Press Releases
print

IFC Conference Supports Improved Investment Climate in Jordan


In Cairo:
Riham Mustafa

Phone: +(202) 2461-4230

E-mail: RMustafa@ifc.org


Amman, Jordan, June 2, 2014—IFC, a member of the World Bank Group, is holding an international conference in Jordan to highlight ways the government can improve its inspection processes, part of efforts to enhance the investment climate and simplify regulations for businesses.

The two-day conference will host policy makers and business owners from across Jordan and the wider Middle East and North Africa, to discuss best practice in inspection and areas for improvement. This will support the government’s drive for high quality inspection services, aimed at improving the transparency and efficiency of the inspection system, which will save time and reduce costs for small and medium enterprises.


“Inspection is a critical element in ensuring private sector compliance in various vital areas such as health, safety, and the environment,” said Hatem Halawani, Minister of Industry and Trade in Jordan. “Reducing inspection procedures and costs will make it easier for small businesses to comply with regulations and improve performance.”  


The Ministry of Industry and Trade and the Ministry of Public Sector Development have endorsed the conference as part of IFC’s National Inspection Reform project, which is supported by IFC development partner the U.S. Agency for International Development.


“Reforming the inspection process and improving legislation fall in line with our strategy,” said Khleef Alkhawaldeh, Minister of Public Sector Development.  “We have restructured a number of public sector institutions to enhance the investment climate and ensure the provision of high quality services for citizens and investors, while promoting transparency and accountability.”


In Jordan, small and medium enterprises account for up to 50 percent of the country’s gross domestic product and up to 60 percent of overall employment.


“Supporting regulatory reforms and improving the investment climate is a priority for IFC,” said Ahmed Ali Attiga, IFC Principal Country Officer in Jordan. “These reforms are vital for the competitiveness of the private sector and to safeguard the public interest.”


The conference, supported by the UK’s Better Regulation Delivery Office and UKAID’s iFuse Program, is part of IFC’s strategy to improve the business environment and support private sector development in the Middle East and North Africa.


About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
 
Stay Connected

www.facebook.com/IFCmena
www.twitter.com/IFC_mena
www.youtube.com/IFCvideocasts
www.ifc.org/SocialMediaIndex