Minister of Investment Kholoud Al-Saqqaf and Minister of Planning and International Cooperation Zeina Toukan stressed the importance of the two memoranda of understanding that were signed in the investment and development fields during the visit of His Majesty King Abdullah II to the United Arab Emirates, yesterday, and their positive impact on enhancing the prospects for cooperation in the investment and development fields between the two countries. Worth $5 billion, the two ministers said the two MoU identify investment opportunities and aim at expanding the horizons of cooperation and contributing to achieving sustainable development and prosperity in the two brotherly countries. The MoUs include areas of investment between the two countries, including a memorandum between Abu Dhabi Developmental Holding Company and the Jordan Investment Fund, in addition to another memorandum regarding a UAE government grant worth $400 million to finance development projects in Jordan. The MoUs were signed by the UAE Minister of Investment, Mohammed Hassan Al Suwaidi, and Touqan. The first one, which was signed between the Jordanian Ministry of Investment and the UAE Ministry of Investment, aimed to encourage and facilitate cooperation in areas that include investment in infrastructure and development projects in the Kingdom, in addition to exchanging expertise and cooperation in the investment field. The second memorandum was signed between the Jordan Investment Fund and Abu Dhabi Developmental Holding Company to establish an investment fund in Jordan, in accordance with the Jordanian Investment Fund Law for the purposes of investing in a number of infrastructure and development projects worth more than $5.5 billion. The projects that will be implemented accroding to the MoU include education sector, digitization sector, energy sector and tourism sector.

Source: Jordan News Agency