FOR SALE: The Country of Jordan للبـيـع: دولــة الأردن

الخميس 03 أيلول 2009

Abdali Project


شهدت الأردن ارتفاعا دراماتيكيا في الاستثمار الأجنبي المباشر في السنوات القليلة الماضية. منذ حرب العراق، قفزت الأردن من المرتبة ال 146 من 192 دولة بالنسبة للاستثمارات الأجنبية، إلى المرتبة السابعة عام 2007 و من ثم السادسة في 2008.

في عام 2008 فقط، اجتذبت الاستثمارات الأجنبية 1.376 بليون دينار أردني، مما يعني أن متوسط الاستثمارات بلغ ال 344 مليون دينار كل فصل (ربع السنة). قانون الاستثمار الصادر في عام 2003 وقانون الترويج الاستثماري الصادر في عام 1995 قدما للمستثمرين الامتيازات، الاعفاءات الضريبية وغيرها من التسهيلات بالإضافة إلى حق تملك المشاريع في الأردن.

بالرغم من الفوائد المعروفة للاستثمارات الأجنبية المباشرة، فإن معظم هذه المشاريع لا تعود على الدولة بأي دخل ضريبي يذكر.

مع أن العديد من الأشخاص يزكون الاستثمارات الأجنبية و يرحبون بها كاستثمارات عظيمة تفيد الأردن، هنالك العديد ممن يرون أن شراء مشاريع التعمير الضخمة و الأراضي الشاسعة، و ما يصاحبه من ارتفاع في أسعار المعيشة بشكل عام لا يدعم الفوائد المروج لها لهذه الاستثمارات.

ما هو رأيك بالاستثمارات الأجنبية المباشرة في الأردن؟ و هل يجب السماح للمستثمرين الأجانب بشراء الأراضي و المشاريع كما يحلو لهم بغض النظر عن تأثير ذلك على المواطنين؟

Jordan has seen a dramatic rise in foreign direct investment (FDI) during the past few years. Since the Iraq war, Jordan has risen from number 146th out of 192 countries for FDI to 7th in 2007 and 6th place in 2008. (source: http://www.amchammena.org/Jordan/Foreign%20Direct%20Investment.pdf) In 2008 alone, FDI attracted JD1.376 billion, which averaged roughly JD 344 million per quarter. The Investment Law of 2003 and the Investment Promotion Law of 1995 offer perks, tax breaks, exemptions, and sole ownership for projects in Jordan. Despite the stated benefits of FDI, most projects generate little or no tax revenue.

While many hail FDI as a great investment to Jordan, many see the large building projects, the foreign investors buying up large tracts of land, and the rise of cost of living as not as beneficial as advertised. What’s your opinion on FDI in Jordan and should foreign investors be allowed to buy up large swaths of Jordan and do as they wish with our country?

29 responses to “FOR SALE: The Country of Jordan للبـيـع: دولــة الأردن”

  1. mab3oos says:

    tax revenue shouldn’t be the sole measuring stick in assessing the benefits of FDI. Those projects create jobs, the jobs’ salaries stimulate the economy and create more jobs. By further stimulating the economy, the government has another chance to make up for the tax incentives through the 16% sales tax.

    The same FDI will also cause supporting industries to grow, such as construction, business services, food and hospitality services, and many others, which will increase income tax revenue on them since they are not offered the same incentives.

  2. mab3oos says:

    tax revenue shouldn’t be the sole measuring stick in assessing the benefits of FDI. Those projects create jobs, the jobs’ salaries stimulate the economy and create more jobs. By further stimulating the economy, the government has another chance to make up for the tax incentives through the 16% sales tax.

    The same FDI will also cause supporting industries to grow, such as construction, business services, food and hospitality services, and many others, which will increase income tax revenue on them since they are not offered the same incentives.

  3. Mohanned says:

    I am not sure that the numbers are accurate. If we can get a break down of the numbers then maybe it will make more sense. Also maybe the way the numbers are claculated;are they projects on the ground or just plans?In what sectors? etc..

  4. Mohanned says:

    I am not sure that the numbers are accurate. If we can get a break down of the numbers then maybe it will make more sense. Also maybe the way the numbers are claculated;are they projects on the ground or just plans?In what sectors? etc..

  5. Mohanned says:

    For example, the 2008 numbers, do they include the sale of the aqaba port? If so, then the numbers are distorted.

  6. Mohanned says:

    For example, the 2008 numbers, do they include the sale of the aqaba port? If so, then the numbers are distorted.

  7. Karim says:

    I think it is good for Jordan. As stated above by one of the readers, it creates jobs in the market. What is important for the government to do is capitalize on the human resources that Jordan can offer, and really go all the mile to offer better education for the young people.

    In Singapore, they capitalize on their people. They offer them great educational system, and foreign companies branch out in Singapore and hire Singaporeans. This is totally not the case in a city like Dubai, which is not a good example to follow.

    I think what is also important is to channel all those investments in a sustainable manner; taking into consideration the cultural, social and environmental impacts, and making sure it does not do harm.

    Also wish we can see more investments in green energy and tech, and less in real estate and typical services.

  8. Karim says:

    I think it is good for Jordan. As stated above by one of the readers, it creates jobs in the market. What is important for the government to do is capitalize on the human resources that Jordan can offer, and really go all the mile to offer better education for the young people.

    In Singapore, they capitalize on their people. They offer them great educational system, and foreign companies branch out in Singapore and hire Singaporeans. This is totally not the case in a city like Dubai, which is not a good example to follow.

    I think what is also important is to channel all those investments in a sustainable manner; taking into consideration the cultural, social and environmental impacts, and making sure it does not do harm.

    Also wish we can see more investments in green energy and tech, and less in real estate and typical services.

  9. ramsey says:

    I think the important question to ask, is how do large construction projects and the rising barrier for young people to find work impact the social fabric of Amman?

    Its not a mythological creature, this thing called neoliberal capitalism. Its a very intentional process, one that is constantly in crisis.

  10. ramsey says:

    I think the important question to ask, is how do large construction projects and the rising barrier for young people to find work impact the social fabric of Amman?

    Its not a mythological creature, this thing called neoliberal capitalism. Its a very intentional process, one that is constantly in crisis.

  11. mab3oos says:

    Ramsey,
    There are other cities in Jordan than Amman. I find it increasingly disturbing to focus on Amman as if the suffering of citizens in other cities is negligible and has no bearing on the overall socioeconomic makeup of the country. Furthermore, The barrier to find work in Jordan is built by the same young people that still complain of chronic unemployment. Every time someone brings up the subject of unemployment in the country, one must remind them of the hundreds of thousands of hardworking foreign workers, the illogical and myopic career choices, and their unreasonable demands given the public policies of Jordan they help create and support every parliamentary election!

    Karim, are you too righteous to say “mab3oos”?

  12. mab3oos says:

    Ramsey,
    There are other cities in Jordan than Amman. I find it increasingly disturbing to focus on Amman as if the suffering of citizens in other cities is negligible and has no bearing on the overall socioeconomic makeup of the country. Furthermore, The barrier to find work in Jordan is built by the same young people that still complain of chronic unemployment. Every time someone brings up the subject of unemployment in the country, one must remind them of the hundreds of thousands of hardworking foreign workers, the illogical and myopic career choices, and their unreasonable demands given the public policies of Jordan they help create and support every parliamentary election!

    Karim, are you too righteous to say “mab3oos”?

  13. amjad Abu Salem says:

    i agree with mab3oos

    ps: the title of the article is stupid and misleading.

  14. amjad Abu Salem says:

    i agree with mab3oos

    ps: the title of the article is stupid and misleading.

  15. lirun says:

    i would ask how the regulators have balanced the short and long term benefits.. even though jordan is a relatively large country compared to its population size – ironically developed urban settings still remain a limited resources and its a vital resource.. once you part from it – it become harder to regain control and there are other implications eg (a) being able to influence the evolution of your urban space.. (b) the level of responsibility sensed by the ownership towards the local area.. (c) the level of priority the asset has for the owner within their portfolio and the ensuing level of upkeep and improvement surrounding those assets..

    i dont know if jordan has a foreign investment review board mechanism in place and if it does how scrutinous it is.. however if there is a spike in foreign money entering your economy it could be a good time to review this very issue..

  16. lirun says:

    i would ask how the regulators have balanced the short and long term benefits.. even though jordan is a relatively large country compared to its population size – ironically developed urban settings still remain a limited resources and its a vital resource.. once you part from it – it become harder to regain control and there are other implications eg (a) being able to influence the evolution of your urban space.. (b) the level of responsibility sensed by the ownership towards the local area.. (c) the level of priority the asset has for the owner within their portfolio and the ensuing level of upkeep and improvement surrounding those assets..

    i dont know if jordan has a foreign investment review board mechanism in place and if it does how scrutinous it is.. however if there is a spike in foreign money entering your economy it could be a good time to review this very issue..

  17. lirun says:

    i can also tell you about the direct pain FDI has caused us here in israel.. with foreigners buying apartments left right and centre and leaving us with an overpriced real estate sector.. outpriced poeple’s home towns and removed them from the financial reach of their kids and yet many of these dwellings are left empty for most of the year in between the owners’ holidays.. this happens mostly in jewish towns but it affects the entire property sector..

    the short term benefits end up becoming much less straight forward..

  18. lirun says:

    i can also tell you about the direct pain FDI has caused us here in israel.. with foreigners buying apartments left right and centre and leaving us with an overpriced real estate sector.. outpriced poeple’s home towns and removed them from the financial reach of their kids and yet many of these dwellings are left empty for most of the year in between the owners’ holidays.. this happens mostly in jewish towns but it affects the entire property sector..

    the short term benefits end up becoming much less straight forward..

  19. Ali says:

    The picture above was taken by me, From where did you guys get it ?, Either it’s mine or someone toke it from the exact spot i toke it from.

    I have no comment regarding the subject, Even though it’s good to know some information.

  20. Ali says:

    The picture above was taken by me, From where did you guys get it ?, Either it’s mine or someone toke it from the exact spot i toke it from.

    I have no comment regarding the subject, Even though it’s good to know some information.

  21. ramsey says:

    Hey Ali –

    I grabbed it off flickr. I can’t find the page, but if you open image on a new page, its still hosted there. I can add your name to the credit if you give me a link to link to. Let us know.

    Sorry about that, next time we’ll make sure to credit. Thanks for catching it!

    Thanks,

  22. ramsey says:

    Hey Ali –

    I grabbed it off flickr. I can’t find the page, but if you open image on a new page, its still hosted there. I can add your name to the credit if you give me a link to link to. Let us know.

    Sorry about that, next time we’ll make sure to credit. Thanks for catching it!

    Thanks,

  23. Maha says:

    Not the first time someone uses this ridiculous title for an article!!

  24. Maha says:

    Not the first time someone uses this ridiculous title for an article!!

  25. mohannad says:

    please 7iber remove this article
    it is very offensive to jordan and jordanians
    and it not true

  26. ramseytesdell says:

    mohannad, how is it offensive to jordan and jordanians? What's not true?

    Its asking your opinion and stating a few numbers that the government themselves recognize!

  27. mohannad says:

    please 7iber remove this article
    it is very offensive to jordan and jordanians
    and it not true

  28. ramseytesdell says:

    mohannad, how is it offensive to jordan and jordanians? What's not true?

    Its asking your opinion and stating a few numbers that the government themselves recognize!

  29. zaid says:

    هذا استعمار وليس استثمار

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