Jordan makes progress in energy investment risk indicators

Jordan made major headway in assessing energy investment risks, according to the 2023 Energy Investment Assessment (EIRA) report by the Global Energy Charter, which was publicized Monday during a ceremony chaired by the Ministry of Energy and Mineral Resources.

Director of the ministry’s Planning and Institutional Development Department Shorouk Abdel-Ghani told the eremony that Jordan made inroads in indicators after implementing multiple initiatives and policies.

“Jordan made remarkable strides in key indicators regarding the rule of law, sustainability of the energy sector’s regulatory framework and a clear vision for legislation and policies,” she said, adding that the improvements are a testimony to institutional reform efforts to facilite private investment and enhance business efficiency.

She spoke about an integrated approach to promoting investment in the Kingdom through a single investment window to simplify procesures for project developers, enhancing a more efficient and cost-effective environm
ent for business registration and licensing, and introducing an investor compensation mechanism for losses resulting from decisions outside the legal authority, adding that the incentives go beyond development and free zones.

Abdul-Ghani said that the energy transformation road map is in line with the national economic modernization vision, which underlines sustainability across various sectors, expandsion in renewable energy, development of sustainable transport systems, promotion of eco-tourism, adoption of eco-friendly agricultural technologies and water use efficiency, and improved waste management.

She also pointed to efforts to achieve a green economy, including detailed plans for key sectors, such as energy, water, waste, agriculture, transportation and tourism with a framework to measure progress.

Source: Jordan News Agency