Law Spurs Remarkable JD878.5mln Surge in Investments

Jordan's investment landscape has seen a significant boost, with investments under the Investment Environment Law witnessing a remarkable 34% surge during the initial 9 months of this year, reaching JD878.5 million. This notable increase is compared to JD656.9 million during the corresponding period last year. As outlined in a report released by the Ministry of Investment on Wednesday, a total of 372 investment projects have benefited from the law, projecting an anticipated creation of around 30,000 job opportunities. The industrial sector emerged as the primary beneficiary of these projects. The ministry detailed that expansion projects, accounting for JD430.5 million or 49%, are expected to generate approximately 18,000 job opportunities. Meanwhile, new investments benefiting from the law amount to roughly JD448 million, constituting 51% of the total investments, with an expected employment volume of around 12,000 job opportunities. The investment projects spanned diverse economic sectors, with the indu strial sector claiming the lion's share at about 64% of the total investments, equating to an investment volume of JD564.6 million. The trade sector saw investments of JD169.5 million (19%), followed by the tourism sector with JD53.4 million (6%). Other sectors and activities, including hospitals, agriculture, information technology, services, artistic production, transportation, research and development, collectively comprised 11% of the total investment volume. In terms of geographical distribution, investments under the Investment Environment Law outside development zones reached JD790.7 million, making up 90% of the total investments, spread across 323 investment projects. Investments within development zones amounted to JD87.8 million, contributing 10% to the total investments, with 49 investment projects. Source: Jordan News Agency