Jaghbir: Industry sector up to JD7.33 billion in a quarter of century

Amman - Jordan and Amman Chambers of Industry President Fathi Jaghbir said Saturday that the sector has achieved key milestones in the past 25 years under the reign of His Majesty King Abdullah as the national industry gained access to over one billion and a half consumers in 151 markets worldwide.اضافة اعلان

The industrial sector's added value was up from about JD1 billion in 1998 to JD7.33 billion in 2023 that was reflected in its contribution to GDP from approximately 19% to 21.4% in 2023, which enabled the sector to be strategic, promising and leader in the national economic development effort, Jaghbir said in remarks to Petra to mark the King's silver jubilee.

The number of industrial establishments increased from 4,000 in 1999 to more than 18,000 across the governorates of the Kingdom, underscoring the Kingdom's leadership's efforts in attracting foreign investments and boosting the investment environment, said Jaghbir.

The national industry today attracts both local and foreign capital, with an investment volume of about JD15 billion and a registered capital of facilities of more than JD4.6 billion, he added.

He said a key achievement under the King's leadership was setting up the Jordan Chamber of Industry in 2005 as a national body encompassing all industry chambers in the Kingdom.

His Majesty, he noted, has repeatedly emphasized in local and international forums the national industry's potentials and capacity that qualified it to be a regional hub for strategic industries, which was obvious in the vision of economic modernization that placed industry top of high value sectors in achieving the vision's goals and enhancing economic development.

The economic vision, he said, considered industry as a key pillar of comprehensive and sustainable growth with a view to raising the sector’s productivity from JD5.3 billion to about JD11.1 billion by the year 2033, and an increase in exports from JD4.8 billion in 2021 to about JD19.8 billion by the end of 2033, with the sector accounting for nearly a third of the job opportunities targeted by the modernization scheme and a labor force of 314,000.

The King’s efforts and diplomacy, he added, led to Jordan signing a host of international agreements and partnerships in the past years, which impacted the sector's indicators, he pointed out.

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