Petra .. financial, legislative and administrative challenges that hinder investment

While absent its investment projects for the banner Petra during the current year 2014, stressed infrastructure and investment in the Petra region commissioner of tourism development Tharwat reconciliation, financial, legislative and administrative challenges, the most prominent investment barriers experienced by the region.

A reconciliation «The commissioners of the new Council of the Authority, who took office since the beginning of the year, put several lines of action, including infrastructure and investment hub, because it can not attract investment without adequate infrastructure him create», indicating that the limited power budget for this year did not enable them to implement projects infrastructure, in addition to the legislative challenge that represents the lack of privileges to investors, prompting the authority to raise the rate law of the Court of legislation to which the investor is granted in Petra own areas and privileges similar to Aqaba.

He said that the administrative side of the lack of experience working in the field of investment in power and one of the obstacles form, where they are now working on the development of the founders of the plan seeks to raise working efficiency of the Authority.

And reconciliation, that land use is in the region posed a challenge to investment and investors, was completed during the last period to determine the uses and the separation between the band Petra archaeological protected and the rest of the regions.

Revealed reconciliation, that he was finished completing all documentation tenders major infrastructure projects in the district; medium of the country and the street and tourist street Panorama rear and the road, and that the power awaiting government funding and the region's share of the grant Gulf of these projects to be implemented during the year 2015.

He noted the reconciliation, he was the finalization of the investment environment and the licensing system, and the completion of the discussion and waiting for the power its publication in the Official Gazette of the work done, adding that if the issue of private investment law to power during the first half of next year, along with the collection of funds and the start of implementation of infrastructure projects Great, the Authority will hold an economic forum under the auspices of ownership, targeting local and foreign investors to view investment opportunities in the region.

He emphasized reconciliation, it is currently the economic feasibility study (6 projects), in addition to that he was a tender investment map of the region and contains about (25 investment vision), including the economic feasibility of these visions studies, saying that the challenges faced by the region in the field of investment required to make extensive efforts by the Authority in partnership with stakeholders, because it can not attract investment without creating the right environment to enact legislation that encourages him.

He reconciliation, hope to see the second half of 2015, a trend by investors to Petra, the optimism of power to dissolve the investment obstacles and access to adequate funding for the implementation of infrastructure projects.