and improve living standards for people in the developing world. For more information, please visit
www.worldbank.org
,
www.miga.org
, and
www.ifc.org
.
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