The Jordan Investment Commission (JIC) plays a pivotal role in driving economic development and attracting both local and foreign investment into the country. Established as part of Jordan's efforts to foster a business-friendly environment, the JIC is responsible for streamlining investment procedures, offering incentives, and supporting investors through every step of establishing and operating their businesses in Jordan. In this article, we will explore the roles, functions, and benefits provided by the Jordan Investment Commission and how it serves as a gateway for investment opportunities in Jordan.

What is the Jordan Investment Commission?

The Jordan Investment Commission (JIC) is a government entity established to promote investment in Jordan by facilitating the establishment and growth of businesses. It operates under the Ministry of Investment and serves as a one-stop shop for investors, offering a range of services designed to make the investment process more efficient and accessible.

The primary goals of the JIC include:

• Promoting Jordan as an attractive destination for investment.
• Facilitating the registration and licensing of businesses.
• Providing investment incentives and support to businesses in priority sectors.
• Offering aftercare services to help businesses expand and thrive.
• Collaborating with various government agencies to remove barriers to investment and streamline procedures.

Key Functions of the Jordan Investment Commission

1. Investment Promotion:

• The JIC works to raise awareness of investment opportunities in Jordan across multiple sectors, including technology, tourism, energy, healthcare, and more. It actively engages with international investors through events, trade missions, and promotional campaigns to showcase Jordan as a stable and profitable investment destination.

1. Investment Facilitation:

• One of the JIC's key roles is to facilitate the registration and establishment of new businesses in Jordan. Through its "one-stop-shop" service, investors can access all necessary procedures, licenses, and permits under one roof. This simplifies the process of setting up a business and reduces the time needed for regulatory approvals.

1. Investment Incentives:

• The JIC provides a variety of investment incentives, such as tax exemptions, customs duty reductions, and benefits related to the hiring of foreign workers. These incentives are available to businesses operating in priority sectors or within Jordan’s special economic zones and development zones.
• Jordan has several free zones and special economic zones, such as the Aqaba Special Economic Zone (ASEZ), which offer tax holidays and exemptions, as well as reduced tariffs for investors.

1. Sector-Specific Support:

• The JIC offers specialized support for priority sectors like renewable energy, ICT, manufacturing, pharmaceuticals, and tourism. This support includes guidance on sector-specific regulations, access to research and data, and facilitation of partnerships with local businesses.

1. Aftercare and Investor Relations:

• The JIC provides aftercare services to ensure that investors continue to receive support after their business has been established. This includes assistance with navigating the local business environment, addressing challenges, and helping businesses expand their operations.

1. Legal and Regulatory Assistance:

• Investors can rely on the JIC for legal guidance and support throughout the investment process. This includes assistance with resolving disputes, navigating the regulatory framework, and ensuring compliance with Jordanian business laws.

Investment Opportunities in Jordan

Jordan offers numerous investment opportunities across various sectors, thanks to its strategic location, political stability, and well-developed infrastructure. Some of the key sectors promoted by the Jordan Investment Commission include:

1. Technology and Innovation:

• Jordan has emerged as a leading tech hub in the region, with a rapidly growing start-up ecosystem. The JIC promotes investment in the technology sector, particularly in areas like software development, fintech, and e-commerce. The government also provides incentives for research and development (R&D) in technology.

1. Renewable Energy:

• Jordan is investing heavily in renewable energy, particularly solar and wind power. The country’s goal is to increase its reliance on clean energy and reduce its dependence on imported energy. The JIC offers incentives for businesses investing in the renewable energy sector, including tax breaks and access to land for energy projects.

1. Tourism and Hospitality:

• Tourism remains one of Jordan’s most important economic drivers, with world-famous destinations like Petra, the Dead Sea, and Wadi Rum. The JIC supports investments in hotels, resorts, eco-tourism projects, and wellness tourism, offering incentives to encourage growth in this sector.

1. Healthcare and Pharmaceuticals:

• Jordan’s healthcare system is one of the most advanced in the region, and the country is a hub for medical tourism. The JIC promotes investment in the healthcare and pharmaceutical industries, offering opportunities for investors to participate in the growing demand for medical services and pharmaceutical products.

1. Manufacturing:

• Jordan's manufacturing sector is diverse and includes industries such as textiles, chemicals, and consumer goods. The JIC promotes investment in manufacturing, particularly in Jordan’s industrial zones and free zones, where investors can benefit from reduced tariffs and tax exemptions.

1. Logistics and Transportation:

• Jordan’s location at the crossroads of Europe, Asia, and Africa makes it a natural logistics hub. The JIC promotes investment in logistics and transportation, particularly in free zones and special economic zones, where businesses can benefit from customs exemptions and streamlined import/export procedures.

The Investment Process with the JIC

The Jordan Investment Commission provides a clear and structured process for investors looking to set up businesses in Jordan. Here’s how the process works:

1. Initial Consultation:

• Investors can start by consulting with the JIC to learn about the available opportunities, incentives, and the business registration process. The JIC also provides detailed information about the specific sector an investor is interested in.

1. Business Registration:

• The JIC’s one-stop-shop facilitates the registration of businesses, including securing the necessary licenses and permits from government authorities. Investors submit their business plans, registration forms, and legal documents to the JIC, which coordinates the approval process.

1. Securing Incentives:

• Depending on the type of business and the sector it operates in, the JIC helps investors secure relevant incentives, including tax exemptions, reduced tariffs, and access to special economic zones.

1. Aftercare Support:

• Once the business is established, the JIC continues to offer support through its aftercare services. This includes assistance with expansion plans, resolving regulatory issues, and providing ongoing guidance.

Conclusion

The Jordan Investment Commission (JIC) is a crucial institution for investors seeking to enter the Jordanian market. By offering streamlined business registration processes, incentives, and ongoing support, the JIC plays a vital role in facilitating investment and fostering economic growth in Jordan. Whether in technology, renewable energy, tourism, healthcare, or other key sectors, the JIC ensures that investors have the resources and guidance they need to succeed in the country’s dynamic business landscape.

For those looking to tap into the wealth of opportunities available in Jordan, the Jordan Investment Commission is the gateway to unlocking the country’s vast potential for growth and success.