Under the prudent leadership of H.M King Abdullah II, Jordan has embarked on a set of financial and judicial reforms aimed at encouraging larger involvement of the private sector and transforming the role of the government from that of a domineering actor in the economy, to that of a regulator and ultimately a stimulator in competitive markets providing a level playing field for the private sector to lead the process, as well as attracting foreign direct investment. To this end, the Government of Jordan has initiated a rigorous privatization program aimed at freeing up tied investments and labor, inculcating business incentives and motivation, attracting foreign direct investment, and developing the financial market. Since 1998, ten privatization transactions have been successfully completed and many more are in the pipeline. The new Privatization Law stipulates the use of privatization proceeds to repay loans owed by the privatized firms to the government and finance economic and social development projects.