Industries account for 60% of investments

Workers are seen at a garment factory in Jordan in this undated photo. (Photo: Jordan News)
(File photo: Jordan News)
AMMAN — The industrial sector accounted for 60 percent of total investments flowing into the Kingdom during the first half of 2022, with a value that exceeded JD243 million, and a total number of 122 new projects, according to Khaberni. اضافة اعلان

The figures were based on Ministry of Investment statistics indicating that the industrial sector continues to lead other economic sectors in terms of attracting new local and foreign investments whether local or foreign.

President of the Jordan Chamber of Industry Fathi Al-Jaghbir stressed the role of industry in driving economic growth, attract investments and provide job opportunities.

He pointed to the role of the Chamber of Industry and the industrial sector in drafting the new law regulating the investment environment.

Jaghbir noted that the new industrial investments have provided more than 7,000 job opportunities, constituting 72.2 percent of the total job vacancies created during that period.

He said that the average number of job opportunities created in one project in the industrial sector is about 55 jobs, while for other economic sectors the average is about 32 jobs per project.

Meanwhile, the Ministry of Investment announced that the volume of total investments benefiting from the Investment Law during the first half of 2022 had increased by 69 percent to JD405.3 million, compared to JD239.7 million during the first half of 2021.

It said that the number of projects benefiting from the investment law were 202 new projects, expected to create approximately 9,000 job opportunities.

The volume of local investments amounted to JD300.6 million, constituting 74.2 percent of the total investment volume, while the volume of foreign investments amounted to JD104.7 million, constituting 25.8 percent of the total investment volume.

Investments outside the development areas accounted for 94.3 percent of the total volume of investments, with an investment volume of JD382.1 million, while investments within the development areas accounted for 5.7 percent of the total volume of investments at JD23 million.

Regarding the distribution of investments during the first half of 2022, the industry sector took the largest share at about 60 percent with an investment volume of JD243 million while the tourism sector received JD97.8 million, or 24.1 percent of the total.

The share of hospitals and specialized medical centers was JD35.5 million, or 8.8 percent and agriculture with JD18 million, or 4.4 percent. 

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