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Nasr, Jordanian counterpart agree on formation of investment coordination council - Daily News Egypt

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Nasr, Jordanian counterpart agree on formation of investment coordination council

Jordanian investments in Egypt exceeded $500m

Minister of Investment and International Cooperation Sahar Nasr met with her Jordanian counterpart, Muhannad Shehadeh, during meetings of the joint Egyptian-Jordanian Higher Committee in Amman, where they reached an agreement to establish an investment coordination council between the two countries.

The proposed council aims to develop and deepen the strategic relations between the two countries, as well as consult and coordinate on the exchange of investment opportunities in the joint investment projects.

Moreover, the proposed investment coordination council is planned to include investors in various fields, such as agriculture, industry, and services, with meetings to be held alternately in the two countries.

The Egyptian market is considered one of the most important markets for Jordan, as it is the largest market in the region and can be a gateway to the African market through joint investments, said Shehadeh, adding that Jordan wants to benefit from Egypt’s experience in the area of investment promotion.

The two parties agreed to organise training courses and visits to exchange experiences between the staff of the ministries of investment in the two countries.

Furthermore, Nasr met with Jordanian investors and members of the joint business council, who expressed their desire to expand their activities in Egypt and pump new investments in order to increase direct Jordanian investments in Egypt to exceed the current $500m.

Positive development of Jordanian-Egyptian cooperation in many important areas was witnessed, indicating a marked increase in the balances of the mutual investment and joint ventures, as Jordan is ranked 23rd among the countries investing in Egypt, said Nasr

Nasr called on the Jordanian investors to increase their investments in Egypt, as the volume of Jordanian investments in Egypt currently stands at $500m in contributions of more than 1,704 companies working in important sectors, such as industry, services, finance, tourism, construction, communications, information technology, and agriculture.

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