AMMAN — According to Minister of
Investment Kholoud Saqqaf, foreign direct investments (FDIs) are continuously
flowing into the Kingdom, while the country's industrial sector still has
“plenty of room” for more foreign capital, the Jordan News Agency, Petra,
reported.
اضافة اعلان
During a meeting hosted by the
Jordan Chamber of Industry on Tuesday, Saqqaf stressed that the Investment Ministry is
committed to working with the private sector, empowering local and foreign
investors, and attracting further foreign investment.
Official statistics show that FDIs
benefiting from the Kingdom’s Investment Law increased to JD137 million in
2022, up 98.3 percent from the JD69 million recorded in 2021.
Meanwhile, the total value of projects
seeking to utilize the
Investment Law rose to JD1.1 billion in 2022, up from
JD621 million the year before.
Investment facilities, guidelinesThe minister also explained the various
incentives and tax breaks that the Investment Law provides to current and
potential investors.
Official statistics show that FDIs benefiting from the Kingdom’s Investment Law increased to JD137 million in 2022, up 98.3 percent from the JD69 million recorded in 2021.
An
investor in the Kingdom may hire up to
25 percent non-Jordanian staff in managerial and technical positions that call
for special education or experience, she said. Investors may also employ
foreign nationals — up to 40 percent of the total workforce — if qualified
Jordanian workers are not available to fill specialized positions.
The national role of the industrial
sectorSaqqaf explained that industrial investment
is crucial to the Kingdom's economic growth because it helps diversify exports,
reduces reliance on costly imports, and boosts the value of exports, all of
which are necessary for sustainable local development.
Fathi Jaghbir, president of the Jordan and
Amman Chambers of Industry, said that the industrial sector contributes over 45
percent of
Jordan’s GDP, which demonstrates its strategic importance. The
sector employs over 268,000 people (most of whom are Jordanians) and accounts
for more than 94 percent of the country's total exports.
In 2022, Jaghbir said, industrial projects
generated an average of 53 new jobs per project, while all other sectors
averaged approximately 43 new jobs per project.
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