Industrial sector annual production capacity reaches JD18 billion

The Chambers of Industry of Jordan (JCI) and Amman (ACI). (Photo: Twitter/X)
AMMAN – The President of the Chambers of Industry of Jordan (JCI) and Amman (ACI), Engineer Fathi Al-Jagheer, confirmed that the industry continues to be the most attractive economic sector for local and foreign investments, thanks to the high level of confidence it enjoys reaching a total capacity value of JD18 billion.اضافة اعلان

According to Hala News, Jagheer stated that the industrial sector achieved the highest value of total investments benefiting from the Investment Environment Law from the beginning of the current year until the end of last September, reaching around JD565 million dinars, accounting for 64 percent of the total investments in various economic sectors.

It is noteworthy that the volume of investments benefiting from the Investment Environment Law in the Kingdom has increased by 34 percent since the beginning of the current year until the end of last September, reaching about 879 million dinars, compared to 657 million dinars for the same period last year.

He further stated, "This also confirms that the industrial sector possesses investment potentials and attractive incentives, reflecting the intensive efforts made during the past period."

Regarding the economic performance during the current year, Jagheer mentioned that the national economy achieved a growth rate of 2.74 percent during the first half of 2023 compared to the same period last year, despite facing some challenges. The industrial sector ranked first in terms of its economic contribution, accounting for 21.5 percent, driven by the positive performance of its indicators.

He emphasized that the industrial sector has many untapped opportunities estimated at around 4.4 billion dollars, focusing on fertilizer products valued at one billion dollars, chemical industries at 726 million dollars, textiles at 560 million dollars, pharmaceutical industries at 461 million dollars, and mineral resources at 328 million dollars.

Jagheer also stressed the need to expedite the gas pipeline project to various cities and industrial zones to reduce costs, enhance competitiveness, and promote sustainable development, alternative energy, and investment in renewable energy. This aims to achieve energy independence and environmental sustainability, along with providing incentives to attract more local and foreign investments.

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