Senate President Faisal Fayez on Thursday called for addressing all issues that hinder the Kingdom’s local and foreign investments, urging decision makers to undertake "bold moves” in this arena.

Speaking during a meeting of the Senate's Finance and Economy Committee over the 2021 state budget draft law and the draft for the year’s budgets of independent public institutions, Fayez highlighted the importance of speeding up response to the unprecedented challenges the Kingdom is experiencing, mainly as a result of regional instability. 

Highlighting the need for political reform, Fayez said that the economic challenge is the most prominent one amid the pandemic that affects citizens’ lives, the Jordan News Agency, Petra, reported.

He also called for adopting applicable economic policies and programmes, within specific timetables, towards increasing growth figures, alleviate poverty and unemployment, via launching megaprojects that recruit the local workforce.

During the meeting, he highlighted a number of megaprojects, including renting state-owned arable lands to citizens, railways, the national water conveyance project from the Red Sea, recycling, oil refinery expansion, as well as projects related agricultural industries and nontraditional agricultural products.