The Investment Environment Law No. (21) of 2022 was issued in mid-November 2022, and entered into force as of mid-January 2023. The law included many improvements and benefits aimed at developing the investment environment in Jordan and improving its attractiveness and competitiveness. The law provides incentives, exemptions, and benefits for investors within specific principles and requirements. It also granted a number of additional incentives according to specific criteria.
For example, the law, within the chapter on public policies for investment and investors’ rights, grants many advantages to investors, foremost of which is the investor’s right to own property in an economic activity with the exception of specific sectors, which are included in the system for regulating investments for non-Jordanians and allowing non-Jordanian workers to be recruited in specific administrative positions within conditions and specific numbers as well as empowering investors with the ability to control currency transfer in convertible currencies inside and outside the Kingdom without delay in accordance with international financial practices and legislation in force.
The law also guarantees equality between the Jordanian and foreign investor in rights, privileges and duties, and treats all investors in a fair and transparent manner, in addition to protecting investments and no interference in the legally recognized activities, rights and interests of the investor or the company in which the investment was made, in addition to digitizing and automating all procedures and services provided to investors.
According to the investment environment regulation law, the ministry provides a comprehensive investment service for licensing economic activities through a joint electronic platform with the authorities responsible for registration and licensing.