SETP Objectives

The SETP is an investment in reforms that was designed with the main objective of achieving social and economic development by, inter alia, reducing poverty and unemployment, in order to improve the quality and standard of living of all Jordanians by setting time-bound projects to better address their basic social needs such as health care, education, water, and rural development. The SETP is meant to establish a new socioeconomic operational methodology through timely implementation of the reform agenda of the GOJ, combined with a targeted approach to spurring investments. The approach aims at initiating a sustainable progression through the realization of positive change, with limited impact on macroeconomic stability, and the strengthening of Jordan's credibility with the international financial community. The objectives of the SETP include:

• Improving the quality of life for Jordanians, through reducing unemployment and poverty, and effecting change in the areas of human resource development, basic government services, rural development and poverty alleviation; and institutional and structural reform;
• Activating the role of private capital in the economy, through further institutionalizing the public-private partnership, providing the legal and institutional framework conducive to increased investment in the economy, and accelerating the privatization process;
• Ensuring that the GOJ adopts more responsive, efficient and timely decisions-making processes;
• Undertaking policies that strengthen Jordan's credibility with the international financial community; and
• Ensuring that policies taken do not jeopardize macroeconomic stability.

SETP Components

The SETP is therefore comprised of three main components, which encompass:

1. Private Investments:  this component aims to identify the measures that ought to be taken to accelerate the implementation of major development projects and privatization schemes.  The underlying goal is to enable the private sector to assume a leading role in the development process.  In this regard, the Government of Jordan completed the action plan and time table for the implementation of each project to be undertaken by the private sector.
2. Critical Enablers (legislation, policies, and regulatory framework): the program identified the main legislation and policies that need reform, and put in place a clear work plan and timetable. To this end, a large number of laws and regulations were either amended or newly passed in order to enhance the investment climate and align the legislative environment with the requirements of the evolving global trends.
3. Public Investments: this component works to channel qualitative investment into Human Resource Development, Basic Government Services, Rural Development & Poverty Alleviation, and Institutional & Structural Reform.  The budget requirements of the Public Investment component are illustrated in table 1 below.