Development Zones in Jordan
As the economy grows there is the potential to develop new zones in the country but there are also regional interests that we see from other investors worldwide.
List of all articles filed under “jordan-topics” category.
As the economy grows there is the potential to develop new zones in the country but there are also regional interests that we see from other investors worldwide.
We are seeing about 40% growth in receipts and 30-35% in tourist arrivals. By any standard we are probably witnessing a year of boom rather than doom, and we are very optimistic.
My vision for Aqaba is to be a cosmopolitan city with people from all walks of life and from all over the world who do business in the Middle East and can call Aqaba home.
Our industrial zone employs 15,000 people and at one point had about 600 million US dollars of exports, there are fifty factories with tenants of 12 nationalities and international manufacturers.
The current market capitalization amounted to 22 billion JD – that represents about 137% of GDP, which is considered high compared to international standards.
There has been a sort of freeze in supply and increase in demand which is causing the increase we saw in the first six months of 2010.
We import 96% of our energy from outside of Jordan, not only from Egypt; we import only the gas from Egypt for our electricity generation.
Investments that have come through the Jordan Investment Board and have benefitted from the investment promotion law are 174% greater than in 2009.
Standard & Poor’s Corp. cut Jordan’s long-term local currency sovereign ratings to BBB- from BBB.
Jordan has been affected by the economic crisis. In the last year the growth rate was 2.8% but we heard that this year it would not be less than 4%.