EMV is ‘most prominent’ economic event for 2022

Economic Modernization Vision
(File photo: Jordan News)
AMMAN — The Economic Modernization Vision (EMV) was the most prominent economic event in 2022, as it has outlined the course of the national economy in the next 10 years, the Jordan News Agency, Petra, reported on Sunday. اضافة اعلان

The cross-sector vision, launched under Royal directives, aims to address and solve the biggest challenge facing the national economy, job creation. In the second quarter of this year, the unemployment rate in the Kingdom stood at 22.6 percent. EMV aims to increase jobs from 1.6 million to 2.6 million in the next decade.

The vision stems from the findings of the national economic workshop held at the Royal Hashemite Court and is based on accelerated growth and improving the quality of life through a sustainable approach. It covers eight economic growth drivers, focusing on 35 main and sub-sectors and including more than 366 initiatives and 10 KPIs.

Four entities will be responsible for implementation within a sequential and phased time frame at the cost of JD41 billion.

His Majesty King Abdullah, in a letter to the Jordanian people on his 60th birthday, underlined his keenness to support economic reforms, saying: " I can see our future clearly — a bright future where we fortify our security and stability, and move ahead on the path of development towards further excellence, achievements, and innovation; a future where we reclaim our leadership in education, advance our economy, and bolster our public sector’s efficiency and capacity; a future in which our private sector thrives, with opportunities increasing fairly to counter poverty and unemployment, and curtail inequality; a future that empowers our youths to soar in the skies of innovation.”

The private sector, which actively participated in developing the Economic Modernization Vision, hopes that its participation in implementing the vision will be impactful.

Chairman of the Jordan and Amman chambers of industry, Fathi Al-Jaghbir, said, “The vision reflects the private sector's perspective on the most significant challenges and obstacles to the development of various economic activities.”

He added, “The responsibility for success lies mainly with the government, and it must seek to provide all avenues and remove obstacles to all sectors”.

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