KUWAIT INVESTMENTS IN JORDAN AT AROUND USD 12 BLN — JIC CHAIRMAN

AMMAN, Nov 21 (NNN-KUNA) — Kuwait is one of Jordan’s major economic partners with around USD 12 billion being invested by the Gulf state in the country, said Chairman of the Jordan Investment Commission (JIC) Dr. Montaser Oklah here Saturday.

In an exclusive interview with KUNA, Dr. Oklah said that the current level of Kuwaiti investments were covered by the Jordanian investments law, adding that there are other ventures by Kuwaitis which are still to be registered under this umbrella.

There are a number of factors contributing to the increasing number of investors in the country, said the Jordanian official, noting that in the case of Kuwait, the strong relations linking the two countries played a crucial role in luring Kuwaiti investors to the country.

Dr. Oklah said that Kuwait Fund for Arabic Economic Development (KFAED) also played a major role in Jordan’s development, noting that loans from the fund had reached around USD 1.85 billion covering a vast majority of projects.

Regarding investment opportunities in Jordan, Dr. Oklah said that his country had launched, through the World Economic Forum, a number of investment opportunities worth USD 30 billion to help attract investors.

Jordan had also issued a new investments law which categorized development regions in the country, said Oklah, adding that recently Jordan had attracted Egyptian investments within real estate to help develop the Dead Sea region.

He affirmed that Jordan was eager to seek more Arab, foreign investments by next year, noting that his country’s investments goal was to reach USD three billion annually, as oppose to USD two billion in 2012 and 2014.

He noted that the new investment law will also provide an electronic gate for investors to register their licenses online, adding that the Jordanian authorities were keen on finding means to overcome obstacles facing Arab and foreign investors in the country. — NNN-KUNA