Jordan, Singapore strengthen economic ties in renewable energy and infrastructure

The Ministry of Investment facilitated an important meeting between Singaporean business leaders specialising in infrastructure, water management, energy, engineering consulting, integrated design, project management and construction with representatives from relevant Jordanian government agencies and private sector companies.

The meeting is a continuation of earlier discussions that His Royal Highness Crown Prince Al Hussein bin Abdullah II held during his visit to Singapore earlier this year, according to a ministry statement released on Sunday.

Minister of Investment Kholoud Saqqaf highlighted the strong political and economic ties between Jordan and Singapore as she welcomed the visit of a Singaporean delegation aimed at strengthening the economic partnership between the two nations.

In line with the royal directives, Saqqaf emphasized Jordan’s implementation of economic reforms aimed at improving the business environment, in line with the Economic Modernization Vision 2033. These reforms include changes in investment regulations and legislation, as well as macroeconomic, monetary and financial policies, aimed at sustaining Jordan’s economic development. Saqqaf also emphasized the strategic importance of leveraging free trade and investment agreements signed with Arab and foreign countries to expand export opportunities.

Providing an overview of Jordan’s investment climate, Saqqaf detailed the incentives and benefits set out in the Investment Environment Law and its regulations, aimed at supporting new projects and expanding existing ones. These measures aim to increase economic competitiveness and attract investment to the Kingdom.

Saqqaf expressed optimism over increased Singaporean investment in Jordan, calling for closer cooperation between Jordanian and Singaporean economic and investment institutions and an increase in visits between business leaders and private sector representatives.

The Singapore delegation underlined the strong bilateral relations between the two countries and their commitment to strengthening cooperation with Jordan, aimed at elevating relations to a higher level in the interests of mutual interests, especially in the economic and investment sectors.

The Ministry of Investment, as a follow-up to Crown Prince Al Hussein’s meetings in Singapore, maintained virtual communication with investors met during the visit. Earlier in April, the Ministry also hosted a Singaporean delegation specializing in the energy sector, presenting investment opportunities and key benefits and incentives under Jordanian law. Bilateral meetings were held with relevant government agencies and specialized companies from the Jordanian private sector.

The meeting highlighted Jordan’s proactive approach to attracting foreign investments and strengthening economic ties with strategic partners such as Singapore in order to support sustainable economic growth and development in the Kingdom.

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