Khaberni - The Saudi Cabinet approved in its session held yesterday the memorandum of understanding signed between the Jordanian Ministry of Investment and the Saudi Authority for Special Economic Zones and Cities for cooperation in their respective fields.
The signing of the memorandum of understanding between the two brotherly countries opens new horizons for the exchange of technical and regulatory expertise in the development of economic zones, and enhances the competitiveness of these areas through innovation, investment stimulation, and modern infrastructure, which contributes to creating new job opportunities and improving the investment environment.
The Jordanian and Saudi governments signed in October last year the amended annex to the agreement on encouragement and protection of mutual investments between the two countries, along with the memorandum of understanding, on the sidelines of the Future Investment Initiative (FII9) conference in Riyadh.
Saudi investments in Jordan have seen significant growth in recent years, with a growth rate of 5.6% over the past four years.
Saudi investments represent about 7% of the total direct foreign investments in Jordan, and these figures reflect the volume of investments and also confirm the depth of mutual trust and the established economic and investment relations between Jordan and Saudi Arabia.
It should be noted that the Jordanian Economic Modernization Vision and the "Kingdom 2030" Vision converge in clear goals and measurable targets, and together they form a common compass for progress and success.
The Ministry of Investment is working in coordination with the related entities on the Saudi side to implement and monitor these agreements through a joint action plan that includes specific projects in the sectors of energy, transport, logistics, tourism, and advanced technologies.
The agreements signed between the two countries reflect an integrated economic future between the two brotherly nations, based on trust, commitment, and mutual respect, andaim to achieve prosperity and well-being for the Jordanian and Saudi peoples.
