Pakistani investors can explore opportunities in Jordan
Pakistan Times Business & Commerce Desk

KARACHI: Pakistani investors can explore numerous investment opportunities being provided by Jordanian government in Qualified Investment Zones located throughout the Jordan to serve the foreign investors needs.

This was stated by Jordanian Deputy Minister and Secretary General of Industry and Trade, Montaser Okla, at a presentation for Pakistani businessmen held at a local hotel here hursday. The invitees included members from KCCI, FPCCI and other trade and business organizations.

The Jordanian delegation is in Karachi in connection with EXPO 2005.

Montaser said that Pakistani investors could avail the business- friendly climate and incentives being provided to foreign investors by Jordanian government.

He informed that at this level the total trade between Pakistan and Jordan stands at around $ 2.8 million which can be increased manifold if traders of both the countries recognize each others needs in free-trade regime.

The delegation has also met the government officials as well as the industrialists to explore economic relations and cooperation prospects between Pakistan and Jordan.

The Jordanian Minister expressed the hope that their visit to Pakistan would be highly beneficial for business communities of Jordan and Pakistan. This visit would help identify the areas of further cooperation between the two countries.

He informed that out of Jordan’s total annual import of around five billion dollars, Pakistan’s share stands at around $ 2.1 million, which can be increased substantially by exploring. what he described, enormous opportunities in Jordanian markets.

Pakistan exports Textile yarn and fabrics, surgical instruments, rice, pharmaceutical products, vegetable and fruits to Jordan, while it imports Phosphoric Acid, Ferrous Hydroxide, Phosphoric fertilizer, cloza seeds etc.

Montaser Okla told the Pakistani business people that Jordan’s privatization program is one of the most successful in the region. Around 60 privatization transactions have successfully been carried out in Jordan lately, he asaid.

Speaking on the occasion, honorary Consul General of Jordan Farrukh Qaiser said that Pakistani investors have invested around $ 43 million in setting up different projects in Jordan mainly in garments and apparel manufacturing, Food Industry, Farms and Plastic and Industrial Equipment.

They are enjoying the Investment Promotion Law Incentives being given by the Jordanian Government to foreign investors, he pointed out.

He said that five Qualified Investment Zones located throughout Jordan serve the foreign investors needs.

Talking about the incentives being provided to foreign and local investors, he said that projects are exempted from income & social services taxes by 25 per cent, 50pc, or 75pc for a ten year period, depending on the location and sector of the project.

Farrukh Qaisar said that both sides are continuing their efforts for developing cooperation in the fields of agriculture, tele-communication, science and technology and civil aviation.

He said that Pakistani investors and traders could benefit from the Jordanian government’s initiatives for boosting the trade and investment tie with Pakistan.●