Amman, Jordan – Jordan’s total volume of investments witnessed a 47.6 percent increase, according to data released by the Ministry of Investment on Sunday.
The total investment volume reached JD 598.2 million ($841.6 million), compared to JD 405.3 million ($570.2 million) during the same period in 2022.
About 236 investment projects capitalized on the advantages offered by the Investment Environment Law, showcasing its effectiveness in attracting businesses and boosting economic development. These projects are estimated to create approximately 15,200 job opportunities, according to studies presented by the investors.
The expansion projects constituted a substantial 51 percent share of the total investments during the first half of 2023. The collective investment volume for expansion projects amounted to JD 307 million ($432.1 million), with the potential to generate nearly 10,600 job opportunities.
Fresh investments, supported by the law, also played a significant role, amounting to approximately JD 291.1 million ($409.5 million), forming 49 percent of the total investments. These new ventures are anticipated to provide around 4,600 job opportunities, signifying a positive outlook for the job market.
The Ministry of Investment highlighted the diversification of investments across various economic sectors, with the industrial domain taking the lead, garnering an impressive 71 percent share of the total investments. The industrial sector saw investments amounting to JD 422.1 million ($593.4 million).
Other sectors that benefited from the Investment Environment Law included the trade sector, securing 17 percent of the investments, which amounted to a substantial JD 100 million ($140.6 million). The tourism sector also showed promise, attracting 5.5 percent of the investments, totaling JD 34.4 million ($48.4 million).
The remaining sectors, including services, artistic production, agriculture, information technology, hospitals, medical centers, transportation, research, and development, collectively constituted 6.5 percent of the total investments, contributing to the overall economic diversification in Jordan.