Amman, April 16 (Petra) --Saudi Cabinet approved a memorandum of understanding (MoU) signed by Jordan’s Ministry of Investment and Saudi Arabia’s Economic Cities and Special Zones Authority to cooperate in developing economic zones, underscoring the "depth" of bilateral economic ties.

In a statement Thursday, Minister of Investment Tareq Abughazaleh said the MoU reflects an "advanced" stage of Jordanian-Saudi economic and investment partnership and opens "broader" prospects for boosting investment and achieving shared interests.

The agreement, signed in October last year in the presence of Abu Ghazaleh and his Saudi counterpart Khalid Al-Falih, marks progress in bilateral economic cooperation and paves the way for activating new areas of technical and regulatory expertise exchange.

As for its goals, the MoU aims to enhance "competitiveness" of economic zones and expand cooperation in key sectors, including energy, transport, logistics, tourism, and advanced technologies, under a joint action plan implemented in coordination between both sides.

Economic indicators highlight the robust cooperation, as Saudi Arabia ranked the top investor in Jordan in 2025, accounting for 16.1 percent of total foreign direct investment inflows, which reached about $2.02 billion.

These data indicate that this figure is the highest level since 2017, reflecting "growing" investor confidence and attractiveness of the Kingdom’s investment environment.

//Petra// NQ