1,800 companies exited Jordan market in 2022 — official

Boulevard abdali amman
(File photo: Jordan News)
AMMAN — In 2022, 1,800 companies exited the Jordanian market, while 3,000 remained, according to the companies general controller at the government’s Companies Control Department (CCD), Wael Al-Armouti.اضافة اعلان

When a company is insolvent, that does not mean it is bankrupt, Armouti explained to Al-Mamlaka TV. Rather, insolvency points to a company’s inability to pay its debts, or a state in which its liabilities have exceeded its assets.

Meanwhile, last year, 1,085 companies raised their capital, and more than JD300 million in capital was recorded, he said.

The CCD “has greatly simplified all procedures for registering companies”, Armouti added. Thanks to legislative amendments, registration can now be completed within a matter of hours. 

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