AMMAN — The Companies General Controller Wael Al-Armouti, has revealed an encouraging trend in the business landscape. Capital investments in companies have soared by around JD350 million during the first half of this year.
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During a recent interview on Jordanian TV, Armouti shared insights into the thriving entrepreneurial scene. He reported that a staggering 2,800 companies had registered with the Companies Control Department in the same period, marking a 14 percent increase compared to 2019, Hala News reported.
Impressively, a significant portion of these registered companies, accounting for 58 percent, have remained active in the market. Conversely, 42 percent have exited, resulting in an overall positive outlook. This stands in stark contrast to the first half of 2019 when the percentage of remaining registered companies was at a low -5 percent.
Surge due to digital advancements
The surge in company registrations can be attributed to the seamless transition into the digital era. The implementation of electronic processes has significantly facilitated registration, particularly for budding entrepreneurs and startups. Solidarity companies can now complete their registration within a single day, while limited liability companies require only two to three days.
Notably, the majority of the companies registering with the Companies Control Department during the current period operate within the services, information technology, agriculture, industry, and trade sectors.
The department's commitment to collaboration with the private sector is evident through their daily interactions, continuous communication, and consultative approach within the legislative framework. The government, for its part, is actively engaged in leveraging its available resources to foster stronger cooperation with the private sector.
Looking ahead, he expressed optimism regarding Jordan's standing in global economic reports. He emphasized that ongoing legislative developments will contribute to advancing Jordan's international classification.
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