Jordan Investment Board
General Information
Introduction
Jordan Investment Board Profile
Jordan Investment Board (JIB) was established under the Investment Promotion Law No. (16) for the year 1995. JIB launched its services as a financially and administratively independent entity since 1/1/1996. Before that, it was a department in the Ministry of Industry and Trade. The objective of JIB since inception has been to support the national economy through focusing most of its activities on investment. Such focused endeavor is translated into dedicated efforts that start with depicting a good image of Jordan in general, attracting and soliciting local, Arab, and international investments to Jordan; through to facilitating and simplifying licensing procedures for such investment projects and providing them with all facilities, incentives, and exemptions as approved by applicable laws and regulations. Such facilities include the issuance of investors' cards, resident and visit permissions for investors. Investment is one of the four major economic pillars: saving, consumption, production, and investment. It is the main locomotive to drive the wheel of economic growth. Therefore, the role of JIB, by the nature of its function, has a direct impact on the promotion and growth of the national economy. The duties of JIB in accordance with the law are:
1. Enhance confidence in the investment environment.
2. Develop plans and programs to promote local and foreign investment and implement such plans and programs inside and outside Jordan.
3. Conduct any required study or survey in connection with locally and internationally targeted investments in order to identify and promote investment opportunities in Jordan.
4. Establish the one-stop service to assist the investor in the registration and licensing of his investment, and obtain the necessary approvals from the other government agencies in accordance with the applicable legislations.
5. Provide information and data to investors and issue relevant guidebooks.
Since concentration on promotional activities to attract investors is a priority to achieve sustained economic growth, promotional duties are directed towards potential investors to attract them to invest in the economic sectors with relative advantage and high competitiveness for Jordan, and which achieve high added value that positively impacts the economic growth rates. Such growth has to be distributed to all economic sectors to give the citizens a sense of the economic growth achieved and improved living standards.
As for human resources, JIB employs (73) male and female employees: (16) employees in the Studies and Research Department, (11) in the Promotion Department, (11) in the Facilitations and Services Department, (21) in the Administration and Finance Department, (1) in the Internal Audit, (6) in the One-Stop-Shop, (2) in the Airport Office, (4) in the Executive Manager's office, and (1) employee in Al-Zarqa Office. The law allows JIB to establish branches in or outside Jordan.
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