Cabinet Issues Youth, Investment Decisions

(MENAFN- Jordan News Agency)

Jerash, July 22 (Petra) – Minister of Government Communication, Dr. Mohammad Momani, announced the Cabinet's decisions during its session held in Jerash Governorate on Tuesday.
Momani said the Cabinet decided to approve the plan to merge and develop Future Stations (formerly Knowledge Stations) and youth centers affiliated with the Ministry of Youth.
Momani, who is also government spokesperson, said the plan aims to activate and orchestrate these centers' efforts and better serve Jordan's youth, through their programs in the governorates, which will focus on teaching modern and future technologies.
Through this plan, a total of 75 youth stations and centers will be merged and supported with various sustainable youth activities, with a focus on training youth on modern and digital technical skills, artificial intelligence technologies, programming, and the electronic game industry, among others.
The scheme will also feature youth-oriented educational programs and courses, such as English language and any youth programs that fall within the plans and directives of the Ministry of Youth.
To achieve this vision, the youth centers that will merge were identified in coordination between the Ministries of Youth and Digital Economy.
These centers were picked from locations that serve the largest possible segment of youth, aimed activating their role and ensuring maximum benefit from their programs.
The Council of Ministers also decided to approve rationale for the amended Faculty Bylaw of Al- Balqa' Applied University (BAU) for the year 2025, in preparation for sending it to the Legislation and Opinion Bureau to complete procedures for its issuance accordingly.
The amendments aim to add provisions that allow for calculation of new academic qualifications for the university's faculty members and full-time lecturers.
Regarding enhancing investment and exploiting natural resources, the minister said the Cabinet decided to approve an executive agreement for the assessment, development, and exploitation of gold and minerals in Abu Khasheeba area.
The agreement involves Ministry of Energy and Mineral Resources and the Wadi Araba Minerals Company, similar to the copper exploitation agreements.
The agreement comes within the framework of optimally using Jordan's national resources and stimulating local manufacturing and sustainable investment, in line with the objectives of the Economic Modernization Vision, which focuses on this aspect.
The agreement aims to assess, develop, and exploit minerals and manufacture gold and copper to serve various industrial sectors and enhance local added value.
Prior to the start of the development phase, the agreement extends for 30 years and requires, preparation of a comprehensive development plan, an economic feasibility study, environmental and technical licenses from relevant authorities, and establishment of a public shareholding company, with 49% of its shares offered for public subscription.
This process ensures transparency and allows Jordanians to participate in project ownership and the expected economic returns.
Under the agreement, the developer is obligated to pay a royalty fee to the government, calculated at a rate directly linked to the global price of gold. This fee automatically increases as the price of gold goes up to ensure a fair distribution of revenues.
The agreement also imposes a tax on unexpected or exceptional profits if profit margins exceed specified levels, aimed to reflect a balanced fiscal policy that protects the state's interests and enhances investment stability.
The agreement emphasizes full compliance with Jordanian environmental laws, mainly submission of an eco-impact assessment study.
As per its provisions, an integrated environmental, health, and safety management system will be established, and an eco-rehabilitation plan for the site after completion of mining operations will be implemented, under the supervision of the government's environmental auditor.
This agreement embodies the practical implementation of the Economic Modernization Vision for achieveing sustainable investment in natural resources, strengthening role of the private sector, and making local added value, which would contribute to job creation, increase GDP, and promote production-based growth.

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