The Prime Minister noted that the government is finalizing the legislative system aimed at empowering the private sector and supporting investment within the framework of hypotheses of the economic modernization vision, which requires a financing base of up to JD41 billion over ten years, at the rate of JD1.5 billion annually in foreign investments and JD2.5 billion in local investments, in addition to the government allocations from the general budget. He underlined that the economic modernization vision is a very ambitious plan, and that its objectives require a lot of efforts, especially in light of the uncertainty that dominates the global economy and the very high demand on international financing windows and tools as a result of the current international crises, the continued vulnerability to the repercussions of the Covid-19 crisis and the imbalance in the supply chains resulting from the Russian-Ukrainian crisis. He explained that the economic modernization vision and the public sector modernization map are complementary to the political modernization project, which we are moving towards the first practical part of it with the parliamentary elections next year. “Today we are moving towards recovery, and we have completed, in cooperation with the private sector, some legislations such as the investment environment law and we hope to complete the public private sector partnership law during the parliament’s current extraordinary session in terms of eliminating bureaucracy and accelerating the implementation of partnership projects without compromising the rules of governance,” Khasawneh added. “Thanks to the partnership with the private sector, we have overcome many crises and moved to the economic recovery stage, where the economic growth rate reached 2.8 per cent during the past months, which is a better figure than last year, and exports increased by 22 per cent, just as tourism income jumped by 110 per cent compared to the same period last year,” Khasawneh noted. He pointed out that these achievements were realized thanks to government policies that contributed to raising the competitiveness of the various sectors, especially the industrial sector, through structural interventions, including the re-pricing electric energy prices for the purposes of directing the savings achieved to support the economic sectors in order to raise their competitiveness.

Source: Jordan News Agency