Investment Environment Law
The Investment Environement law No. 21 of 2022 entered into force, which aims to provide a supportive environment for existing investments, in addition of creating attractive conditions for investment, in line with the vision of economic modernization.
The main features of the new law refer that both local and foreign investors are equal, freedom of capital transfer, guarantees and incentives related to the added value investments (economic growth, job creation, export, transfer of knowledge and technology), as well as digitization and automation of procedures and services to overcome administrative and procedural obstacles in order to encourage investment in strategic and entrepreneurial projects, innovation, research and development, and create an environment appropriate for the development of small and medium enterprises.
The industrial sector has a great importance according to the new law in order to attract more industrial investments, whose will be reflect positively on the Jordanian economy, as the law defines the advantages of investment in development zones and free zones and the exemptions they enjoy. The law also deals with the issue of settling investment contract disputes through arbitration according to agreed rules, In addition to the formation of investment committees to consider investor grievances , validation of the procedures, formalities and any decisions issued by the official authorities.
Please click on the link to view the investment law
The Investment Environment Law No. 21 for the Year 2022