The Saudi Jordanian Investment Fund (SJIF) held its Fifth Annual General Meeting on Thursday, April 21, 2021, by teleconference, pursuant to Defense Law No. (13) of 1992, Defense Order No. ( 5) of 2020, and the instructions issued by the Minister of Industry, Trade and Supply on April 9, 2020.
The meeting was chaired by Mr. Hisham Attar, the Chairman of SJIF, and was attended by all of the company’s shareholders, its Board of Directors and senior management, as well as the Comptroller General of the Companies, Dr. Wael Armouti, and outside the company. auditors, KPMG.
At the meeting, shareholders were updated on the progress of SJIF’s investment projects and plans for 2022.
In his remarks at the meeting, Attar reaffirmed the company’s commitment to supporting Jordan’s economic growth through long-term investment projects in strategic sectors that have sustainable economic and development impact. , stressing that this commitment reflects the visions of the leaders of the two countries, and the Saudi Vision 2030, as well as the strategy of the Public Investment Fund (PIF) which aims to strengthen bilateral economic cooperation.
He pointed to SJIF’s investment mid-last year in OpenSooq, one of the region’s leading mobile classifieds marketplaces, as the investment to support OpenSooq’s expansion plans in the marketplace. regional.
Attar reported that SJIF is currently in the final stages of signing agreements with the Jordanian government and international partners, to implement its $400 million healthcare project, which will consist of a general teaching hospital comprising 300 beds and a medical university with a total capacity of 600 students and an expected annual intake of 100 students.
He noted that the company is considering a number of projects and investment opportunities in vital sectors, including infrastructure, tourism, education and energy, among others.
The General Assembly then discussed and approved the report of the Board of Directors and the audited annual financial statements for 2021. The General Assembly also approved the release of the Board of Directors from all liability for the financial year ended 31 December 2021 and the appointment of KPMG as external auditors for the 2022 financial year.
The Saudi Jordanian Investment Fund is a Jordanian public limited company established in 2017 as a partnership between the Saudi Arabian Public Investment Fund, which owns approximately 92% of the company, and 16 Jordanian banks, which own the 8 % remaining. The company was registered under the Jordanian Investment Fund Law No. (16) of 2016, and its formation is the result of the Saudi Jordanian Cooperation Council and the Memorandum of Understanding signed between the public investment fund of Saudi Arabia and the Jordanian investment fund on August 25. , 2016.
The memorandum of association and the statutes of the society were signed during the visit of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, to the Hashemite Kingdom of Jordan on March 27, 2017, in the presence of His Majesty the King Abdullah II, at the Royal Hashemite Court in Amman
SJIF’s investment strategy focuses on three vertical sectors: infrastructure projects based on a public-private partnership (PPP) framework, strategic sectors such as healthcare, information technology and tourism, and growth capital investments supporting the expansion of promising Jordanian companies.