Jordan and Singapore Strengthen Economic Ties
The Jordanian Ministry of Investment recently facilitated a meeting between Singaporean business leaders and representatives from Jordan’s government and private sector. This gathering comes on the heels of Crown Prince Hussein bin Abdullah’s visit to Singapore in January, signaling a commitment to enhancing economic cooperation between the two nations.
The Singaporean delegation comprised professionals from various sectors, including infrastructure, water, energy, engineering consulting, integrated design, project management, and construction. The meeting provided a platform for fruitful discussions on potential collaborations and investment opportunities.
Investment Minister Kholoud Saqqaf commended the longstanding political and economic relations between Jordan and Singapore. She expressed appreciation for the delegation’s visit and highlighted Jordan’s efforts to improve its business environment in line with the Economic Modernization Vision 2033. These efforts have involved significant reforms in investment-related laws, legislation, as well as macroeconomic, monetary, and financial policies.
During the meeting, Minister Saqqaf underscored the strategic importance of free trade agreements and investment accords with both Arab and foreign countries. These agreements play a crucial role in facilitating access to new export markets and fostering economic growth. She also provided an overview of Jordan’s investment landscape, outlining the incentives and benefits available under the Investment Environment Law and its regulations. These measures aim to stimulate the creation of new projects and enhance the competitiveness of Jordan’s economy.
The Singaporean delegation reaffirmed the strong bilateral relations between their country and Jordan. They expressed a commitment to deepening ties and exploring opportunities for collaboration in various sectors. The Ministry of Investment has been proactive in maintaining communication with the Singaporean investment delegation following the crown prince’s visit earlier this year.
This meeting is not the first instance of collaboration between Jordan and Singapore in the economic sphere. In April, the ministry hosted a delegation from Singapore specializing in the energy sector. This gathering showcased the investment opportunities available in Jordan’s energy industry and laid the groundwork for potential partnerships.
The engagement between Jordan and Singapore reflects a shared commitment to fostering economic growth, innovation, and sustainable development. By leveraging each other’s strengths and expertise, both countries stand to benefit from increased trade, investment, and knowledge exchange.
As Jordan continues to implement economic reforms and enhance its business climate, partnerships with countries like Singapore play a crucial role in driving growth and prosperity. The meeting between Singaporean business leaders and Jordanian officials serves as a testament to the potential for fruitful collaboration and mutual benefit.
Moving forward, both nations are poised to explore new avenues of cooperation across various sectors, paving the way for a stronger and more dynamic economic partnership. The exchange of ideas, expertise, and resources will undoubtedly contribute to the continued growth and development of Jordan’s economy, while also strengthening ties between the two countries.