Insight into the New Jordanian Investment Law

Analysis

Recently, during the World Economic Forum on Middle East and North Africa, held in Jordan, Prime Minister Abdullah Ensour made a presentation regarding the new Jordanian Investment Law Number 30 for the Year 2014 (the “Law”).

This Law supports the government of Jordan's goal of striving to lead the economy to stability and attract foreign investors. This will be achieved through developing its laws and systems to enable Jordan to meet global market standards. 

The Law improves and develops on previous initiatives, and retains certain benefits that were already granted to investors. 

Key Areas that Remain Unchanged 

Powers of Council of Ministers

The Law empowers the Council of Ministers with the right to grant any project (economic activity) falling within any exempted sectors, such as energy, ICT-BPO and tourism, additional exemptions, privileges and incentives based on the location of the project. 

Non-Jordanian same as Jordanian 

There is a reaffirmation, as in previous initiatives, that Non-Jordanian investors shall be treated like Jordanian investors. 

Key Areas Addressed in the Law

Economic Activities