49.1% increase in the volume of total investments benefiting from the investment environment law

Insherah Altamimi 

The volume of total investments benefiting from the investment environment law in Jordan increased during the first quarter of 2023 by 49.1%, reaching 288.46 million dinars, compared to 193.5 million dinars during the first quarter of 2022. The number of projects benefiting from the law reached 91 investment projects, and the size of the workforce  It is expected, according to studies submitted by investors, that it will reach approximately 3.2 thousand job opportunities.

The Ministry of Investment stated on Wednesday in its statement that the investment projects that benefited from the investment environment law during the first quarter of 2023 were distributed to many different sectors, indicating that the industry reaped the largest share, and the investment rate in it amounted to about 57% of the total investments, and the size of  an investment amounted to 165.6 million Jordanian dinars, and in the services sector, the volume of investment amounted to 100 million dinars, or 35%, while in the tourism sector, the volume of investment amounted to 17.5 million dinars, or 6%, and the rest of the economic sectors and activities (such as hospitals, medical centers, information technology, research and development) accounted for a percentage  2% of the total investment volume.

As for the distribution of investments benefiting from the investment environment law inside and outside the development areas during the first quarter of 2023, it was confirmed that the volume of investments benefiting from the law outside the development areas amounted to a total of 269.46 million dinars, accounting for 93.4% of the total investments, with a number of 72 projects.  An investment project, while the volume of investments within the development areas amounted to 19 million dinars, representing 6.6% of the total investments, with 19 investment projects.

According to the Ministry of Investment, the increase in the volume of total investments benefiting from the new investment environment law reflects the deepening confidence of investors in the investment environment in Jordan, and confirms that Jordan has attractive investment ingredients for investment and investors.

The statement concluded that the Ministry of Investment seeks to enable existing investments and encourage them to expand, in addition to attracting new investments, and in many targeted sectors that are in line with the outputs of the vision of economic modernization, such as the information technology sector, tourism and medical tourism, pharmaceutical industries and life sciences, health care services,  Food industries, clothing and textiles, agriculture and agricultural related labour, logistics, chemicals, fertilizers and film industries.