Amman: The Cabinet endorsed a comprehensive economic reform package during Wednesday's session, approving the 2025 Cooperation Law and amendments to the Customs Law that form cornerstones of Jordan's economic modernization vision. Under Prime Minister Jafar Hassan's chairmanship, ministers approved the Cooperation Law establishing a Cooperative Development Fund to finance the sector and support small and medium enterprises, particularly in agriculture.
According to Jordan News Agency, the legislation creates a dedicated Cooperative Development Institute to cultivate management expertise while introducing governance provisions that protect member rights and ensure operational sustainability. "The law will strengthen the cooperative sector as an economic lever through regulated external funding channels and streamlined registration procedures for specialized unions," stated the Cabinet, highlighting provisions to enhance women's participation and integrate persons with disabilities.
Customs Law amendments received simultaneous approval, authorizing the department to implement clearance procedures through specialized personnel with regulatory oversight within customs centers. The revisions empower officials to conduct post-clearance audits aligned with World Customs Organization methodologies while introducing electronic notifications and remote inspection capabilities to accelerate trade flows.
In the financial technology sphere, ministers approved the rationale for the Virtual Assets Trading Law just one month after establishing a regulatory framework for digital assets. The legislation creates transparent oversight mechanisms that balance innovation with stability through compliance with international anti-money laundering standards.
Foreign investment incentives featured prominently with the elimination of the JD10,000 deposit requirement for property owners seeking residence permit renewals, provided they maintain ownership and have completed two years of previous residence. Non-property owners will benefit from deposit reductions from JD20,000 to JD10,000, measures expected to stimulate investment inflows.
The Cabinet exempted the Jerash Environmental Tourism City project from sales tax, designating it as an "agricultural, tourism, heritage, and environmentally-friendly city" rather than an industrial complex. The Jordan Industrial Estates Company will partner with the Royal Society for Nature Conservation as sub-developer, with provisions for local community consultation.
Other key decisions included settling 793 tax disputes between businesses and the Income and Sales Tax Department, exempting Syrian trucks from fees under reciprocal treatment agreements, advancing an exhibition grounds project, and approving maintenance for vital transportation corridors including the Sakna-Shouneh road and Wadi Shuaib expansion.
The Cabinet endorsed amendments to Islamic Awqaf law, restructured Housing Corporation regulations, and approved international partnerships with UNFPA through 2027 and Morocco for a multidisciplinary vocational training center focusing on digital technology, healthcare, engineering, automotive maintenance, and hospitality sectors.