Investment Ministry reports significant growth in total investments in first half of 2023

Economy

Published: 2023-07-30 17:01

Last Updated: 2024-05-27 11:32


Investment Ministry reports significant growth in total investments in first half of 2023
Investment Ministry reports significant growth in total investments in first half of 2023

The Ministry of Investment has revealed a remarkable surge in the volume of total investments benefiting from the Investment Environment Law during the first half of 2023.

According to official figures released on Tuesday, the total investments reached approximately JD 598.2million, showcasing a remarkable 47.6 percent growth compared to about JD 405.3 million in the same period in 2022.

During the first six months of 2023, a total of 236 investment projects benefited from the investment law, promising to generate approximately 15.2 thousand job opportunities, as indicated by the studies submitted by investors, marking a positive impact on the country's employment landscape.

Analyzing the distribution of investments across sectors, the industrial sector emerged as the leading beneficiary, attracting an investment volume of JD 422.1 million, which accounts for a substantial 71 percent of the total registered investments.

The tourism sector followed with investments totaling JD 100 million, constituting 17 percent of the overall investment volume.

Additionally, the real estate sector secured investments amounting to JD 34.4 million, making up 5.5 percent of the total.

Other economic sectors and activities, including services, technical production, agriculture, information technology, hospitals and medical centers, transportation, and research and development collectively accounted for 6.5 percent of the total investment volume.

The Ministry further highlighted that investments outside the development areas dominated the landscape, amounting to a total of JD 555.9 million dinars, constituting a substantial 92.9 percent of the total investments. These investments were spread across 206 projects.

In contrast, investments inside the development areas accounted for JD 42.3 million dinars, representing 7.1 percent of the total investments and encompassing 30 investment projects.

As part of its efforts to support investors, the Ministry reported the successful completion of automating all 95 services related to licensing economic activities.

This move aims to streamline procedures, offer more efficient services, and expedite the delivery of essential resources to investors, ultimately contributing to an improved investment environment.

The Ministry of Investment's announcement highlights the positive trajectory of Jordan's investment landscape and signals potential for further growth and opportunities in various economic sectors throughout the rest of the year.