A number of experts unanimously agreed on the importance of applying governance standards in private sector institutions, which would advance their work and activities in a modern and civilized manner that rises to rational management
. The private sector and its impact on the business environment in Jordan”, with the participation of a large number of economic experts and a number of officials of official institutions
and civil society institutions
. In adopting the idea of ​​strengthening governance in the private sector, as this establishes an important continuity in this field to extend to the rest of the civil institutions and not only advocate public sector governance?
The head of the Amman Chamber of Commerce, Issa Haider Murad, said that countries that implement good governance systems achieve greater success in generating investments, achieving economic growth and providing job opportunities
. Its global average rating is ranked 53 out of 177 countries, which gives reassurance to all segments of civil and institutional society in Jordan, led by investors
. This field, wishing all commercial, service and industrial institutions to reach the institutional stage of work
He added that transparency is a main requirement for good governance, as it helps reduce corruption by enabling observers and citizens to access information, “which makes laws and transactions clearer, while their authors are subject to a greater degree of accountability
. With regard to the private sector, Murad said that information helps Investors, whether local or foreign, should distinguish between more promising business opportunities, and provide them with a better opportunity to manage risks
For his part, the head of the Social Security Investment Fund, Suhair Al-Ali, spoke about many important issues related to the selection of government representatives and representatives of social security in the membership of the boards of directors of companies to which the fund contributes. To activate good governance in the public sector, due to its importance in increasing confidence building between citizens and national institutions, which helps to attract and attract investments to Jordan
. One of the most important roles that affect the application of the principle of good governance is the role of boards of directors in companies
Al-Ali provided a quick overview of the role of the Social Security Investment Fund, and the importance of the Fund lies in managing Jordanians’ funds, totaling 7.5 billion dinars, 28% of which are invested in the stock market (Amman Stock Exchange), including shares of 75 public joint stock companies, whose market value is up to At the end of March 31, 2016, a total of 1.8 billion dinars, and the value of the shares of these companies represented 11% of the market value of the Amman Stock Exchange.
In turn, the Chairman of the Board of Directors of the Jordan Ahli Bank, Dr. Omar Al-Razzaz, expressed his appreciation for the Amman Chamber of Commerce’s initiative to adopt the rules of protection in the private sector. Dr. Razzaz confirmed in a recent interview that the Amman Chamber of Commerce will host this session, as it represents the chamber’s understanding of the link between good governance and the interest of the private sector, despite the prevailing perception of their lack of connection.
He also spoke about the manifestations of applying good governance in (Build, Operate, Transfer) (BOT) projects, and the manifestations of privatization that contradict the issue of governance in the past years, stressing the clarity of the goal of the project, as the partnership between the two sectors is not the goal, but rather a means to achieve The goal
also stressed the importance of looking at the sector, and making sure that there is no monopoly in the public sector in order to avoid creating another similar monopoly in the private sector (for example, the Jordanian Cement Company). The presence of at least 3 operators from the telecommunications sector
, in turn, the head of the administrative body of the Jordanian Transparency Center, Hilda Ajeilat, said that the aim of the symposium is to discuss integrity and anti-corruption mechanisms, stressing that the Jordanian Transparency Center focuses on a system inspired by the anti-corruption law and works in a voluntary capacity in this regard. the field
Ajeilat indicated that the center contributed to bypassing many steps to activate its work and increase its effectiveness and efficiency, as it became a member of several international organizations working in the field of combating corruption and enhancing transparency in the public and private sectors
. It constitutes a basic pillar of society, and acts as a system to help obtain the best information with integrity to enhance the confidence of the investor, the citizen or the institutions with the state. And she added that the success of any government is not only by setting rules and regulations, but by implementing
them on his part. The CEO of STS Computer Technical Services, Ayman Mazahreh, said that in any institution there are clear instructions regarding governance, which enables it to be directed to a professional interest by directing instructions.
He stressed that the most important thing related to the formation of boards of directors for companies, taking into account that the members are full-time and have the same specialization, and that there is a supervisory body and a committee on the performance of the members of the board
, in turn, the former head of the Finance Committee in the House of Representatives, Eng. Pointing to the success stories achieved by companies in the field of governance, such as potash, phosphate, cement and other companies