Emirati Investments in Jordan a Success Stories Reached $17 Billion

AlAnbat-Zaina AlBarboor

Translated by Haya Alsaber

 The United Arab Emirates' strong relations with the Hashemite Kingdom of Jordan at various political, economic and social levels testify to the strength of its recent visit. The visit of its President, Mohammed bin Zayed, marked an important step in strengthening bilateral relations, especially since it was his first visit to Jordan after taking office.

 In order to dive further into the details of bilateral economic relations and the impact of the recent meeting between the two countries, the Director General of the Jordanian Business Association, Tariq Hijazi, spoke to AlAnbat and stressed that Jordanian-UAE relations constitute a unique example of historical Arab and bilateral relations that have worked hard to document all political decisions between the two countries.

He explained that the volume of trade rose in 2020-2022 from $ 950 million to $1 billion and $740 million today, pointing out that there are still untapped Jordanian export opportunities in the chemical, sewerage and mining sector, referring to the need of UAE markets for these sectors, The UAE's investment in the Amman Stock Exchange has increased since 2020 from $210 million to $598 million.

He stated that UAE investments in Jordan are success stories amounting to nearly $17 billion, noting that there are large projects in the real estate, port and many other sectors that are of great interest to UAE investors in Jordan.

 Hijazi added that the quadrilateral industrial integration was recently established with the participation of Jordan, UAE, Bahrain and Egypt, stating that Jordan has received many Emirati investments in this joint integration, noting that the UAE Clutch Fund allocated $10 billion to invest in quadrilateral integration over the coming period.

 In the same context, the economist and grandfather Makhameh confirmed to AlAnbat that bilateral relations between UAE and Jordan have been rooted since the founding of the UAE, pointing out that relations have been distinct since the time of late King Hussein bin Talal and it continued during the reign of His Majesty King Abdullah.

 The United Arab Emirates regards Jordan as an investment environment attractive to investments, with a value exceeding $17 billion, pointing entry UAE of several large investment projects as projects in Aqaba and in all fields such as hotels and others.

 Makhmara predicted that economic and investment relations will continue between the two countries, pointing out that there are additional new projects that Jordan may turn to the UAE to invest in as a Bahrain carrier and promote solar energy agreements.

 He concluded that the UAE Fund is investing in several countries and Jordan, one of which stresses that bilateral relations are in the process of developing further as a result of Jordan's privileged friendly relationship with Emirates.

 It is worth mentioning that the recent visit of the President of the United Arab Emirates has not been made public in advance, but it has been described as very important visit and could lead to the reformulation of bilateral relations between the two countries in relation to many files, including the internal Palestinian file, where it is widely believed that Amman and Abu Dhabi are constantly discussing details in this regard.

 Earlier last month, an Emirati military delegation made an official visit to Jordan to discuss ways to strengthen military cooperation between UAE and Jordanian militaries.