Home » UAE and Jordan sign agreements to expand investment cooperation in key sectors

UAE and Jordan sign agreements to expand investment cooperation in key sectors

by Dubaiforum

ABU DHABI, 1st November, 2023 (WAM) — The Ministries of Investment of the UAE and Jordan have signed a Memorandum of Understanding (MoU) aimed at creating a framework for investment cooperation in key areas including infrastructure and development projects, while further strengthening the two countries’ enduring strategic partnership.

The UAE Ministry of Investment identified potential opportunities worth over US $2 billion in Jordan.

The agreement was signed by Mohamed Hassan Alsuwaidi, UAE’s Minister of Investment; and Zeina Toukan, Jordan’s Minister of Planning and International Cooperation.

ADQ, an Abu Dhabi-based investment and holding company, also announced that it has entered into a strategic partnership agreement to create a joint investment fund with Jordan Investment Fund, marking a milestone in ADQ’s commitment to advancing sustainable development initiatives in Jordan and the region.

By bringing together their collective expertise, resources, and technical capabilities, ADQ and Jordan Investment Fund aim to enhance infrastructure development, boost export industries and promote innovation that aim to create a sustainable impact on Jordan’s economy.

Mohamed Hassan Alsuwaidi, UAE’s Minister of Investment, said, “We are committed to strengthening collaboration with our partners to ensure collective growth and economic prosperity. This agreement reflects our desire to promote cooperation and investment in Jordan, demonstrating the depth of the strategic relations between the UAE and Jordan. We look forward to working together with Jordan to explore new opportunities and create a prosperous future and growth for both nations.”

Zeina Toukan, Jordan’s Minister of Planning and International Cooperation, stated, “This MoU is an opportunity for us to build on the deep, historic ties between both nations. It signifies our mutual commitment to enhancing our countries’ economic landscapes. Through collaboration and sharing of expertise, we hope to pave the way for innovation and growth that will benefit the people of Jordan and the UAE.”

The MoU signed between the Ministries also enables the UAE and Jordan to explore opportunities to boost bilateral investments and enhance both nations’ GDP, through investment in multiple sectors such as renewable energy, industrial projects, manufacturing, transport, pharmaceuticals, and food processing.

The two ministries will work together to build closer relationships with relevant government agencies, regulatory authorities, and private-sector enterprises in their respective countries.

The event marks a significant step towards realising the full potential of both countries and contributing to the economic growth of the region.

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