Government announces new package to boost economy, stimulate investment
جهينة --A package of government measures aimed at enhancing the economy, stimulating investment and improving the quality of services was announced on Sunday as part of an integrated program that will be implemented within a timeframe starting within days and over several months.
During a discussion session held at the Royal Cultural Center, Prime Minister, Omar Razzaz, announced the four axes of the national program.
Razzaz said the four axes, which the government pledged to carry out, focus on revitalizing the national economy, stimulating investment, improving the citizens' living standards, and upgrading the quality of services provided to citizens, in addition to administrative reform and public finances.
On the first package, the details of which were announced today, included measures and decisions in the axis of "revitalizing the national economy and stimulating investment, mainly boosting the real estate industry and housing market by reducing the prices of land allocated for sale through the Housing and Urban Development Corporation.
Under the measures, the decision to exempt fees on land parceling-out will continue until the end of 2019, in addition to the first 150-square meter apartments and land from registration and ownership transfer, regardless of the apartments' size and the number of apartments per Jordanian, and reduction of registration and ownership transfer fees for apartments by 50 percent.
The incentive measures also included the implementation of the National Housing Program "Affordable Housing", and the launch of low-interest housing loans through the Central Bank of Jordan (CBJ) in the governorates and the capital that benefit from the aforementioned program.
The procedures also included the activation of the insolvency law to give the defaulting investors an opportunity to continue and recover.
On stimulating the productive sectors, exports and employment, the government package focuses on granting direct incentives to the investor in the industrial and commercial sector and within specified standards, offering JD 240 annually for each Jordanian worker employed to replace an expatriate peer, and providing government health insurance for the new Jordanian worker and his family.
Regarding the reduction of energy costs on the mentioned sectors, the government has taken measures aimed to reducing the electricity tariff on the medium and small industries by 10 fils per (kWh), and granting preferential prices to all productive sectors on the additional consumption of electricity compared to the previous year, in addition to reducing the maximum load fine on the agricultural sector to become 2 JD per (kW / month) instead of JD(3,79) per kilowatt / month.
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During a discussion session held at the Royal Cultural Center, Prime Minister, Omar Razzaz, announced the four axes of the national program.
Razzaz said the four axes, which the government pledged to carry out, focus on revitalizing the national economy, stimulating investment, improving the citizens' living standards, and upgrading the quality of services provided to citizens, in addition to administrative reform and public finances.
On the first package, the details of which were announced today, included measures and decisions in the axis of "revitalizing the national economy and stimulating investment, mainly boosting the real estate industry and housing market by reducing the prices of land allocated for sale through the Housing and Urban Development Corporation.
Under the measures, the decision to exempt fees on land parceling-out will continue until the end of 2019, in addition to the first 150-square meter apartments and land from registration and ownership transfer, regardless of the apartments' size and the number of apartments per Jordanian, and reduction of registration and ownership transfer fees for apartments by 50 percent.
The incentive measures also included the implementation of the National Housing Program "Affordable Housing", and the launch of low-interest housing loans through the Central Bank of Jordan (CBJ) in the governorates and the capital that benefit from the aforementioned program.
The procedures also included the activation of the insolvency law to give the defaulting investors an opportunity to continue and recover.
On stimulating the productive sectors, exports and employment, the government package focuses on granting direct incentives to the investor in the industrial and commercial sector and within specified standards, offering JD 240 annually for each Jordanian worker employed to replace an expatriate peer, and providing government health insurance for the new Jordanian worker and his family.
Regarding the reduction of energy costs on the mentioned sectors, the government has taken measures aimed to reducing the electricity tariff on the medium and small industries by 10 fils per (kWh), and granting preferential prices to all productive sectors on the additional consumption of electricity compared to the previous year, in addition to reducing the maximum load fine on the agricultural sector to become 2 JD per (kW / month) instead of JD(3,79) per kilowatt / month.
//Petra// AG More...