27-Feb-2019
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The London 2019 conference will start with "growth and
opportunities" in the United Kingdom, in a move aimed at mobilizing
support for Jordan by donor countries and international investors, such as
contributing to its "self-reliance" and sustainable economic growth.
The conference comes
with the participation of the seven major donors, Jordan, as well as leading
international institutions in the field of finance and investment.
During the conference, a multi-donor trust fund will be
launched to implement a matrix of economic transformation reforms for the next
five years (2018-2022), prepared in cooperation with the World Bank.
The establishment of an institution specializing in the
development of strategic projects.
Four sectors in Jordan will have a comparative advantage in
the Middle East: tourism, technology, logistics and professional services.
The conference focuses
on four key interrelated objectives.
The first is "strong and realistic measures and reforms
to stimulate growth"; the path to economic growth requires deep economic
reform to promote exports and foreign direct investment, promote business
diversification and innovation, create jobs and improve the business climate.
Jordan is in the process of enacting and implementing new
laws to meet the challenges faced by the private sector.
In addition, it is planning reforms to reduce energy costs,
facilitate access to high-skilled labour and increase women's participation in
the labour force.
Jordan has developed and launched a five-year reform and
growth matrix to give priority to comprehensive measures to promote a strong
start to the economy and job creation.
This will be in line with IMF measures to maintain
macroeconomic stability, and Jordan will demonstrate its commitments and
progress.
The London conference is expected to achieve the launch of a
multi-donor trust fund to implement the
5-year reform and
growth matrix, showing reforms implemented and increasing opportunities for
women and young people.
In the second objective, "Financing for Growth: Debt
Sustainability and International Support to Achieve this," the document
noted that Jordan's ability to move to a more productive, diversified and
competitive export economy depends primarily on "freeing the fiscal
space" by reducing interest costs, Predictability of funding.
The London Initiative will focus on launching a strong
financing and debt management strategy, linking concessional financing to
concrete implementation of comprehensive reform plans, and developing
strategies to mobilize concessional financing on a large scale through grants,
guarantees and loans. The third objective is the "economic environment for
the development and financing of bankable projects"; it has been noted
that significant new public and private investments are needed to promote
economic growth and employment and to expand the infrastructure that has been
burdened with transport, energy, water, Hospitals) because of the large
population increase, with the necessary support for private sector expansion,
diversification of the economy and job creation.
The conference will help to provide a new line of financing
and priority opportunities, and a new structure for priority projects that will
be developed and funded will be launched in a way that enhances growth
opportunities.
The conference will announce the establishment of an
institution specialized in the development, prioritization and financing of
strategic projects. PPPs. According to the document, capital will be raised to
provide financial returns and boost economic development, as well as to provide
a large number of infrastructure projects with many financing opportunities
(PPPs).
The fourth objective of the conference is to achieve
"corporate-led growth and attract investment in key areas."
The document said the conference will bring together senior
and private sector leaders from Jordan to promote business opportunities
serving the country and the Middle East and North Africa (MENA) region.
Meeting with
international companies to benefit from Jordan to expand its business in the
region will highlight the unique competitive advantages Jordan offers to
businesses, boosted by Jordan's reforms and targeted developments.
During the conference, a dialogue will be opened between
companies, investors and the government on new investment opportunities, taking
advantage of private sector expertise to realize potential in competitive
sectors and offering investment opportunities ready for investment.
Governorates of the Kingdom are taking part in the London
2019 initiative, held to support the economy and investment in the Kingdom.
The Crown Prince Foundation said in a statement that the
role of young people is to participate in various sessions of the conference,
and to transfer the most important priorities of young people that enhance
their economic participation and presentation at the table of decision-makers
in the world, as well as focus on the pillars of the position paper prepared by
the Foundation to identify the needs And the aspirations of Jordanian youth.
The youth will participate in the opening session, the
closing session, the IT session, the tourism session and the session on
emerging sectors and services.
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