USAID-funded programme preparing strategies to attract investments to Jordan, increase exports

AMMAN — The USAID Jordan Competiveness Programme (JCP) is working on a project to help the Kingdom attract investments and increase exports in different areas, according to its chief of party, Wissam Rabadi.

The JCP hired a world-renowned company to develop a strategy for the promotion of investment opportunities in different economic sectors in collaboration with the Jordan Investment Commission, Rabadi told The Jordan Times in a recent interview.

The strategy will highlight the competitive advantage of investments in Jordan in several fields, including tourism, pharmaceuticals, energy and ICT, he said.

“The strategy will focus on attracting certain investors and is expected to be completed in the next three-to-four months,” Rabadi added.

To help private Jordanian companies in different fields grow and penetrate several markets, the JPC has also hired an international company to help in the development of another strategy for promoting and increasing Jordanian exports, according to Rabadi.

“The main objective is to increase the competitiveness of the Jordanian private sector. With the current ongoing regional conditions and difficulties in exporting to markets such as Iraq and Syria, a strategy is required to overcome these conditions and enter new markets such as African markets.”

The strategy, which is expected to be ready by the end of this year, entails facilitating access to funding for private sector companies through collaboration with several banks.

Rabadi said the JCP will continue to conduct a series of activities and programmes to strengthen the capabilities of the private sector, boost the adoption of renewable energy, and foster skills of Jordanian enterprises.

Launched in 2013, the JCP is a five-year project funded by USAID and implemented by Development Alternatives, Inc. 

It seeks to address challenges that Jordan faces in creating high-quality jobs through increased private sector competitiveness, and by working closely with the public and private sectors to promote policy reforms, build capacity, improve coordination and attract foreign investments.

The programme aims to generate at least 40,000 well-paying jobs within five years, increase foreign direct investment by $700 million and increase exports by an average of 25 per cent over five years.