The "London Initiative" to Support Jordan will be Held Tomorrow with The Participation of The 7 Major Countries

27-Feb-2019

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.  









Newsletter

Amman Chamber Location

Zahran Street - Jabal Amman - Amman - Jordan
Phone Number: 0096264643001
Mobile: 00962795202164
Fax: +96264647852
Email: aci@aci.org.jo
P.O.Box.: 1800 Amman 11118 Jordan

All Branches