a day ago
Investment minister, Uzbek delegation discuss cooperation
Ammon News - Minister of Investment Tariq Abu Ghazaleh on Monday held talks with a ministerial delegation from the Republic of Uzbekistan, headed by Minister of Investment, Industry and Trade Laziz Kudratov, on enhancing relations and advancing economic and investment cooperation.
Abu Ghazaleh underscored Jordan's pride in its ties with Uzbekistan, highlighting the untapped potential for collaboration in priority sectors, including information technology, tourism, healthcare, pharmaceuticals, mining, textiles, and public-private partnership projects.
He detailed that trade exchange between the two countries amounted to $6.9 million in 2024, with Jordan exporting pharmaceuticals, machinery, and chemical products, and importing copper, fruits, nuts, and cocoa products. He noted both sides' aspiration to substantially increase this trade volume in the coming years.
The minister pointed out that Jordan and Uzbekistan signed an economic and trade cooperation agreement in 1996, while negotiations on a bilateral investment promotion and protection agreement are nearing completion. He also presented Jordan's Economic Modernization Vision, which targets attracting over JD41 billion in investments, supported by pro-investment legislation, particularly the 2022 Investment Environment Law, ensuring equal treatment for investors, safeguarding their rights, and offering incentives for projects with high employment, export capacity, and innovation.
Abu Ghazaleh stressed that Jordan's economic resilience stems from structural reforms, including the establishment of the Ministry of Investment as the central body for investor services. He invited Uzbek companies to leverage Jordan's strategic location, extensive network of free trade agreements, and investment prospects in sectors such as water desalination, transportation, education, and the digital economy.
He further emphasized Jordan's role as a regional logistical and industrial hub for reconstruction efforts, advocating for partnerships that generate sustainable benefits for both nations.
