Memorandum of Understanding between Jordan Investment Board and Russian-Jordanian Business Council Signed

Signing of Memorandum of Understanding: RJBC Deputy Chairman, Director Mr. Kononenko, Chief Executive Officer of Jordan Investment Board H.E. Dr. Awni H. Al-Rushoud

On 14th March 2013 at the Jordan Investment Board, Chief Executive Officer of Jordan Investment Board H.E. Dr. Awni H. Al-Rushoud and Deputy Chairman, Director of the Russian-Jordanian Business Council (RJBC) Mr. Kononenko had a business meeting.

Parties at the talks discussed issues concerning investment cooperation in a whole number of areas:

-  alternative energy;

-  power industry: equipment and technologies;

-  railway and automobile roads construction, including the concomitant infrastructure;

-  organic and inorganic fertilizer manufacturing;

-  woodworking industry, innovative technologies;

-  innovation technologies in desalination, filtration and sterilization of water, ground water finding;

-  information technologies, wireless communications systems, innovations and mobile telecommunication systems;

-  Medicines and Cosmetics production;

-  investment activities in Agriculture;

-  cargo transportation and Logistics.

On the proposal of H.E. Dr. Awni H. Al-Rushoud, the negotiators considered quite a few economic zones in a Jordan’s territory and a possibility to locate there either Russian enterprises or Russian-Jordanian joint ventures; also they focused on the list of present tax concessions and tax preferences depending on the kind of business activity.

Within the framework of negotiations both parties could exchange and discuss a number of initiatives and events aimed at more successful promotion of Jordanian products and services to the Russian market as well as Russian products, services and investments to Jordan.

In this connection, the negotiators agreed that the Jordanian Part should provide to the Russian Part a complete package of information related to investment environment, including current investment projects in a Jordan’s territory, terms of financing, tax concessions, investment insurance, etc. so that the Russian-Jordanian Business Council could post on these data on its official website.

The talks resulted in a decision to sign the Memorandum of Understanding between the Jordan Investment Board and the Russian-Jordanian Business Council. The signatory to a treaty from the Jordanian Part was Chief Executive Officer of Jordan Investment Board H.E. Dr. Awni H. Al-Rushoud. From the Russian Part the Memorandum of Understanding was signed by Deputy Chairman, Director of the Russian-Jordanian Business Council Mr. Kononenko.

RJBC Deputy Chairman, Director Mr. Kononenko, Jordan Investment Board Chief Executive Officer H.E. Dr. Awni H. Al-Rushoud

Jordan Investment Board CEO H.E. Dr. Awni H. Al-Rushoud, RJBC Deputy Chairman, Director Mr. Kononenko