Day: October 1, 2022

Minister of Investment Khairy Amro said on Saturday that Jordan is an ideal investment and business destination, thanks to the advantages, competitiveness and incentives it offes to businesses.

Amr said during his participation in the Jordan Investment Forum with Iraqi Kurdistan Region, which was organized by the Jordanian Businessmen Association (JBA), that the Kingom is rich in trade and investment opportunities in the information and communications technology, healthcare, pharmaceuticals, tourism and medical tourism sectors.

Jordan, he said, aspires to become a regional logistical hub, given its strategic location as a gateway between Eastern Europe and Turkey and the Arab Gulf states, stressing that the Kingdom has available opportunities to attract foreign capital in the infrastructure of energy, transport and other key sectors related to sustainable development.

The minister pointed out that the government, through the Public-Private Partnership Unit at the Ministry of Investment, has identified bankable projects in water, transport, digital and education sectors.

He noted that Jordan’s recently-launched economic modernization roadmap for the coming years is a key turning point to unlock the national economy’s potential to achieve comprehensive and sustainable growth, increase the Kingdom’s GDP to $82 billion by 2033 and absorb more than one million young people in the labor market.

Amr said the government adopted a set of organizational and institutional priorities to enhance the competitiveness of the national economy and improve the business and investment environment, including setting up the Investment Ministry as the entity to manage and oversee investment affairs, regulate an investor’s journey through a one-stop-shop, attract foreign capital, stimulate local investments and manage public-private partnership projects.

He also cited the Parliament’s approval of the investment environment bill, which is in line with international best practices, as it defines the rights, privileges and duties of investors, and treats them fairly, equitably and transparently, in addition to updating and simplifying procedures to spur business and economic activities.

For his part, JBA President Hamdi Al-Tabbaa said the forum is a first step towards building an action plan to seize available opportunities in Iraqi Kurdistan region, noting that Jordan’s geographical location and proximity to Iraq is a privilege to launch joint projects, as well as highlighting Jordan as a regional logistics business hub.

He said Jordanian companies began exporting to Iraqi Kurdistan region in 2013, besides participating in exhibitions directed to the Erbil market, especially in the construction, chemicals and textile sectors, as well as agriculture, health and engineering.

Source: Jordan News Agency

The Ministry of Industry, Trade and Supply signed sub-agreements to provide financial and technical support to about 195 small- and medium-sized enterprises.

Minister of Industry, Trade and Supply Yousef Shamali signed the agreements with executives of the Industry Support and Development Fund programs, including the Jordan Enterprise Development Corporation, Jordan Exports and Jordan Loan Guarantee Corporation.

The aim is to develop the products of these establishments, at a financial ceiling of JD100,000 annually for each facility. Grants will also be provided to about 160 small and medium industrial enterprises to enhance their export readiness, at an annual ceiling of JD50,000 for each.

As for the export credit guarantee support program, it targets about 45 industrial establishments, at a ceiling of JD35,000 annually for each facility, plus the output-based incentives program to improve the competitiveness of the Jordanian industry, at an average of 280 industrial establishments and an annual ceiling of up to JD75,000, JD150,000 and JD250,000 for small, medium and large enterprises, respectively.

Shamali, who is also Chairman of the Steering Committee of the Industry Development Fund, said in a press release that the signing of the agreements is part of government efforts to support the national industry, which will have a key impact on increasing production and enhancing the competitiveness of industrial sector exports and its ability to create job opportunities and reduce unemployment rates.

Source: Jordan News Agency

The total value of the certificates of origin issued by Irbid Chamber of Industry (ICI) over last September stood at $108 million, compared to certificates released in September 2021, which amounted to $115 million, marking a 6% drop.

In a statement to “Petra” on Saturday, ICI head, Hani Abu Hassan, said this “slight” decrease is due to the decline in demand for exported goods, especially in the leather and textile sector, as a result of repercussions of Russian-Ukrainian war.

Despite the relative decline in leather sector’s exports, it remained at the fore in the government’s exporting volume, with exports worth $99 million, while therapeutic industries and medical supplies sector ranked in second place, at $2.5 million, he said.

Foodstuffs sector’s exports amounted to $2.4 million and the remaining exported goods covered mining, construction, plastic, packaging, carton, engineering, electrical and chemical industries, he said.

In addition, he said Al Hassan Industrial Estate exports were worth $100.4 million of the governorate’s exports during last September, followed by Cyber City at $6.7 million and other exported commodities were distributed to different regions in the governorate.

US market’s imports were about $83 million from the governorate’s exports, while value of exports to Arab countries amounted to $7.2 million and European Union countries at $5 million. Other exports went to other countries around the world, including Southeast Asian countries, he pointed out.

Source: Jordan News Agency

Jordan Exporters Association (JEA) is organizing the participation of local companies specialized in the food industry in the SIAL International Food Exhibition, which is scheduled to kick off on October 15 in the capital Paris.

According to the association’s president, Ahmed Khudari, 11 Jordanian companies operating in the desserts, chocolate, spices, nuts and beverages sectors will participate in the Jordanian pavilion to display their products, stressing that the exhibition is a key global food fair.

Jordan’s participation, which is the third in the exhibition, stems from the association’s keenness to promote national products and seek to open new markets for local companies to contribute to increasing exports, he noted.

Khudari, in a statement on Saturday, said JEA is keen to provide a platform for Jordanian exporters to enhance their presence in European markets, adding that France is an important gateway for Jordanian industrial products to enter into the important African markets, especially with participation of African businesspeople in the exhibition.

The event constitutes an important commercial platform for exchanging ideas and getting aqcuainted with the latest developments in the food processing field, in addition to contacting interested traders, in light of the volume of participation from different countries across the world, he noted.

He also expressed hope that the Jordanian participation in the five-day exhibition, at 150-square-meter pavilion, would contribute to achieving positive results, promoting the local industry and seeking to conclude commercial deals.

JEA, within its objectives, continues to provide services to industrialists from various sectors and help them find export markets for their products by participating in international exhibitions and holding workshops to to benefit from the advantages of trade agreements linking the Kingdom with international economic blocs.

In turn, JEA Director General, Halim Abu Rahma, said the association is constantly seeking to finding new markets by participating in specialized exhibitions, which contribute significantly to promoting Jordanian industrial products and concluding commercial deals.

He stressed the importance of providing continuous support to enable Jordanian companies to participate in foreign exhibitions, as a successful way to promote exports, enhance presence of Jordanian products and maintain momentum in export markets due to their “high quality and competitiveness.”

Abu Rahma said diversification of export markets is “very important” for Jordanian industrial exports, indicating that the association always seizes opportunities to be present in international economic forums, which is reflected in promoting Jordanian products.

Source: Jordan News Agency

Ministry of Foreign Affairs and Expatriates expressed its “deepest” condolences to the government and people of the United States over the victims of Hurricane Ian, which struck Florida and resulted in a number of deaths and injuries, and caused extensive material damage.

In a statement released on Saturday, the ministry’s official spokesperson Haitham Abu Al-Foul, affirmed the Kingdom’s solidarity with United States, expressing sincere condolences to the victims’ families and wished the injured a a speedy recovery.

The spokesperson also called on Jordanian citizens in Florida and the areas expected to be under its effect, the need to exercise caution and comply with public safety instructions issued by the US authorities.

In emergency and assistance situations, he said Jordanians need to contact the emergency phone number of the Kingdom’s embassy in Washington: 2022949522 or operations center at the ministry headquarters: 00962795497777.

Source: Jordan News Agency

HRH Princess Dina Mired, honorary president of the European Organisation for Research and Treatment of Cancer (EORTC), gave the keynote speech at a dinner held by the organization on the occasion of its 60th anniversary.

During the ceremony, which was held in the Belgian capital, Brussels, Her Highness lauded the progress achieved by EORTC since its establishment in treating cancer patients through clinical research, which included various types of tumors and multidisciplinary treatment specialties at the international level.

This ceremony comes in honor of the EORTC directors, since its establishment, whose goal in life was to help and serve cancer patients, she noted.

Her Highness also hailed efforts of HRH Prince Albert II of Monaco, during his tenure as EORTC’s head since 2014, in improving life quality of cancer patients.

Her Highness assumed the EORTC honorary presidency in 2021, succeeding Prince Albert II.

Source: Jordan News Agency