Investment law yields 47.6% surge in total investments - H1 2023

Ministry of Investment
Ministry of Investment. (File photo: Jordan News)
AMMAN — According to data released by the Ministry of Investment on Sunday, the total investments benefiting from the Investment Environment Law soared by an impressive 47.6 percent, reaching JD598.2 million, compared to JD405.3 million recorded during the same period in 2022.اضافة اعلان

During the initial six months of the year, 236 investment projects tapped into the advantages offered by the Investment Environment Law. These projects are forecast to create a substantial workforce, estimated at approximately 15,200 job opportunities, based on studies presented by the investors, Jordan News Agency, Petra reported.

Investment breakdowns
Noteworthy in the report was the remarkable growth witnessed in expansion projects that reaped the benefits of the Investment Environment Law. Their collective investment volume amounted to JD307 million, reflecting a substantial 51 percent share of the total investments during H1 2023. Furthermore, these projects are poised to generate nearly 10,600 job opportunities.

Concurrently, newly initiated investments supported by the law amounted to approximately JD291.1 million, forming 49 percent of the total investments during the period. These fresh investments are anticipated to provide around 4,600 job opportunities.

The distribution of investments across diverse economic sectors showcased an evident prominence of the industrial domain, garnering a lion's share of approximately 71 percent of the total investments. Within this sector, investments amounted to JD422.1 million.

Following closely, the trade sector secured 17 percent of the investments, translating to a substantial JD100 million. The tourism sector, holding significant promise, garnered 5.5 percent of the investments, amounting to JD34.4 million.

The remaining sectors and economic activities, encompassing services, artistic production, agriculture, information technology, hospitals, medical centers, research, and development, collectively constituted approximately 6.5 percent of the total investments.

Regarding the distribution of investments benefiting from the Investment Environment Law during the first half of 2023, it was confirmed that the investments outside the development zones amounted to a total of JD555.9 million, constituting 92.9 percent of the total investments, with 206 investment projects. Meanwhile, investments within the development zones reached JD42.3 million, accounting for 7.1 percent of the total investments, with 30 investment projects.

Streamlining processes
The ministry introduced various promotional and marketing tools including the launch of the pioneering platform Invest.Jo in Jordan. This digital platform serves as a repository of valuable information for investors, featuring 21 investment opportunities valued at around JD1 billion. Additionally, the platform highlights eight priority investment sectors.

The ministry's endeavors to streamline processes and facilitate investors' experience materialized through the full automation of 95 services pertaining to economic activities licenses. This initiative aims to expedite procedures, ensuring swift and efficient service delivery.

As Jordan sets its sights on continued economic growth, the Ministry of Investment remains steadfast in its mission to empower existing investments, encourage expansion, and attract fresh investments across key sectors, including information technology, medical tourism, pharmaceuticals, life sciences, healthcare services, food industries, textiles and apparel, agriculture, logistics services, chemicals and fertilizers, and the film industry.

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