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EMV’s Q1 Report Highlights Investment Progress and Challenges

The first-quarter report of the 2023-2025 Executive Program of the Economic Modernization Vision (EMV) detailed achievements in the investment sector and highlighted challenges encountered in Q1 of 2024. The report noted the completion of the third phase of the electronic services automation project, streamlining processes within the Ministry of Investment and its partners, including Jordan Customs, the Income and Sales Tax Department, and the Civil Defense Directorate. It also mentioned the automation of investment fund registration services. Updates on the invest.Jo platform included the launch of six new investment opportunities in tourism and food industries, projecting a $58.43 million investment influx. Databases on Invest.jo were also updated with economic indicators, international reports, and legislative information. Challenges included delays in contracting specialized companies for investment promotion in targeted markets. Efforts to address this included procurement procedures with the USAID Ec onomic Reform Activity (ERA) and discussions with International Development Ireland (IDI), an Irish investment promotion company, to enhance foreign investment attraction and workforce efficiency. Source: Jordan News Agency