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AMMAN - Deputizing for Prime Minister Dr. Hani Al-Mulki, Minister of State for Investment Affairs HE Mr. Muhannad Shehadeh patronized a seminar organized by Talal Abu-Ghazaleh Knowledge Forum (TAGKF) entitled "Policies and Means to Revive Amman Stock Exchange”, in the presence of HE Dr. Talal Abu-Ghazaleh.

 

Dr. Talal Abu-Ghazaleh

Dr. Talal Abu-Ghazaleh, chairman of TAGKF, expressed that "what we need today is to focus on small enterprises rather than big ones. Big enterprises are supported by different entities including the media and the government; unlike small enterprises."

Dr. Abu-Ghazaleh added: "Investment in small enterprises is important because they employ more than 80% of the workforce and innovation opportunities are available in these enterprises. In addition, innovation in enterprises is achieved today by the individual, and the world is moving from the civil state to the innovation state which requires us to focus particular attention on individual innovation."

He added that "the stock exchange is marginalized in Jordan; particularly in media. Thus, the national economy in this field needs support."

Muhannad Shehadeh

Shehadeh stressed the importance of the seminar and the papers presented therein, which cover a number of important aspects to promote ASE, as well as highlighting the need to set an insolvency law, establish equality between individuals and companies and find tax incentives.

He also questioned  "Are there opportunities for the investor? Are these opportunities promoted? So that we can promote an investment environment in ASE"

Additionally, he stressed the need to find incentives for investments that lead to clear investment opportunities in the market in response to investors’ needs, hence calling for the creation of a culture of stock and diversification, the change of deposits and investment portfolios and the provision of professional investment portfolios for companies.

"The intellectual and knowledge economy is based on several pillars including the promotion of the knowledge economy and we are approaching the fourth industrial revolution that is based on the knowledge economy," he added.

Mohammed Saleh Hourani

Chairman of the Board of Commissioners of Jordan Securities Commission (JSC) Mohammed Saleh Hourani presented a paper entitled "Stock Exchange: Reality and Aspirations" that discusses the reasons behind the decline in the performance of the stock exchange, the negative impacts of regional and international security and economic shocks on the national economy and the stock exchange, the policies and procedures taken by the JSC in this regard and suggestions to develop the market, its competitiveness and its ability to face past and future risks and crises.

 

He stated that "the downsides included the decline in the share price index, the market value of the traded companies' shares, the average daily trading volume and the movement of foreign institutional investment to the competitor's regional exchange which resulted in a drop in the classification of the Jordan Stock Exchange by Morgan Stanley from an emerging market to a developing market."

Al-Hourani attributed t