Conference to group local IT venture capitals, investors

By Mohammad Ghazal

AMMAN – The ICT Association of Jordan – int@j is preparing for a conference for networking between local venture capitals in the IT sector and local and foreign investors.

“The association and the Jordan Investment Board (JIB) are planning to start a regional tour to attract investors to the conference, which will be held before the end of this year,” Abed Shamlawi, chief executive officer of int@j, said over the phone Monday.

The conference, which will bring about local investors and provide a platform for building partnerships and attracting new investments to the country, is expected to witness a huge turnout, he said.

“The IT sector in Jordan is very promising and there is a huge potential for more growth. The idea of the conference is to enable these ventures capitals to grow their business by reaching deals with potential investors,” he said.

“The idea of the conference is to help venture capitals in Jordan partner with regional and foreign investors and reach out to a larger audience, which will help these companies grow and boost the country’s economy,” he added.

The ICT sector contributes about 14 per cent to the Kingdom’s gross domestic product, according to official figures.

In 2010, the total local and foreign investment attracted by the IT sector reached $18 million, according to Shamlawi.

Overall volume of foreign investments in the IT sector in Jordan stands at about $142 million, he said.

No figures were available about the overall volume of local investments in the IT sector.

jordantimes