The first economic retreat took place at the Dead Sea during 26-27 November 1999 at the invitation of His Majesty King Abdullah II and with the participation of more than 160 public and private sector experts. The retreat focused on discussing all required foundations and bases to achieve sustainable economic and social development. Participants generated a large group of recommendations on the following key topics:

• First pillar: Policy of openness and economic modernisation
• Second pillar: Financial reform
• Third pillar: Administrative reform
• Fourth pillar: Legislative amendments
• Fifth pillar: Education and higher education policies

King Abdullah immediately ordered formation of an Economic Consultative Council to study the recommendations adopted by participants in the retreat, which focused on the following issues:

1. Identify and unify the two-day weekend holiday
2. Strengthen the role of banks in economic development
3. Make Aqaba a special economic zone
4. Administrative reform
5. Formulate a strategy for the tourism sector
6. Improve standards of vocational training and higher education
7. Discuss private sector recommendations regarding suggested legal amendments
8. Encourage private health services
9. Raise standards of the public school curriculum to include English language and computer skills
10. Electronic government (e-government)
11. Privatisation strategy
12. Capital markets
13. Reducing the deficit over the next three years
14. Judicial reform