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Jordanian cabinet approves establishment of Egypt- Jordan coordination council for investment cooperation

The Jordanian cabinet approved a  memorandum of understanding with Egypt to establish a coordination council for promoting investment.

The council will comprise investors of both countries to enhance bilateral cooperation in various investment scores, the Jordanian government spokesman said at a press conference on Monday.

Mohammad Al-Momani said Jordanian Prime Minister Hani Al-Mulki raised during his recent visit to Egypt a number of issues, topped by forming a panel for facilitating investment measures.

The agreement was signed between Egyptian Minister of Investment and International Cooperation Dr. Sahar Nasr and Jordanian Minister of State for Investment Affairs and Chairman of Jordan Investment Commission (JIC). Muhannad Shehadeh to enhance bilateral investment relations and develop mutual cooperation between the two countries.

During the inking ceremony several days ago, Dr. Nasr indicated that the council would serve as an economic aggregate including a group of investors and the business community in Egypt and Jordan to enhance relations in various investment areas. Such investors would be selected by the Ministry of Investment and International Cooperation and JIC, stated Dr. Nasr, noting that the agreement provided for exchanging information related to investment policies and legislations, improving the investment climate, proposing investment opportunities available in both countries, holding sectoral meetings to boost investment in such sectors, organizing conferences and forums related to investment in both countries, considering the establishment of joint ventures, and working on overcoming an obstacles hindering the growth of investments.

On his part, Shehadeh pointed out that both countries would establish a joint task force to develop a work plan for supporting and activating investment cooperation aspects with a view to developing bilateral relations on the investment and business area, provided that meetings such task force will be held alternately between both countries. 

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