Amman: The Cabinet approved a series of extensive economic, tax, investment, and social reforms aimed at enhancing growth, public services, and fiscal stability.
According to Jordan News Agency, a significant decision includes releasing JD 15 million in overdue export support payments to 72 industrial companies for claims from 2019-2021. This initiative is expected to enhance liquidity, support production, and improve industrial competitiveness. Companies owed over JD 500,000 are eligible for government-guaranteed financing, whereas smaller claims will be paid directly by the Ministry of Finance.
To bolster investment, the government introduced tax incentives in the Aqaba Special Economic Zone. These incentives include a 50% reduction in property and land taxes for debts incurred before 2026 and a full exemption from penalties for settling dues by the end of 2026, aiming to stimulate investment and real estate activities.
In the agricultural sector, the Cabinet approved amendments to wholesale market regulations to enhance oversight, regulate trade, and protect both farmers and consumers, allowing municipalities to jointly establish markets. These reforms are expected to modernize agricultural marketing and reduce price distortions.
The government's tax settlement and reconciliation program has been extended until June 2026, allowing taxpayers to settle outstanding dues from previous years up to the end of 2024, excluding more recent debts.
In terms of investment cooperation, Jordan sanctioned a $100 million joint investment company between the Social Security Investment Fund and the Oman Investment Authority. This initiative targets sectors such as energy, ICT, agriculture, mining, tourism, and infrastructure.
Institutional and governance reforms included assigning the Independent Election Commission to oversee elections for chambers of commerce and industry to ensure transparency.
In education and social policy, the Cabinet approved reforms to the university student support fund, increasing its funding to JD 40 million and distributing grants more evenly across governorates, benefiting around 60,000 students. A new initiative includes the launch of free public school transport, starting in southern regions and gradually expanding nationwide.
Social protection reforms introduced a new system to support orphans transitioning from care homes to independent living, extending support until age 26. Additionally, the Cabinet approved administrative restructuring in the Ministry of Health and the Income and Sales Tax Department to enhance efficiency, digitalization, and risk management in public administration.