Jordan’s ‘prompt anti-virus measures restored investor confidence’ — JIEC chief

AMMAN — The surge in the volume of investments in the Kingdom’s industrial estates during the coronavirus pandemic “is an indicator of Jordan’s attractiveness to local and foreign investors”, the Jordan Industrial Estate Company (JIEC) Executive Director Omar Juwaid said.

“The Kingdom’s diversity and economic openness, solid and dynamic business environment, in addition to its regulatory efficiency are the main reasons why investors have confidence in our market,” Juwaid told The Jordan Times over the phone on Sunday.

The JIEC executive director said that Jordan’s “prompt response mechanisms and measures to contain the unprecedented outbreak of the pandemic helped in fostering and restoring investors’ confidence and trust, as well as making a significant economic impact”.

The industrial cities have “attracted the attention” of major Jordanian and foreign businesspeople and investors, despite the unexpected recession and the COVID-19 uncertainties, Juwaid noted.

He also said that some of them are “seriously considering to invest in Jordan’s industrial cities”, while other investors who have active investments are in the process of production and development.

Juwaid said that the number of investment agreements signed until August 31 reached 57, noting that there are also 29 “serious” applications, compared with the same period of 2019 during which only 55 agreements were signed.

There are 10 industrial cities across the Kingdom that house 840 industrial firms with a total investment volume of JD2.2 billion and total employment of 67,000 persons, which constitutes 30 per cent of the total workforce in Jordan’s industrial sector, Juwaid added.

“In terms of figures, industrial cities constitute 25 per cent of Jordan’s processing industry and 30 per cent of its manufacturing exports with an estimated value of JD1.2 billion in 2019,” Juwaid said.

He also noted that the JIEC is focusing on promotional campaigns to attract more investors to the Kingdom.