Invest in Jordan
Among the reasons that make Jordan an attractive location for Singaporean investments are:
- Conducive bilateral legal framework:
Jordan and Singapore concluded a Free Trade Agreement and Bilateral Investment Treaty in 2004. Furthermore, Jordan and Singapore are currently undergoing negotiations to sign an avoidance of Double Taxation Agreement which has already been signed in first initials and will hopefully be concluded in 2020.
- A Gateway to the World
Jordan’s strategic location at the crossroads between Europe, Asia and Africa combined with its extensive free trade and bilateral agreements with other countries give foreign investors access to over one billion consumers.
Jordan has free trade and association agreements with the United States, Canada, the European Union and other Arab countries. Investing in Jordan gives access to the Middle East and GCC and the Arab Region.
Port of Aqaba
- Stability and Security
Jordan enjoys a high level of stability and security, and as a result continues to attract foreign investors. According to the Gallup Law and Order Study of 2018, Jordan is ranked as the 22nd most secure country in the world and the second safest in the Arab world.
- Strong Banking and Financial Institutions
There is a comprehensive legal framework in Jordan that guarantees confidence in banking and financial transactions in the country. It also ensures transparency, adherence to international monetary standards and protection of capital.
The banking sector in Jordan is well developed by regional standards. There are 23 banks in Jordan, 16 Jordanian banks and 9 foreign Banks.
- Ease of Doing Business
Jordan is currently ranked 75 out of 190 economies in the World Bank’s Doing Business Report. Jordan’s ranking has jumped 29 places in 2020, and it was selected among the top reformers. Jordan ranks fourth, on par with Australia and the United States in the Doing Business category related to the ease of getting credit.
- Investor Friendly Environment
Jordan’s laws and regulations relating to foreign investment provide the following privileges and guarantees, inter alia:
– No restrictions on foreign ownership except in a limited number of economic activities.
– Foreign investors may wholly own investments in Development Zones and Free Zones.
– National treatment, free movement of capital, protection against expropriation and options to resort to alternative dispute settlement mechanisms.
– Equal treatment to both Jordanian and non-Jordanian investors.
– No restrictions on the transfer of capital, revenues and profits abroad.
– No restrictions on the transfer of salaries and compensations abroad by foreign workers.
- Special Economic Zones:
Jordan has established two types of special economic zones in various regions of the country: Development Zones and Free Zones. These zones are dedicated to various fields of business and industries and are equipped with all the needs of investors from infrastructure to services. Investing in these zones provides exemptions from customs duties, income tax, sales tax on goods and services offered and consumed within the zones, and export tax.
- Developed ICT
Jordan is the regional hub and leader in ICT, with a steady inflow of 5000 to 6000 ICT graduates from universities annually joining the labor force. Jordan produces 75% of the Arabic internet.