Industrial estate investment volume totalled JD3b in 2022 — JIEC

AMMAN — The Jordan Industrial Estates Company (JIEC) on Sunday revealed that the volume of investments in industrial estates soared to JD3 billion in 2022, constituting an increase of 19 per cent compared with 2021, including 174 new investments valued at JD575 million, the Jordan News Agency, Petra, reported. 

Twenty-seven new service investments reached a growth rate of 26 per cent, while 147 industrial investments hit a growth rate of 7 per cent, the JIEC stated. 

The investments are expected to provide 6,000 job opportunities. 

Seventy-five investments, valued at JD205 million, will be designated for facility expansion in industrial estates. 

Similarly, 70 new facilities, standing at a value of approximately JD177 million, will be established to produce chemicals, plastics, wood, pharmaceuticals, food, textiles, engineering and construction materials, paper and cardboard. 

Among the industrial estates, the Abdullah II Ibn Al Hussein Industrial Estate (AIE) ranked first in investment volume, creating 15 new investments and signing 25 expansion contracts worth JD77 million. 

The AIE was followed in this ranking by the Tafileh Industrial Estate.

Incentives endorsed by the government to attract investments in Tafileh encouraged investors to expand and establish projects in Tafileh’s Industrial Estate, JIEC Director General Omar Juwaid said. 

Such incentives include electricity subsidies for small- and medium-sized enterprises (SMEs) at the Tafileh Industrial Estate, he added. 

The investment volume at Al Hassan Industrial Estate (HIE) reached JD178 million in 2022. The HIE saw the establishment of nine new industrial investments, 32 expansion contracts, and 2,500 new job opportunities, Juwaid noted. 

New investments valued at JD86 million were established in the Al Muwaqqar Industrial Estate, the JIEC director announced.

Investments worth JD3 million were initiated at the Salt Industrial Estate, while JD4 million in new investments were founded at the Madaba Industrial Estate, JD2 million at the Mafraq Industrial Estate and JD17 million at the Al Hussein Industrial Estate, Juwaid said.