Industrial sector secures 57% of Q1 2023 investments, says Chambers of Industry head

AMMAN — The industrial sector remains at the forefront of the Jordanian economy when it comes to attracting investments, both local and foreign, President of the Jordan and Amman Chambers of Industry Fathi Jaghbir said on Saturday. 

Over 70 per cent of Jordan's inflowing investments have been made in the industrial sector over the past decade, Jaghbir said, noting that the sector's investments currently total approximately JD15 billion, while the sector's production capacity is estimated at some JD17 billion, the Jordan News Agency, Petra, reported.

Citing figures from the Ministry of Investment, Jaghbir said that the industrial sector secured 57 per cent of the total investments benefiting from the new Investment Environment Law during the first quarter of 2023, amounting to JD166 million.

The industrial sector has a significant impact on Jordan's trade balance, as it contributes 93 per cent of total national exports, Jaghbir said. 

The Kingdom's industrial products reach over 142 markets worldwide through the export of a diverse range of 1,400 goods, he added.

The sector employs around 21 per cent of the total workforce in the Kingdom, or approximately 254,000 workers, with Jordanians constituting around 80 per cent of the workforce. The sector provides up to JD2 billion in compensation annually, Petra added.