‘Abu-Ghazaleh Knowledge Forum’ Hosts JIC Chairman in a Digital Talk Titled ‘Investment is an Opportunity in Time of Challenges’

AMMAN – Talal Abu-Ghazaleh Knowledge Forum (TAG-KF) hosted HE Dr. Khalid Al-Wazani, Chairman of the Jordan Investment Commission (JIC), in a digital discussion session, entitled ‘Investment is an Opportunity in Time of Challenges’ in a live broadcast through TAG-KF Facebook page. 

During the session, Al-Wazani stated that the Commission has set an early warning plan before the crisis to ensure the continuity of work and transactions follow up during the darkest conditions ever expected; as well as putting a plan and future outlook. That required the Commission to turn all its services to function remotely, through electronic platforms, without the need to go to Commission headquarters. Al Wazni pointed out that investment is the basis for driving the economy, especially during  the current difficult circumstances and challenges. 

Al-Wazani further explained the concept of Organizational Agility, which is based according to him on three main pillars including the speed of decision-making, quick response and the ability to envision the future at the appropriate time and as quickly as possible. He stressed that the Organizational Agility has nothing to do with size but with the ability to move and move fast, and the quality of what is produced from that ability and speed.

Al-Wazani added that the Organizational Agility has become today one of the most important determinants of the countries’ ability to become global, explaining that the consequences of the outbreak of the Coronavirus pandemic (Covid-19) and the level, size and ability of governments to respond to it are considered the most important determinants of Organizational Agility. 

Regarding the enabling of existing investments and the JIC’s future plan, the Chairman of JIC said that the Commission has set an action plan and initiative to sustain the economic drivers based on several angles focusing on promising entrepreneurial investments, particularly investments that have the ability to face existing and future challenges. That is in addition to the existing investments that are eligible for domestic and external expansion such as tourism, industry, health, agriculture and services. He said that the Commission will continue its work through different means of communication as well as cooperation with Jordanian embassies abroad to re-shed light on promoting these opportunities.

Al-Wazani stressed that Jordan, thanks to the royal directives to the government, managed to turn the difficult circumstances of the crisis into an opportunity that could be a strong basis to build on in the future, noting that the Jordanian achievement in managing the crisis and dealing with the Corona epidemic contributed to promoting Jordan as a safe haven for investment through broad global acclaim.

Al-Wazani also pointed out the JIC has recently held remote meetings with the participation of chairmen of boards of directors and executives of development companies of free, development and industrial zones to discuss new JIC initiative  related to investment resilience and sustainability of economic drivers under the theme ‘Investment: Resilience and Sustainability. That is in addition to discussing the organization of a training course by the JIC in collaboration with a specialized body in the field of building capacity of decision-makers in times of crisis targeting the higher management departments at the Commission and the development zone companies at the free, development and industrial zones. 

Additionally, Al-Wazani announced that the JIC will be holding a digital investment promotional workshop with the participation of businessmen in Singapore, as well as coordinating sessions with Jordanian expatriates in the Gulf region, Europe and the US to discuss investment opportunities available to them in Jordan. He also pointed out that JIC has previously launched an entrepreneurial youth initiative entitled ‘Youth of Investment’ to promote investments in governorates.

For his part, Executive Director of TAG-KF and TAG.Global Education and Youth Consultant, Mr. Fadi Daoud, who moderated the session, pointed out that the digital talk was organized as part of a series of digital meetings and talks in the time of Coronavirus, conducted by the Forum in a live broadcast through TAG-KF Facebook page.