Jordan has approved 33 articles of its draft investment law to regulate investment in the country.
The Lower House held an evening session on Sunday, chaired by Speaker Abdul Karim Dughmi, in the presence of the Cabinet’s members, to debate and approve the draft law. .
So far, deputies have endorsed 33 out of 52 articles, as referred to by the House Economy and Investment Committee, with some amendments being made after an extensive debate on the bill’s articles.
During the evening session, the lawmakers approved a slew of the bill’s items as referred by the government, with an amendment to Article 22, which now reads: “The main developer, with the Cabinet’s approval, may recover his/her lands whose ownership have been transferred to the registered institution in whole or in part”.
The House also voted to add two new clauses to Article 33, in which the first stipulates that the Petra Development and Tourism Region Authority (PDTRA) shall apply provisions related to incentives within the development zones mentioned in this law, while the second stipulates that PDTRA shall allocate 50 percent of its revenues, in accordance with the new bill.
