Egypt, Jordan investment committee convenes

The third meeting of the joint technical committee for investment cooperation between Egypt and Jordan kicked off here on Monday.

The meeting was co-chaired by heads of the Egyptian and Jordanian investment authorities Alaa Eddin Omar and Montasser al Aqla, respectively.

The two sides agreed on the committee's 2016 action plan, which includes organizing a joint investment conference and training courses to exchange expertise on the one-stop-shop policy and economic feasibility studies.

The committee's first meeting was held in Jordan in 2001 and the second in Cairo in 2002, Omar said.

Jordan ranks the 23rd in the list of countries investing in Egypt, he said.

Jordan has 502 companies in Egypt with a capital of 510 million dollars, specialized in the services, developmental, agricultural, tourist and construction sectors, while 58% of them are specialized in industrial activities, he added.

The volume of trade exchange between the two countries does not reflect the level of their relations, he regretted.

The volume of two-way trade recorded 930 million dollars in 2009-2010 against 587 million dollars in 2014-2015, he explained.

He shed light on investment systems in Egypt and amendments to the governing legislative structure aiming at encourage local, Arab and foreign investors.

A total of 9,236 companies were founded with an issued capital of EGP 15.1 billion last year against 9,442 companies in the period between January and October of 2015, he said.