His Majesty King Abdullah on Tuesday valued a planned $500 million Jordanian-Saudi fund as a resource that would provide more jobs for Jordanians.

He made his remarks as he met Saudi Industry and Trade Minister Hashem Yamani, who is co-chairing the meetings of the two-day Jordanian-Saudi Higher Joint Committee, which started earlier on Tuesday.

The fund, to be officially announced on Wednesday, will be run by a joint holding company that will undertake various services, tourism and industrial projects.

Yamani commended Jordan's investment environment “which has become a model for the region,” and the matrix of laws enacted to attract foreign investments.

He urged the country to further reach out to the business community in Saudi Arabia and encourage them to benefit from the incentives offered by Jordan to incoming investments.

The Jordan Times