On Wednesday, the Jordanian capital, Amman, witnessed the launch of a $100 million Emirati-Jordanian investment fund for promising entrepreneurial projects.
The technology investment capital fund, worth $100 million, was launched in cooperation between the Ministry of Digital Economy and Entrepreneurship in Jordan and the UAE Investment Holding Company (ADQ), under the patronage of the Prime Minister, Dr. Bishr Al-Khasawneh, at the Prime Minister’s House.
The Jordanian Prime Minister stressed that the launch of the Jordanian-Emirati investment fund comes in the context of a set of agreements and understandings between the two brotherly countries, according to the Jordan News Agency, Petra.
He explained that this comes within the framework of a distinguished fraternal relationship led and sponsored by King Abdullah II of Jordan, and his brother Sheikh Mohammed bin Zayed Al Nahyan, President of the sisterly United Arab Emirates.
In a speech during the signing ceremony, the Prime Minister of Jordan said: “We are pleased with the signing of the Memorandum of Understanding between the Ministry of Digital Economy and Entrepreneurship and the UAE Investment Holding Company (ADQ) to establish a fund for leadership and innovation, to complement the memoranda of understanding and agreements that were signed in Aqaba earlier.” The relationship and cooperation come as the culmination and implementation of a common political will, unity of situation, and an exceptional fraternal relationship that brings together the two brotherly leaderships and peoples.
Al-Khasawneh added: I was honored to head the Jordanian delegation to launch the Industrial Integration Initiative that leads to economic integration, which was initiated by Sheikh Mohammed bin Zayed, President of the UAE. The added values in the three countries.
The Jordanian Prime Minister affirmed his confidence that this initiative will be the first to expand this partnership to include other parties and areas that will benefit the peoples of our countries and the entire region.
Al-Khasawneh concluded by saying: We and our people in the UAE always complement each other, and we have exceptional bonds and relations sponsored by King Abdullah II and Sheikh Mohammed bin Zayed.
The launch of the fund comes within the strategic industrial partnership between the Hashemite Kingdom of Jordan and the United Arab Emirates.
The fund aims to support high-growth technology companies and promote the continued digital prosperity of the economy by financing emerging companies in the field of technology and leading companies in specialized innovations within the sectors of information technology, communications, and financial services, in addition to the sectors of education, food and agriculture, health and life sciences. Transport, logistics, and clean energy technology.
The agreement was signed on the Jordanian side by the Minister of Digital Economy and Entrepreneurship Ahmed Al-Hanandeh, and on the Emirati side, the managing director and CEO of ADQ, Muhammad Hassan Al-Suwaidi.
The Jordanian Minister of Digital Economy and Entrepreneurship affirmed that the launch of the fund is a milestone on the Jordanian economic growth path, and reflects the government’s interest and focus on partnering with leading global institutions to bring regarding change, leaving a positive impact on the economic side.
And he indicated that the investment of the Holding Company (ADQ) along with the Ministry of Digital Economy and leadership in high-growth technology companies will help provide new opportunities within the digital sector in the Kingdom, and promote them in a way that enhances our position on the global technology map.
In turn, the CEO of ADQ, Mohammed Hassan Al-Suwaidi, explained that the launch of the fund came due to the great potential of the technology system in the Kingdom. The vibrant market in Jordan provides huge investment potentials in sectors that fall within the company’s expertise.
He pointed out that this investment contributes to supporting the growth of the Jordanian market, facilitating access to leading companies, accelerating growth opportunities and enabling companies and entrepreneurs to benefit from the leading technology markets and funds.
