(Safe): An investment and development agreement was signed today, Monday at the Prime Minister’s House, in the presence of Prime Minister Dr. Bishr Al-Khasawneh, between the Jordan Investment Fund and the Saudi Jordanian Investment Fund for the implementation of a healthcare investment project. sector with an investment size of about $ 400 million.
The agreement was signed by the President of the Saudi Jordanian Investment Fund, Mr. Hisham Attar, CEO of Saudi Jordanian Investment Company, z. Omar Al-War, and the Director of the Jordan Investment Fund, Mr. Zaher Qatarneh. .
A long-term lease agreement was also signed for the land on which the project will be built, with an area of about 187 hectares, between the Saudi Jordanian Investment Fund and the Amman Vision Investment and Development Company, the investment arm of the Municipality of Greater Amman.
The agreement was signed by the Chairman of the Board of Directors of the Saudi Jordan Investment Fund, Mr. Hisham Attar and CEO of the company, Mr. Omar Al-Wor, and His Excellency the Mayor of Greater Amman, Chairman of the Board of Directors of the Amman Vision Investment and Development Company, Dr. Yousef Al-Shawarbeh, and Acting CEO of Amman Vision for Investment and Development Alaa El-Din Benno.
The signing ceremony was attended by a number of ministers, senior officials and ambassadors of the Kingdom of Saudi Arabia, the United States of America and the United Kingdom.
The project will be implemented under the Build, Opera and Transfer (BOT) system, where ownership of the project with all its elements will be returned to the Jordanian government after the end of the operation period, as the project is covered by the provisions of the Fund Law of Jordan Investments No. I pari 2020.
The healthcare project, which will be implemented by the Saudi Jordanian Investment Fund Company, consists of a university hospital with a capacity of 300 beds, 60 outpatient clinics, a specialized children’s hospital, an emergency care facility and a medical university with capacity. of 600 places, at a rate of 100 places per academic year. The project is expected to provide more than five thousand permanent jobs.
The project will be located on the airport road near the Ghamdan area, which will facilitate access for patients from different regions of the Kingdom.
It will be implemented in partnership with two of the most important institutions in the world in the field of health care and medical education, namely, University College London – UCL, as an academic partner and hospitals of the University of California, Los Angeles in the United States. States of America (UCLA Health). , Los Angeles), as a medical partner.
During the signing ceremony, Prime Minister Dr. Bishr Al-Khasawneh stressed the depth of the well-established fraternal relations between the Hashemite Kingdom of Jordan and the Kingdom of Saudi Arabia and the common interest in strengthening cooperation between them in all areas, in particular. economic and investment ones, embodying the visions and aspirations of the leadership of the two fraternal countries.
For his part, the Chairman of the Board of Directors of the Saudi Jordan Investment Fund, Hisham Attar, expressed his appreciation for the efforts of the Jordanian government to support and encourage quality investments and to provide all facilities for their success, underlined the commitment of the Saudi Jordan Investment Fund to work with the Jordanian government and the private sector to explore and implement sustainable and relevant investment opportunities. Value added and development impact.
Attar stressed that one of the main objectives of the Saudi Jordan Investment Fund Company is to contribute to fostering economic growth in Jordan through the creation of quality and long-term investment projects in many vital promising sectors, embodying the vision of the Tutorial. The Holy Mosques King Salman bin Abdulaziz Al Saud and his brother, His Majesty King Abdullah II Ibn Al Hussein, aimed to strengthen economic and investment cooperation between our two fraternal countries.
Attar referred to the objectives of Saudi Arabia Vision 2030 and the strategy of the Public Investment Fund to expand cooperation and economic and investment integration in the region, emphasizing that the company aspires to be a leader in quality investments in Jordan.
One of the main objectives of the healthcare project is to transfer global knowledge and expertise to Jordan, contribute to improving the quality of healthcare and medical education, stimulate medical tourism and improve Jordan’s position in this area, in addition to providing access in medical education aimed at graduating a new generation of physicians, researchers and future leaders in medicine and building outstanding medical competencies in Jordan.
One of the most important features of the project is the focus on scientific research and development in the field of medical sciences. Whereas, 7.5% of the project revenues will be allocated for research and development in Jordan.
The General Manager of the Saudi Jordan Investment Fund, Omar Al-War, said that given the advanced scientific and medical position in the world enjoyed by the two international partners, the healthcare project will offer a high added value to care health and medical education. sectors in Jordan and the region, which distinguishes the University of London, which dates back to 1826, ranking ninth in medicine in the world, in addition to the difference that 30 scientists and its graduates have won the Nobel Prize. since the founding of the university, in addition to the cultural diversity it pursues and spreads among its students, where there are more than 43,000 students representing more than 150 nationalities.
The University of London Medical School is a prestigious international center of excellence in medical education, where teaching medicine has been a major part of the University of London since 1834. The University of London Medical School is closely associated with many of the major teaching hospitals.
Alor added, “We are very pleased to be collaborating with the University of California, Los Angeles Hospitals, which ranks among the top health care institutions in the United States, and the University of London School of Medicine, which ranks consistently among the best. ten medical educational institutions in the world. ”
The CEO of the healthcare project, Dr. Mahmoud Sarhan, indicated that the project will include the establishment of five centers of medical excellence, in order to focus domestic and foreign expertise on the most common diseases in Jordan and the region in the specialties of heart, digestive system, bone, brain and neurology and oncology .
Dr. Sarhan stressed that one of the important objectives of the project is to focus on advanced research through the establishment of four research centers in genetics, target medicine, stem cells, bioinformatics and health systems.
For his part, the General Manager of the Jordan Investment Fund, Zaher Al-Qatarneh, expressed his gratitude to the Saudi Company Jordanian Investment Fund for its continued interest in infrastructure and development projects in Jordan and for the great effort to complete the agreement. emphasizing that the healthcare project is one of the important quality projects that will enrich the medical sector in Jordan.
For his part, His Excellency, the Ambassador of the Kingdom of Saudi Arabia to Jordan, Nayef bin Bandar Al-Sudairy, confirmed the strength of Saudi-Jordanian relations, which enjoy the patronage and interest of the Guardian of the Two Holy Mosques, King Salman. bin Abdulaziz Al Saud and his brother, His Majesty King Abdullah II Ibn Al Hussein, expressing his happiness for the launch of the Saudi-Jordanian Investment Fund as one of his major investment projects in Jordan.
He stressed that the Kingdom of Saudi Arabia is always looking forward to the increase in trade and investment exchange between the two fraternal countries, as the Kingdom of Saudi Arabia is Jordan’s largest trading partner.
US Ambassador Henry T. Worcester stressed the importance of this project and its contribution to economic growth by providing thousands of employment opportunities for Jordanians. Ambassador Wooster stressed the important role that UCLA Hospitals will play in designing and managing the new hospital. He added that this type of technology transfer and knowledge exchange is the best the United States can offer.
The British Ambassador to Jordan Bridget Brind said: “I am pleased that the British Embassy in Jordan has been able to support the establishment of this long-term partnership between the Saudi Jordan Investment Fund and the University of London in the UK, which is one of the best. universities in the UK and around the world.
She stressed that this project, with a total value of $ 400 million, will contribute positively to vital sectors in Jordan, including healthcare and education, as well as its effective contribution to the economy, as it is expected to provide around 5,000 job opportunities.
The Saudi company Jordanian Investment Fund is expected to start construction work on the healthcare project after the completion of the initial engineering projects, which are expected to be ready in the second half of this year.
It is worth mentioning that the Saudi Jordanian Investment Fund Company was established as one of the fruits of cooperation between the Kingdom of Saudi Arabia and the Hashemite Kingdom of Jordan, and as one of the results of the Saudi-Jordanian Coordination Council, which was established on April 27, 2016 and following the Memorandum of Understanding in the field of investment promotion between the Public Investment Fund of the Kingdom of Saudi Arabia and the Jordanian Investment Fund of the Hashemite Kingdom of Jordan, signed on 25 August 2016. The company was registered in March 2017 as a public joint stock company, by law no. (16) of 2016 for the Jordan Investment Fund.
The Public Investment Fund of the Kingdom of Saudi Arabia contributes about 92% of the capital of the Saudi Jordanian Investment Fund, while all Jordanian banks contribute about 8% of the capital of the company.
The signing of the Memorandum of Association and the Statute of the society took place during the visit of the Guardian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud in the Hashemite Kingdom of Jordan on March 27, 2017, in the presence of His Majesty King Abdullah II Ibn Al Al Hussein, in The Hashemite Royal Court in Amman.
The company’s investment strategy focuses on three axes: infrastructure projects based on public-private partnerships in various sectors, new projects in strategic sectors, especially in healthcare and tourism, in addition to expansion capital investments in large and promising Jordanian companies.
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