‘Local investors, businessmen vital to economy’

AMMAN — His Majesty King Abdullah on Tuesday stressed the important role of investors and Jordanian businessmen in supporting the country’s economy and providing solutions to mitigate the problems of poverty and unemployment. 

During a visit to the Manaseer Group, which specialises in energy and construction industries, and to Hikma Pharmaceuticals PLC, the King stressed the importance of focusing on developing the capabilities of the national economy in the coming stage through investment projects where the private sector can play a major role. 

He underscored the contributions of the two companies to the economy and the labour market across the Kingdom, “from the north to the south”.

Noting that addressing unemployment and finding jobs for Jordanians is a top priority, the King said the government is preparing a 10-year plan for the economy with the participation of the private sector to overcome economic challenges and transform them into opportunities that boost the investment environment and the economy in general. Ziad Manaseer, chairman of the board of directors of Al Manaseer Group, said the group is working through its various investments in Jordan and the Middle East to contribute to the local economy by providing high-value products, supporting local community development and safeguarding the environment.

Representatives of the group, which comprises several companies, highlighted the job opportunities it provides for local human resources and its focus on export-oriented industries. 

The group currently employs 6,500 Jordanians at its branches across the Kingdom, and its growth in business and sales is expected to reach JD1.2 billion this year, according to the group’s vice-chairperson, Moen Qadada.

They also highlighted challenges facing the industrial sector, mainly the high cost of energy and the poor condition of roads. 

While inaugurating Hikma Pharmaceuticals’ chemical plant for oncology-active pharmaceutical ingredients, specialised in producing effective raw materials for cancer medication, the King underscored the company’s role in providing thousands of job opportunities for qualified Jordanians, citing Jordan’s stability and its geographic location as advantages to attract investments. 

Mazen Darwazeh, executive vice chairman, president and CEO of MENA and emerging markets at Hikma, said the company has 27 factories in 11 countries, of which, seven are in Jordan. 

During a tour of the new plant, the King was briefed by its director general, Yousef Khayat, on its goals, mainly providing a sustainable source of the vital ingredients needed for cancer medications in Jordan, in particular, and MENA countries, in general. 

Founded in 1978 in Jordan, Hikma Pharmaceuticals PLC develops, manufactures and markets a broad range of both branded and non-branded generic and in-licensed products.