Business
Morocco-Jordan: A Memorandum of Understanding to Strengthen Investment
The memorandum represents a new step towards implementing the provisions of the bilateral partnership in priority areas, particularly the study of investment and development opportunities in both countries, as well as the exchange of information to strengthen cooperation and financing of investment and development projects.
A memorandum of understanding aimed at establishing partnerships in investment and development between Morocco and Jordan was signed on Tuesday in Amman by the General Manager of the Caisse de Dépôt et de Gestion (CDG), Khalid Safir, and the President of the Jordanian Social Security Investment Fund, Ezzeddine Kanakrieh.
Speaking on this occasion, Safir indicated that this memorandum represents a new step towards implementing the provisions of the bilateral partnership in priority areas, particularly the study of investment and development opportunities in both countries, as well as the exchange of information to strengthen cooperation and financing of investment and development projects.
It also involves promoting the exchange of expertise, visits, technical cooperation, and training, as well as joint participation in international conferences and periodic meetings to discuss various subjects and investment opportunities.
Safir also presented the CDG’s experience in contributing to sustainable development in Morocco, highlighting its central role in mobilizing national savings and its focus on projects with significant economic and social impact, as well as its extensive experience in finance, real estate, infrastructure, and development, making this institution a strategic actor in development and implementation of major public policies.
He also reiterated the CDG’s willingness to move forward in achieving the objectives of this memorandum, based on « the conviction of the importance of strengthening economic cooperation and encouraging investment between Arab countries, particularly between Jordan and Morocco, in line with the historical ties established between the two countries ».
For his part, Kanakrieh emphasized the importance of this partnership, which comes at a time when the region aims to strengthen its economic stability and face challenges through investments.
This memorandum represents a comprehensive vision that goes beyond the traditional framework of bilateral cooperation to establish a participatory system based on complementarity, he continued, stressing that the realization of the concept of «impact investment» requires strong institutional partnerships that contribute to creating economic and social added value.
On his side, the President of the Investment Council, Umayya Toukan, highlighted that this cooperation constitutes a concrete example of the Arab integration spirit, based on achieving common interests aimed at strengthening investment relations, stimulating growth in high-value-added sectors, and supporting the real economy in both countries.
The Social Security Investment Fund (SSIF) is one of the most important investment funds in the Kingdom of Jordan, with reserves exceeding 16 billion Jordanian dinars (approximately 23 billion dollars). It invests in strategic sectors such as banking, energy, mining, telecommunications, tourism, pharmaceuticals, agriculture, and real estate investment.
The signing ceremony took place in the presence of the Moroccan Ambassador to Jordan, Fouad Akhrif, the General Manager of the Savings-Provision Branch at CDG, Mohamed Ali Bensouda, the Director of the Cooperation and International Affairs Division at CDG, Adnane El Fassi, and the Ambassador of the Hashemite Kingdom of Jordan to Morocco, Jumana Ghunaimat.
The CDG and SSIF also signed, on the same day in Amman, a memorandum of understanding for cooperation in the fields of retirement, social insurance, and investment.
