Investment Council discusses necessary measures to boost venture promotion in Jordan

-Prime minister reiterates support for industrial sector as key pillar of Jordan's economy

-‘Gov’t works to expand natural gas supply to industrial cities to enhance sector’s competitiveness, reduce energy costs’

AMMAN — Prime Minister Jafar Hassan on Sunday stressed the importance of partnership with the private sector in all major and strategic projects prioritised by the government in 2025, contributing to added value for the national economy.

During an Investment Council meeting, chaired by Hassan at the Prime Ministry, the members discussed critical steps and measures to further promote investment in the Kingdom, according to the Jordan News Agency, Petra."

The prime minister said that the Investment Council has "essential" tasks to encourage investment and create an empowering environment for investors and the private sector, fostering economic opportunities aligned with the implementation of the Economic Modernisation Vision.

He stressed the need for continuous engagement with the private sector to understand their priorities and ensure their implementation by the Investment Ministry. 

During the meeting, the premier reviewed the most prominent ongoing major projects across various sectors, particularly in railways, the National Carrier Project, whose preliminary contract was signed earlier in the day, and significant developments in the mining sector, including the agreement to expand Jordan Bromine, which was signed last week.  

Investment Minister Mothanna Gharaibeh outlined the ministry’s key programmes and priorities for the coming period, referring to ongoing efforts to streamline investment service procedures. 

Gharaibeh added that major projects planned by the ministry will be discussed with the Investment Council before their launch.  

Council members underscored the significance of public-private sector partnerships, commending the government's approach to dialogue and communication with the private sector.  

The meeting was attended by members of the Investment Council, including ministers from the economic team, governor the Central Bank of Jordan, and representatives from the private sector.

Also on Sunday, the prime minister visited the Amman Chamber of Industry, where he met with industry leaders.

Hassan reiterated the government’s commitment to supporting the industrial sector as a "key pillar" of Jordan's national economy and building a strong partnership with the sector across all industries.

Following a review of the sector's key challenges, Hassan instructed the Minister of Industry, Trade, and Supply to establish a joint committee with government and industry representatives to meet regularly and address pressing issues affecting the industrial sector.

The premier also highlighted the government’s efforts to achieve the goals outlined in the Economic Modernisation Vision, with a specific focus on cooperation with the private sector to drive progress.

The government is working to expand the natural gas supply to industrial cities and clusters, aiming to enhance the sector’s competitiveness and reduce energy costs, Hassan said.

The prime minister also reiterated the government’s ongoing commitment to engaging with international partners, within legal and diplomatic frameworks, to overcome obstacles faced by Jordanian exports.

Minister of Industry, Trade, and Supply Yarub Qudah noted that the Economic Modernisation Vision places significant emphasis on the industrial sector as a driver of economic growth and job creation. 

He also emphasised the sector’s importance for achieving substantial progress, adding that the government’s focus on its revival is essential for boosting exports.

Qudah also said that the government, in partnership with the private sector, has launched a company in which the industrial sector holds a 51 per cent stake, to promote export development and expansion.

The minister also highlighted a new policy introduced by the government, which requires all ministries to assess the potential impact of any decision before its implementation, ensuring better alignment with sectoral needs.

Chairman of the Jordan Chamber of Industry and the Amman Chamber of Industry Fathi Jaghbir stressed the critical role of the industrial sector in driving economic growth. 

He noted that 40 per cent of the country’s economic growth in 2023 was driven by the industrial sector, which also generates significant returns for the national economy—every dinar spent in the sector generates 2.17 dinars.

He also stressed that the industrial sector provides employment for 21 per cent of the workforce and supports over one million Jordanians. 

Jaghbir also pointed out that 94 per cent of national exports are industrial goods and that 62 per cent of investments benefiting from the investment law were in the industrial sector.

Director of the Amman Chamber of Industry Nael Hussain presented a roadmap to boost the competitiveness of Jordan’s industrial sector. He said that Jordan has the potential to become a regional hub for various industries, leveraging its competitive advantages within the national economy.