Jordan’s foreign investments decline; regional competition heats up

amman abdali
(File photo: Jordan News)
AMMAN — According to statistics from the Central Bank of Jordan, the direct foreign investment flow decreased by 30 percent in the first quarter of this year compared to the same period last year. Investments reached JD200in contrast to the JD288 million in the first quarter of 2022. اضافة اعلان

This decline comes even after the enactment of the Investment Environment Law, which took effect in mid-January this year. The government had placed significant expectations on this law to amplify foreign investment inflows, especially following the launch of the Economic Modernization Vision. This vision aimed to attract more than $41 billion dollars in investments starting from this year and continuing until 2033.

The persistent decline in recent years' foreign direct investment signals governments' struggle to attract investments and compete regionally. Notably, Egypt, Saudi Arabia, and the UAE have seen significant increases. For instance, Egypt's net foreign investment rose by 73 percent in H1 this year to $5.7 billion, Jo24 reported.

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