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UAE-Jordanian Investment project on track

posted on 05/06/2002: 702 views

Mohammed Shabib Hilal Al Dhahiri, Chairman of the Honorary Fund of the Abu Dhabi Chamber of Commerce and Industry, ADCCI, has said that all is going well for the plans to set up a joint UAE-Jordanian Investment company, adding that a meeting which was held recently in Jordan by the technical committee of the ADCCI and the Jordanian Businessmen Association was very fruitful. He said that the meeting had approved an amendment made on a special promotional brochure on the project, adding that the brochure will be issued after another meeting to be held at the end of this month. He pointed out that both parties are fully determined to work hard to promote the project and would present the names of committed stakeholders in September for the official establishment of the company to be announced in the same month.

A memorandum of understanding, MoU, signed by the two sides have urged the two sides to strive to approve the project and to give it the utmost priority it deserves. The MoU was signed by Al Dhahiri and Hamdi Al Tabba for the ADCCI, while the Jordanian Minister of Tourism and Archaeological sites, Dr. Talib Al Rufae, signed on behalf of the Jordanian side. The Emirates-Jordan Investment company, which is the first of its kind in Jordan, has an initial capital of US $50million, out of which US$25million comes from shares, which Jordanian investors own one quarter while the remaining three quarters belong to UAE investors. (The Emirates News Agency, WAM)


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