Jordan Strategy Forum held the first trilateral meeting on July 27 at its premises; the meeting consisted of Oasis500 represented by CEO, Dr. Yousef Hamidaddin and COO Mr. Abdelmajeed Shamlawi, “Mubadara” Parliamentary Group represented by Dr. Mustafa Hamarneh and JSF represented by CEO, Dr. Ruba Jaradat.  Oasis500 is a leading early stage and seed investment company, the first of its kind in Jordan and the MENA region. The meeting aimed at discussing the economic challenges encountered by the SMEs in Jordan from company’s establishment and registration, to bank financing and other official procedures required in dealing with the official entities.      The meeting was inaugurated with a welcoming note by CEO, Dr. Ruba Jaradat who highlighted the importance of this joint initiative held by each of JSF, Oais500 and “Mubadara” for improving the legislative environment of SMEs. On his part, CEO Dr. Yousef gave an overview about the origin of Oasis500 as a funding organization for the preliminary stages of start-ups where creativity is a crucial factor in the selection criteria of start-ups applying for funding. Noticeably, Dr. Hamidaddin referred to Jordan’s ranking on the top of the countries global’ list on the creativity index; however, Jordan suffers on other important indices such as attracting foreign companies for investment and foreign direct investment indices. Dr. Yousef further referred to the leading initiatives of Oasis500 in attaining preliminary funding for start-ups through partnerships with the European Space Agency and local private sector companies.                       Moreover, Dr. Jaradat inquired about how Oasis500 classifies the main contemporary challenges faced by start-ups and SMEs in Jordan. Dr. Hamidaddin stated that property registration, companies’ valuation, good-will tax imposed on property transfer and access and exist of capital are considered of the main contemporary issues for Start-ups and SMEs. Subsequently, Dr. Ruba shed the light on the pressing economic and investment laws that directly affect the success or failure of SMEs, including solvency and bankruptcy law, investment law, transferred property and tax laws. Dr. Ruba also referred that a Credit Bureau is currently being established in Jordan that should be able to facilitate access to loans by start-ups and SMEs. Dr. Jaradat inquired of the attendees to discuss how they see a working methodology in place that would provide the necessary recommendations for amending the laws governing the business environment for SMEs. In other words, whether setting a separate law that will govern SMEs covering all pressing issues in the business environment, or is it better to conduct pressing amendments for all laws governing the business environment, where articles or additional paragraphs would be adjoined to the law to make it applicable to SMEs. At this point, Dr. Hamarneh of “Mubadarah” stated that it would be easier to adjust the pressing amendments by including certain law articles covering SMEs. Oasis500 welcomed the suggestions of the two parties in this regard. Accordingly, Dr. Hamarneh suggested the provision of one batch of recommendations and legislative amendments that will be capable of treating all contemporary challenges facing SMEs in Jordan as well as to continue holding regular debate sessions for the period from October 2015 to July 2016. Dr. Hamarneh stressed the importance of encouraging start-up companies who are capable of creating diverse job opportunities that can alleviate the national unemployment predicament and to include clear job creation objectives in their business strategies. On his part, Dr. Hamidaddin referred to the need for Jordan to establish economic platforms that are capable of encouraging export and e-commerce processes. Finally, Dr. Jaradat speculated that the working methodology would include adding law articles and necessary amendments to the economic and investment laws currently in force, rather than starting an SME law from scratch due to the prolonged process of the later approach, especially that local laws tend to be ambiguous and open to multiple interpretations when enforced by officials of state. In the end, all parties agreed to examine international best standards prevailing such as standards followed in the Turkish legislations and The Dubai International Financial Centre that seeks to reward creativity.