12/7/2023
The Jordanian-Japanese Business Forum, organized by the Jordan Strategy Forum (JSF) in cooperation with the Japan External Trade Organization (JETRO), kicked off Wednesday to explore economic opportunities in the Kingdom, especially in promising sectors incorporated in the economic modernization scheme, and prospects for investment cooperation between the two countries.
The opening ceremony was attended on the Jordanian side by Ministers of Energy and Mineral Resources Saleh Kharabsheh, Digital Economy and Entrepreneurship Ahmad Hanandeh, Planning and International Cooperation Zeina Touqan and Investment, Kholoud Saqqaf.
Present on the Japanese side were State Minister of Economy, Trade and Industry Nakatani Shinichi, JETRO Executive Vice President Mitsuhito Sendai, Japanese ambassador to Jordan Jiro Okuyama and other officials.
"The forum is a milestone in the history of economic relations and cooperation between Jordan and Japan, and a crowning achievement of a solid 70-year friendship, in which to explore new opportunities to take relations to advanced levels, particularly in tourism, infrastructure, energy, technology and education, and build on the success stories achieved in these areas," JSF President Sharif Fares Sharaf said in opening remarks.
Sharaf noted the efforts of the organizers for "this exceptional event in terms of the number and level of representation and participants from the business community in both countries, urging Jordanian businessmen to engage in scheduled meetings with their Japanese counterparts to explore investment prospets leading to joint ventures.
Sharaf hailed cooperation and support by Jordanian institutions for the forum, namely the Crown Prince Foundation, the Jordanian Businessmen Association, Jordan and Amman Chambers of Industry, Jordan and Amman Chambers of Commerce, Information and Communications Technology Association of Jordan (int@j) and the Edamah Association.
He also thanked sponsors and commended the efforts of the public and private sectors, which culminated in hosting about 50 businessmen representing leading Japanese companies in sectors that are a priority to promote growth in Jordan.
For his part, Nakatani stressed the importance of Jordan's economic modernization scheme and the projects it envisions that open the country for foreign investment and bolster development and relations with Japan.
The Japanese minister said the forum is an opportunity to discover opportunities in Jordan as it opens the way for more Japanese economic activities and increases cooperation in various fields, especially investment and trade.
He said the Japanese side has "important" plans to enhance the participation of Japanese companies in many emerging ventures, expressing hope that the forum would better familiarize with industrial and service sectors and herald the start of new businesses.
Also addressing the opening session, the Japanese Ambassador hailed the level of economic and investment relations between Jordan and Japan, noting that an investment promotion and protection agreement signed in 2018 had partially met the ambitions of bilateral relations.
The agreement, he added, raised to 20 the number of Japanese firms operating in Jordan, mainly in energy, infrastructure, and manufacturing industries.
Okuyama stressed Jordan's geopolitical importance, an investor-friendly environment and distinguished relations with Japan will lead to many opportunities between the two countries.
He noted that 2024 will mark the 70th anniversary of diplomatic relations between Jordan and Japan and 50 years of establishing embassies in Amman and Tokyo.
In a presentation on the economic modernization vision and new investment opportunities, the investment minister said Jordan has many privileges to lure in foreign capital, notably free trade agreements signed with the United States, Canada, the European Union and Arab countries, which give the Jordanian producer access to nearly 1.5 billion consumers across various countries.
Saqqaf said Jordan is home to 27% of leading Arab companies in the Fourth Industrial Revolution, the next phase in the digitization of the manufacturing sector, and that 75% of the total Arabic content on the Internet is developed by Jordanian communications and information technology companies.
She noted that Japan's investments in Jordan are pivotal to prop up the economy, adding that Japanese firms have confidence in the Kingdom's business environment and invested in a host of sectors, with investments reaching about $2 billion in recent years.