Jordan has earned a reputation for resilience in times of crisis. Our stability and international recognition are not a coincidence, but rather the fruits of moderation, respect and openness. Our decades-long maintenance of a robust and stable economy stems from serious commitment to reform and to an environment in which businesses are free to innovate, thrive, and grow. The Kingdom’s unique political stability and history of sound regulatory and macroeconomic policies, coupled with far-reaching efforts to improve the business climate, have helped Jordan to position itself as an attractive destination in the heart of the Levant and the wider MENA region.
Jordan continues to provide a comprehensive range of incentives and facilitations to potential investors, including preferential access to most global markets. Our Investment Commission acts as a one stop shop to assist investors in all their needs.
Despite turbulence in the region, Jordan remains a fast-growing regional commercial and business hub. This is thanks to its highly skilled, competitive, and globally-aware workforce, which is supported by modern infrastructure and technology. Our business parks, industrial estates, free zones and special economic areas provide enhanced transportation and logistics and have powered Jordan’s transformation into a hub for businesses, trade, tourism, and culture. Sitting at the intersection of three continents on what is referred to as the “New Silk Road”, Jordan has free trade access to nearly a billion consumers in Europe, North America and the Arab world.
Jordan is also engaged in a multifaceted partnership with the international community, serving as a regional logistics hub and representing a potential gateway for reconstruction and rebuilding efforts for the region. As part of this partnership, Jordan has a new trade arrangement with the EU providing a 10-year preferential trade status with the EU, through simplified rules of origin, allowing nearly all manufacturers to increase their exports to European markets — everything from apparel and electrical appliances to chemicals, cosmetics and furniture.
Over the past decade, and thanks to the adoption of a new generation of economic policies and laws to enhance investment and competitiveness, Jordan was able to position itself as a regional leader in renewable energy, finance, pharmaceuticals, medical tourism and education. The Kingdom for years has been the regional capital for ICT, startups and creative industries.
Jordan has also been leading a successful model for implementing PPP projects in the region including power, water and wastewater, renewable energy and transportation. Jordan today is a leader in wind and solar energy projects, hosting $2bn worth of projects that are transforming the Kingdom’s energy challenges into economic opportunities. These projects have helped Jordan reinforce its national infrastructure and provide critical public goods and services. In the next decade, a further $20bn worth of infrastructure projects in water, solid waste, energy, electricity, transportation, ICT, and urban development are all set to be delivered through PPPs — a key financing vehicle emphasised in the country’s 10-year socioeconomic blueprint, Jordan 2025.
The story of Jordan is one of turning challenges into opportunities. Even as unprecedented challenges to economic stability have appeared, they have not diverted us from the road of continued development and reform. Our approach to reform has always been and will continue to be inclusive, sustainable and home-grown. The Kingdom continues to be a perfect place to grow and develop a business, use as a manufacturing base and outsourcing centre, establish a distribution and assembly gateway or consulting hub, or create a base for infrastructure and reconstruction projects. We are open for business and we invite you to benefit from Jordan’s offering.
By Imad Najib Fakhoury, Minister of Planning and International Cooperation of Jordan and Chairman of the Board of Governors of the European Bank for Reconstruction and Development.
The Kingdom of Jordan will be the venue of the EBRD’s 2018 Annual Meeting of Board of Governors and Business Forum, to be held in the Dead Sea area on May 8-10 2018.
By Emmanuelle Rathouis
12 Oct 2017
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