Jordan ‘important’ economic gateway, offers ‘lucrative’ investment climate-Kuwait envoy

Kuwait’s Ambassador to Jordan, Aziz Dihani, said Jordan is an “important” gateway to Arab countries, adding that Kuwaiti businesspeople are seeking to establish projects in the Kingdom scheduled to be announced soon.

Addressing a working meeting with Jordanian Businessmen Association (JBA) on Saturday, Dihani said Jordan’s investment climate is “lucrative,” noting that the Kingdom’s new law regulating the investment environment affirms keenness to stimulate and expand investment.

The envoy also lauded Kuwaiti-Jordanian relations as “pioneering and advanced” and enjoy interest and keenness of the two countries’ leaderships, reflected in inking more than 73 economic agreements and launching joint projects.

For his part, JBA President, Hamdi Al-Tabbaa said Jordanian-Kuwaiti economic relations are “deep-rooted and longstanding,” pointing to joint trade and investment agreements, primarily deals aimed to prevent double taxation and protect mutual investments, which were signed by the two countries since 2001.

Kuwait is a “key” trading partner to Jordan, as the volume of its investments in the Kingdom amounted to about $18 billion, while the volume of trade exchange until end of last August amounted to JD141 million dinars, Al-Tabaa said.

In addition, he stressed the importance of the private sector’s role in both countries and their endeavor to build partnerships on various levels.

He also noted availability of multiple “untapped” opportunities as required, in commercial and investment levels, especially in foodstuff industries, food security projects, pharmaceutical production, medical tourism and chemical industries.

The meeting went over a number of issues of interest to the business community and ways to enhance joint cooperation prospects, according to a JBA statement.

Source: Jordan News Agency