Investment volume of ventures benefitting from Investment Law grew by 69% — ministry

AMMAN — The total volume of ventures benefitting from the Investment Law increased by 69 per cent during the first half of 2022 to reach JD405.3 million, compared with JD239.7 million during the same period of last year.

According to a Ministry of Investment statement, issued on Wednesday, a total of 202 businesses availed of the Investment Law, with the number of employment opportunities reaching 9,300, as recorded by investors.

The volume of domestic investment amounted to JD300.6 million, accounting for 74.2 per cent of the total investments, while foreign investment reached JD104.7 million, accounting for 25.8 per cent of the total investment volume, the Jordan News Agency, Petra, reported.

The investments outside the development zones with a volume of JD382.1 million, during the first six months, accounted for 94.3 per cent of the total volume of investments, worth JD23 million within the development zones accounted for 5.7 per cent.

As for the distribution of these ventures in various sectors,  the ministry said that the industry sector accounted for the lion's share of the investments taking advantage of the Investment Law with 60 per cent with an investment volume of JD243 million.

This was followed by the tourism sector with JD97.8 million at a rate of 24.1 per cent, hospitals and specialised medical centres with JD35.5 million at a rate of 8.8 per cent, agriculture with JD18 million at 4.4 per cent, while the other sectors accounted for 2.7 per cent of the investment volume.