Arab investments add boost to local industry production — JCI 

AMMAN — Arab investments have boosted the local industry’s performance and increased production volume, President of the Jordan Chamber of Industry (JCI) Fathi Jaghbir said on Sunday.

Jaghbir told the Jordan News Agency, Petra, that the industrial sector in the Kingdom has numerous features that render it highly attractive for investment, as it has received over 80 per cent of total investments in the country in recent years, particularly in food, chemical, engineering and petrochemical industries.

He added that Arab investments constituted almost half of foreign investments in Jordan, and underscored the industrial sector’s “high level” of productivity and value, with an annual production worth $25 billion. 

The JCI president added that the Kingdom produces over 1,500 goods across various industrial sub-sectors.

The sector is also full of investment opportunities worth $4.4 billion, with fertilisers amounting to $1 billion, chemicals to $726 million, clothing to $560 million, pharmaceuticals $461 million and mineral resources $328 million.

Local and Arab investors show interest in the industrial sector, which serves as a gateway to access markets with over 1.6 billion consumers worldwide, Jaghbir said, adding that Jordan has implemented numerous economic agreements aimed at empowering and supporting the private sector.

The JCI recently announced plans to invest $850 million in both existing industries and those in the final stages of establishment. This move is set to generate 3,650 new job opportunities, while exports are expected to reach around $1.2 billion.

The industrial sector houses 18,000 production facilities spread across the Kingdom, including 16,200 craft establishments and 1,800 industrial establishments, employing 268,000 workers.