Jordan excludes Palestinians from foreign investor concessions
Jordan reportedly excluded Palestinian investors from the West Bank from investing inside the kingdom, which some analysts link to the talks about finding a solution to the Palestinian-Israeli conflict, namely by creating a Jordanian-Palestinian confederation.
An official Jordanian source said Sept. 23 that his government excludes Palestinian businessmen living in the West Bank from economic concessions recently granted to foreign investors in terms of streamlining investment procedures and reducing the time of obtaining the necessary approvals, without explaining the reason for this exception.
The same source told Al-Quds Press on condition of anonymity that after Palestinian investors are denied the concessions, they would not be able to set up their own projects in Jordan because of the complexities they would face when applying for a permit to do so.
Jordanian Prime Minister Hani al-Mulki had announced Aug. 3 that he would issue one security clearance per foreign investor, and this document would serve as a permit for any action or service needed to invest and reside in the kingdom.
An official at the Palestinian National Economy Ministry told Al-Monitor on condition of anonymity, “The Palestinian Authority [PA] does not interfere in Jordan's decisions as a sovereign state, but Palestinian investors may see Jordan as a country that encourages investment and into which they can pump money. This is particularly true because they face problems when it comes to investments in the Palestinian territories, such as the lack of trust in the Palestinian economy, the decline in trade with Israel, the small size of the Palestinian market, the rise in land prices and the limited banking concessions — all of which may be seen as a disincentive to invest, although the Ministry of Economy is making vigorous efforts to improve the Palestinian investment environment.”
