Change is now: AVID at Expo 2020 Dubai

Expo 2020 Dubai, the first world exposition ever hosted in the Arab region, is one of the most significant trade shows. Which brings together over 180 countries worldwide under the motto “Connecting minds, Creating future”.

Delivering a keynote address during Amman Day at the Expo, on investment opportunities’ session, His Excellency Dr. Yousef Al-Shawarbeh, Mayor of Amman, pointed out that the municipality has launched its investment and development arm Amman Vision Investment and Development Company (AVID). AVID aims to enhance economic development through projects that the city, citizens, and investors need, by boosting revenues away from fees and taxes for investors.

AVID has launched a huge marketing-awareness campaign to attract foreign investments from all over the world, by holding various business-to-business (B2B) meetings and also showcasing vast investment opportunities on a global platform. The discussions during Amman Day were focused on the company’s sectorial advantages and policy framework, taking into consideration challenges faced by the investors in multiple sectors.

Mr.Hamza Haj Hasan, CEO of AVID, spoke at length about the company’s role, goals, and vision. Pointing out many advantages that Jordan’s investment environment offers to foreign investors.

Highlighting major benefits the public-private partnership approach has for both sectors, Mr.Haj Hasan said that this kind of approach allows investors to achieve more efficiency in work planning, risk management, lifecycle cost, and innovation. Applying this unique partnership will also serve the Kingdom’s public sector in addition to reviving the country’s economy.

Several investment opportunities presented by AVID were also discussed during the session, such as direct lease, revenue, and profit-sharing, equity share in specific strategic projects, and Build–Operate–Transfer (BOT) projects to achieve investment returns through sustainable projects that keep pace with Jordan’s modern and contemporary scene.

Mr.Haj Hasan also indicated that the company provides two significant forms of investments. The first form is through representing a batch of investment projects that are economically feasible for investors. The second form is having direct negotiations with AVID for distinguished projects.

Furthermore, the CEO represented eight investment projects launched by AVID; Motor City in Al-Madouna, which brings together the new and used cars’ agents and dealers, in addition to the accompanying services for car dealing in one location, others are distributed among commercial, mixed-use, recreational tourism, and hotels, such as an international convention and exhibition center project, a hotel, a medical complex, multi-use complexes, the Dabouq gate project, recreational and tourist projects on the airport road and many others projects.

Moreover, Haj Hasan introduced the Abdoun Investment  Corridor project, with an area of 592,000 square meters along two kilometers of the Abdoun Corridor area. The project features a modern, well-studied design and presents a number of multi-purpose projects in addition to residential, commercial, health, recreational and other uses that are specifically designed for the unique geographical location of the project, with a total investment of $1.5 – $2 billion.

“Amman is spreading its arms welcoming investors,” said Haj Hasan, inviting investors to the unique and beneficial opportunities granted by AVID.