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Saturday, July 13, 2024

UAE and Jordan Strengthen Investment Ties with $2 Billion Agreement

The President, His Highness Sheikh Mohamed bin Zayed Al Nahyan, and King Abdullah of Jordan attended an MOU exchange ceremony at Qasr Al Watan. The UAE Minister of Investment, Mohamed Hassan Al Suwaidi, and Jordan’s Ministry of Planning and International Cooperation representative, Zina Zeed Rashad Touqan, signed the agreement.

The Ministries of Investment in the UAE and Jordan have signed an MOU to foster investment collaboration in infrastructure and development projects, fortifying their enduring strategic partnership. The UAE Ministry of Investment has identified potential opportunities exceeding $2 billion in Jordan.

This agreement was inked by UAE’s Minister of Investment, Mohamed Hassan Alsuwaidi, and Jordan’s Minister of Planning and International Cooperation, Zeina Toukan.

Abu Dhabi-based ADQ announced a strategic partnership with the Jordan Investment Fund to create a joint investment fund, signaling their commitment to sustainable development initiatives in Jordan and the region. They aim to enhance infrastructure development, boost export industries, and promote innovation for sustainable economic impact.

Alsuwaidi stated, “This agreement reflects our desire to promote cooperation and investment in Jordan, demonstrating the depth of the strategic relations between the UAE and Jordan.”

Toukan added, “It signifies our mutual commitment to enhancing our countries’ economic landscapes and paving the way for innovation and growth.”

The MOU between the Ministries paves the way for bilateral investments in renewable energy, industrial projects, manufacturing, transport, pharmaceuticals, and food processing, aiming to enhance both nations’ GDP.

Both ministries will collaborate with government agencies, regulatory authorities, and private-sector enterprises in their respective countries.

This event marks a significant step towards realizing the full potential of both countries and contributing to the economic growth of the region.

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