Amman – Experts in economic affairs affirmed that Jordan’s Economic Modernization Vision has evolved from being merely a strategic document into a concrete, time-bound, and measurable program, paving the way for implementing major projects.
اضافة اعلان
Officials told the Jordan News Agency (Petra) that the coming years (2026–2029) represent a reasonable timeframe for citizens to witness the tangible impact of initiatives under the second executive program currently being prepared by the government.
They emphasized that the program must rely on solid implementation pillars, ongoing monitoring, flexibility to address challenges, and participatory collaboration with the private sector.
Planning and Participation
The preparation of the second phase of the vision involved intensive sessions and workshops held at the Royal Court, followed by specialized meetings at the Prime Ministry, reflecting a serious and participatory planning approach among various state institutions. Experts highlighted the importance of addressing production costs, especially energy and transport, to enable economic sectors to expand output, grow businesses, and generate employment opportunities.
Fathi Al-Jaghbeer, Chairman of the Jordanian Chambers of Industry in Amman and Jordan, stressed that the next phase (2026–2029) builds on past achievements while addressing emerging challenges, ensuring that economic modernization continues as a cumulative and ongoing process. He noted that the first executive program had already delivered tangible progress in legislative reforms, infrastructure, digital transformation, investment incentives, export growth, and strengthening industrial competitiveness.
Al-Jaghbeer added that the upcoming program will expand on these results, moving from limited pilot initiatives to broader, sector-wide implementation, allowing citizens and investors to experience the benefits of modernization through projects that have practical impacts on services, economic opportunities, and quality of life.
Sectoral Focus and Private Sector Engagement
Nabil Al-Khatib, head of the Jordanian Logistics Syndicate, emphasized that the second phase focuses on deep execution of major projects, particularly in productive sectors such as transport, logistics, tourism, industry, IT, and energy, aiming for tangible growth and employment generation. He affirmed strong political will and direct oversight by King Abdullah II, coupled with clear monitoring mechanisms and periodic progress disclosures, highlighting transparency and accountability.
Banking Sector Role and Strategic Investments
Dr. Maher Al-Mahrouq, Director General of the Jordanian Banks Association, noted that workshops and discussions at the Royal Court and Prime Ministry demonstrated real commitment and effectiveness in executing the vision, ensuring measurable economic growth and social impact.
Al-Mahrouq highlighted key initiatives, including the establishment of Jordan’s first and largest bank-owned investment fund with a capital of JD 275 million to invest directly in promising local companies, and the launch of the “Professional Real Estate Development Company” to provide high-quality, competitively priced housing.
He also noted that Jordanian banks allocated JD 90 million to support health and education sectors, launched a JD 200 million program for first-time homebuyers, and donated JD 2 million to the Ministry of Social Development as part of their social responsibility efforts.
Green Finance and Financial Inclusion
The banking sector is actively participating in green finance, issuing green bonds for environmentally sustainable projects, and promoting financial literacy through platforms targeting youth, women, and entrepreneurs.
Al-Mahrouq emphasized that the core objectives of the Economic Modernization Vision are improving citizens’ living standards, creating jobs, and facilitating services. Its success is measured not only by growth rates or investment volumes but by tangible social and service outcomes.
He concluded that the implementation of the vision will continue with full seriousness, transparency, and accountability to achieve the best possible results and core objectives.
—(Petra)
