Nygard Considers Investing In Jordan

Wednesday 12th, January 2011 / 08:03 Published by

AMMAN – Jordan’s political stability and security, that other countries lack, encourages foreign investors to start businesses in the country, Canadian fashion tycoon Peter Nygård said.

“As a businessman and an investor who has investments around the world the first thing I usually think about is, will my investments be safe?,” Nygård, who concluded a several day visit to the Kingdom, said in an interview with The Jordan Times Monday.

Stressing that Jordan is a safe place for investment, he indicated that he is considering opening between 10-15 retail stores in Amman.

His first ever visit to the Kingdom, included meetings with senior government officials including HRH Princess Dina Mired, the director general of King Hussein Cancer Foundation (KHCF), Minister of Industry and Trade Amer Hadidi and Labour Minister Samir Murad, as well as Jordan Investment Board CEO Nasser Sunna, according to Dina Khayyat, deputy director general of Ad Dulayl Industrial Park.  During the meetings, Khayyat said Nygård was briefed on the legislations governing the labour sector in Jordan as well as the Free Trade Agreement between Jordan and Canada.

“The meetings were fruitful and beneficial for both sides,” she said. “He was impressed when he was briefed by officials with the incentives legislations offer to investors and the potentials of the local market and the qualified human resources Jordan has.”

The Canadian businessman promised to push the speed up of the implantation of the FTA Jordan and Canada reached, which is currently pending endorsement by the Canadian parliament.

Although his visit mainly aimed at exploring investment opportunities in the country, the fashion tycoon, insisted on sparing some of his time to tour some of the Kingdom’s attractions.

Nygård, owner and founder of NYGÅRD International, one of the biggest 50 women’s clothing companies in the world that employs over 12,000 people, arrived in the Kingdom on Friday, visited Petra, where he stayed over night, and the Dead Sea.

“It was one of the most beautiful archaeological sites I have ever been to. The people were very welcoming and generous and the city itself was breathtaking,” he said, noting that he also toured several retail stores in Amman.

The visit came as part of an international tour which also included Egypt, the UAE and Thailand among other countries.

Source: Nygard.com

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