AMMAN — The national economy presents a “very positive” outlook, with reports from international institutions such as the World Bank and the International Monetary Fund stressing Jordan’s ability to achieve sustainable growth in the years ahead, Chairman of the Eastern Amman Industrial Investors Association Iyad Abu Haltam said.

Speaking to the Jordan News Agency, Petra, on Saturday, he said that the government, since its formation, has sought to implement Royal directives aimed at advancing one of the main pillars of the Jordanian state in its second centennial, focusing on political modernisation, economic reform, and administrative development.

Abu Haltam noted that the government, formed by Prime Minister Jafar Hassan over a year ago, was mandated to advance the Economic Modernisation Vision and build on past achievements.

The chairman added that the vision is part of a long-term national project spanning successive governments, driven by eight growth engines and more than 366 initiatives covering the majority of Jordan’s economic sectors.

He highlighted some of the major initiatives currently being implemented, including the development of high-value industries, the provision of gas to factories in industrial zones, the establishment of a national export policy, as well as initiatives in the mining, tourism, and sustainable resources sectors.

Abu Haltam said that tangible signs of improved economic performance are beginning to appear, with the growth rate approaching 3 per cent and forecasts for next year suggesting it could rise even further, noting that the Central Bank of Jordan’s foreign currency reserves have exceeded $24 billion.

He added that the ratio of exports to imports reached more than 51 per cent, an unprecedented figure, while tax revenues rose and the Amman Stock Exchange (ASE) index surpassed, for the first time since 2008, the 3.3 per cent mark.

This performance has been supported by reforms and legislation to encourage investment, including granting Jordanian nationality to investors, whether through direct investment or via the ASE, he noted.

Abu Haltam said these developments have improved the investment climate, with major projects such as the National Water Carrier, infrastructure, hospitals, schools, and renewable energy initiatives underway.

He noted that the new Electricity Law will boost investment in power networks, electric transport, and green hydrogen.

Abu Haltam added that the government is also enhancing industrial zones by offering incentives in governorates including Karak, Tafileh, and Madaba, and completing the industrial zone in Zarqa, creating a more attractive investment environment in line with the 2022 Investment Environment Regulation Law.

© Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).