Cabinet Approves Establishment Of Company For Developing Cities, Facilities

(MENAFN- Jordan News Agency)

Amman, February 9 (Petra) – The Cabinet, in a session held on Sunday and chaired by Prime Minister Jafar Hassan, approved the establishment of an unlisted public shareholding company affiliated with the Jordan Capital and investment Fund under the name "Jordanian Company for Developing Cities and Facilities," in accordance with the Jordanian Investment Law No. 16 of 2016.
The company, which will be fully owned by the government, aims to implement and develop major strategic infrastructure projects and public facilities of economic or service significance across various governorates. It will oversee projects such as intercity public transportation, alternative roads, and railway networks. Additionally, it will manage and develop the lands designated for the new city, preparing them for investment purposes.
The company will also establish specialized subsidiaries responsible for executing key infrastructure projects, including the sports stadium project directed by His Majesty King Abdullah II as the foundation for an integrated sports city. Other initiatives, such as an exhibition city, will be implemented in partnership with the private sector, aligning with the government's strategy to enhance public-private collaboration and attract investment opportunities.
As part of its economic modernization efforts, the Cabinet approved amendments to the regulations governing electricity supply under the rural fils program, initially established in November 2021. The changes aim to support expanding industries and facilitate electricity access for citizens by adjusting the regulatory framework for electricity provision to productive, investment, and industrial projects.
A new clause was added to contribute 25% towards establishing or upgrading transformer stations that support industrial development zones and new or expanding industrial projects, promoting investment, job creation, and economic growth.
The amendments will also reduce electricity costs for farmers, contributing to food security. Furthermore, electricity supply will be extended to communities of at least five households at an average cost of JD6,000 per house, provided that a duly certified regulatory board represents the community, all required documents are available, and basic infrastructure such as roads and water services are in place. The decision seeks to reduce household electricity costs, enhance electrical infrastructure, and improve service quality.
Additionally, the Cabinet approved an amended customs system for the Aqaba Special Economic Zone for 2025, enabling the Jordan Customs Department to enforce its provisions within the zone in accordance with agreed customs procedures.
To further support investment and economic activity, the Cabinet approved a recommendation from the Committee on Pending Cases between taxpayers and the Income and Sales Tax Department to settle 1,082 cases involving companies and taxpayers. This decision aligns with the government's ongoing tax settlement and mitigation efforts.
Regarding administrative and legislative updates, the Cabinet approved amendments to the Jordan Olympic Committee system for 2025. These amendments align with recent changes in the International Olympic Charter and International Olympic Committee decisions. A new article defines the organizational structure of the Jordan Olympic Committee, including its General Assembly, Board of Directors, Executive Office, auxiliary and independent committees, and General Secretariat.
The amendments also revise the committee's responsibilities, introduce new membership criteria, and outline conditions for membership termination and other regulatory matters.
To address increasing population growth and alleviate pressure on the Irbid Peace Court, the Cabinet approved the establishment of the West Irbid Peace Court for 2025.
In the framework of international cooperation, the Cabinet approved a project agreement between the Jordanian government, represented by the Ministry of Agriculture, and the Food and Agriculture Organization of the United Nations (FAO) to enhance veterinary services and update veterinary legislation and regulatory frameworks in Jordan.
The project aims to improve early warning and risk reduction capabilities, strengthen national and global health risk management, promote sustainable food production systems, and enhance agricultural resilience to climate change and drought while improving land and soil quality by 2030.
The Cabinet also approved Jordan's accession to the Women Development Organization, an entity under the Organization of Islamic Cooperation, assigning the Ministries of Foreign and Expatriates' Affairs and Social Development to complete the necessary procedures.
Furthermore, the Cabinet approved a memorandum of understanding between the Ministry of Digital Economy and Entrepreneurship in Jordan and the University of Waterloo in Canada.
The agreement seeks to explore avenues for cooperation, introduce successful educational models from the University of Waterloo into Jordanian universities particularly integrating academic study with practical experience and establish a joint business incubator based on commercial marketing principles similar to Waterloo's Velocity Business Incubator and WatSPEED professional and executive education programs.

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