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Morocco and Jordan: Unlocking the Potential of Underperforming Investments, a Call for Action
In a recent diplomatic initiative, Morocco's Ambassador to Jordan, Mr. Mohamed Sghir Benm'hammed, has urged both nations to capitalize on their underperforming yet promising investment opportunities. The ambassador's remarks, delivered at a business forum in Amman, highlight the untapped potential that exists between these two North African and Middle Eastern countries.
Mr. Benm'hammed emphasized the need to enhance economic cooperation, particularly in sectors such as agriculture, industry, and tourism, where there is significant room for growth. He stressed the importance of fostering a conducive environment for investment, citing the existing legal and institutional frameworks as a solid foundation for further development.
The ambassador's call for action comes at a crucial time, as both countries strive to diversify their economies and reduce their reliance on traditional sectors. Morocco, with its strategic location and robust infrastructure, offers a range of investment prospects, including renewable energy, automotive manufacturing, and agribusiness. Meanwhile, Jordan, known for its stable political environment and skilled workforce, presents opportunities in information technology, pharmaceuticals, and logistics.
Despite these promising prospects, the ambassador acknowledged that the current level of economic cooperation falls short of its potential. He attributed this underperformance to various factors, including a lack of awareness about investment opportunities, complex administrative procedures, and limited access to financing.
To address these challenges, Mr. Benm'hammed proposed a series of measures. He called for the simplification of administrative processes, the establishment of a joint investment promotion agency, and the creation of a dedicated fund to support small and medium-sized enterprises (SMEs) engaged in cross-border trade. Additionally, he emphasized the need for enhanced cooperation in skills development and technology transfer to ensure that the benefits of economic growth are shared equitably.
The ambassador's initiative has been well-received by both governments and the business community. Officials from Jordan's Ministry of Industry, Trade, and Supply expressed their commitment to working closely with Morocco to unlock the full potential of their economic partnership. Similarly, representatives from the private sector highlighted the importance of such initiatives in fostering a more dynamic and resilient business environment.
As Morocco and Jordan navigate the complexities of economic transformation, initiatives like those proposed by Ambassador Benm'hammed offer a glimmer of hope. By addressing the challenges that hinder investment and fostering a more conducive business climate, these countries can unlock the true potential of their economic relationship, creating mutually beneficial opportunities for growth and development.