Saudi Arabia Follows Post-Oil Vision With Jordan Investment Plan - Bloomberg

Saudi Arabia Follows Post-Oil Vision With Jordan Investment Plan - Bloomberg:

"Saudi Arabia and Jordan agreed to set up a joint coordination council that will oversee investments by the Saudi Public Investment Fund.
The fund’s investments will be the largest in Jordan in decades and "will unblock billions of dollars" for the Hashemite kingdom, Bassem Awadallah, King Abdullah II’s special envoy to Saudi Arabia, said by phone from Amman. Agreements on nuclear power cooperation and on uranium extraction are also expected to follow, he said.
"We’ve never had an Arab investment fund that has come to commit billions of dollars in investments in leading sectors of the economy in Jordan," Awadallah said. The new council will determine which sectors will be chosen and how much will be invested, and the two countries will also cooperate in Jordan’s Aqaba special economic zone, Awadallah said."



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