Tawasol session addresses Jordan’s adaptability amid rapid global economic changes

AMMAN — A session at the Tawasol Forum, held by the Crown Prince Foundation on Saturday, delved into the Kingdom’s progress and prospects amid transformational shifts in global economies.

The session titled, “Potential and Opportunities: Is Jordan Capable of Transforming to Future Economies”, also discussed the Kingdom’s ability to keep pace with rapid economic changes.

Speaking during the session, Musa Al Saket, founder of Alia Specialised Industries Company, said: “Future economies are based on knowledge, and skills are becoming more important than a degree.”

When future economies are discussed, factors such as legislative and regulatory frameworks, enhancing the ease of doing business and safeguarding investments need to be considered in order to be prepared for what is yet to come, Al Saket said.

“The focus now is on having entrepreneurial capabilities,” he added. Moreover, Al Saket said that taking an innovative approach to educational pathways provides a wider set of success criteria that is much needed for the future.

During the session, former Mayor of Amman and current member of the Senate, Omar Maani, pointed out the importance of acquiring professional and technical qualifications for future labour market demands. He added that “knowing future priorities well gives the economy a strong impetus”. 

Green economy expert Shada El-Sharif discussed the green economy’s role as an accelerator for future sustainable economies. “A green economy integrates the environmental aspect with the social and the economic dimensions,” she noted.

In a green economy, economic growth and development are achieved, while considering climate change, biodiversity and resource efficiency, according to El-Sharif, who added that “we are halfway through our green transformation journey”.

Speaking to The Jordan Times on Sunday, El-Sharif noted that “Jordan has the opportunity to tap into green and climate investments… through formulating key development projects across many sectors, with a climate responsive or green development lens”.

Highlighting the environmental benefits of a project alongside its social and economic benefits could be regarded as a “potential impact investment”, and therefore becomes eligible to receive international funds or technical assistance, El-Sharif said.