Amman Trade: The Jordanian-Saudi business network has moved from idea to implementation and is targeting investment partnerships.
Nabil Al-Khatib, First Deputy Chairman of the Amman Chamber of Commerce, affirmed that the Jordanian-Saudi Business Network has made tangible progress since its launch, moving from the idea stage to implementation, by building an initial base for communication between businessmen, investors and executive managers, and organizing bilateral meetings to explore opportunities for joint cooperation.
Al-Khatib said during a virtual meeting of the network organized by the Chamber today that the next stage requires moving to a more advanced level based on developing real investment projects and building sustainable partnerships on the ground, which will enhance economic integration between the business communities in Jordan and Saudi Arabia.
According to a statement issued by the Chamber today, Al-Khatib, in the presence of the Chamber’s Second Vice President Bahjat Hamdan, Secretary Muhammad Tahboub, and Board Member Falah Al-Sagheer, stated that what was presented during the Amman meeting and what was achieved in the Riyadh meeting confirms the existence of a real opportunity to build a successful model for economic integration, especially in light of the availability of Jordanian competencies and the large investment opportunities in the Saudi market.
He pointed out that there are a number of challenges, whether at the level of procedures or the availability of information and follow-up mechanisms, which calls for working in an institutional and organized manner to address them, stressing the importance of preparing a list of ready investment projects, enhancing periodic meetings between members of the network, and activating its digital platform, in addition to forming sectoral committees, in a way that contributes to transforming the network into an effective platform for implementation and not just for networking.
Members of the Amman Chamber of Commerce Board of Directors affirmed that the Jordanian-Saudi Business Network represents a qualitative step in organizing the relationship between the business communities of the two countries, after it had been based on individual efforts, noting that what has been achieved so far reflects a gradual transition from the idea stage to practical application, through launching the network and building a base for communication and organizing bilateral meetings between businessmen.
They explained that the current stage requires focusing on transforming the outcomes of the meetings into tangible investment projects, stressing that the challenge is no longer in networking itself, but in the ability to implement and follow up, especially in light of the need to provide accurate information about investment opportunities and legislation in both countries.
They pointed out that the absence of a clear organizational structure for the network limits the efficiency of the work, which necessitates the adoption of an institutional framework that defines roles, responsibilities and decision-making mechanisms, in order to enhance the sustainability of the network’s work and ensure the achievement of practical results on the ground.
They stressed the importance of preparing a list of ready investment projects in priority sectors, in addition to activating sectoral committees and enhancing the role of the electronic platform, which provides direct networking tools and contributes to accelerating investment decision-making.
They stressed the need to coordinate with government agencies in both countries to address legislative challenges and facilitate procedures for investors, in addition to adopting a regular meeting program and issuing periodic reports that reflect achievements and opportunities, in order to enhance transparency and encourage broader participation from the business community.
For their part, the participants in the meeting raised a number of challenges facing the development of the network’s work, in addition to presenting viable investment opportunities in a number of vital sectors, stressing the need to move from the networking stage to actual implementation and to transform the outcomes of the meetings into tangible projects on the ground.
In this context, the formation of specialized sectoral committees to support the work of the network was emphasized, including the Real Estate and Construction Sector Committee, the Information Technology, Innovation and Entrepreneurship Sector Committee, the Food Sector Committee, the Tourism and Medical Tourism Sector Committee, the Logistics and Transportation Sector Committee, the Energy Sector Committee, the Financial, Insurance and Legal Consulting Sector Committee, and the Advertising, Marketing and Public Relations Sector Committee, which contributes to organizing sectoral work and accelerating the identification of investment opportunities and following up on their implementation.
The participants noted that the formation of these committees would accelerate the work on identifying investment opportunities, monitoring the implementation of projects, and enhancing integration between the economic sectors in the two countries.
