Jordan Daily – The International Finance Corporation (IFC), the investment arm of the World Bank, has chosen Amman as its regional headquarters. The move is seen as a vote of confidence in Jordan’s economy and political stability.
Former Finance Minister Dr. Mohammad Abu Hammour said the IFC’s decision would bring a number of benefits to Jordan, including: increasing investment opportunities , creating more jobs , improving access to finance and enhancing Jordan’s reputation as an attractive investment destination.
He highlighted in televised interview that Jordan enjoys both political and economic stability, supported by a stable rating from the international rating agencies . This stability has attracted investments and improved the investment environment. The International Monetary Fund’s praise for the government’s monetary policies further adds to Jordan’s appeal as an attractive investment destination.
Abu Hammour also acknowledged the challenges Jordan faces, such as poverty, unemployment, budget deficit , and high indebtedness. He emphasized the importance of the partnership between the public and private sectors as a means to tackle these challenges.
The former minister stressed the need for improvement in the investment climate. While Jordan possesses favorable economic policies, greater emphasis is required on the practical application, follow-up, and accountability of these measures.
To attract more investors, bureaucratic procedures need streamlining to create a smoother and more efficient process for businesses. Administrative modernization, a key aspect advocated by King Abdullah II, is not only necessary for economic reform but also for enhancing investor confidence, Abu Hammour noted.
