Business

AMMAN — Certificates of origin issued by the Amman Chamber of Commerce (ACC) jumped 21.2 per cent in value during the first two months of 2025 compared to the same period last year.

Data obtained by the Jordan News Agency, Petra, revealed that the value of certificates of origin reached JD222 million in the January-February period of 2025, up from JD183 million in the 2024 corresponding period, reflecting increased commercial activity across Jordan's export sectors.

The chamber also reported a "substantial" increase in the number of certificates of origin processed, with the number rising 32.2 per cent to 4,487 from 3,394 during the same period last year, suggesting broader participation in export markets among Jordanian businesses.

Syria emerged as the leading destination by volume with 1,072 certificates valued at some JD12 million. Iraq dominated in value terms with JD96 million in exports across 477 certificates, underscoring the continuing importance of the Iraqi market for Jordanian exporters despite ongoing regional challenges.

Other significant export markets included Switzerland, where just six certificates generated JD26 million in value, highlighting the high-value nature of these transactions.

Egypt received 125 shipments worth JD15 million, while the UAE accounted for 380 shipments valued at around JD14 million.

The composition of exports shows foreign-origin goods represented the largest category at JD104 million, pointing to Jordan's role as a regional trade hub.

Domestically produced industrial products accounted for JD52 million of the total, while agricultural exports reached JD19 million. Products of Arab origin totalled JD16 million, with various other categories making up the remainder.

The certificate of origin, which serves as official verification of a product's country of origin, plays a "crucial" role in international commerce by enabling customs authorities to determine applicable tariffs and import regulations.

The ACC issues these certificates for multiple categories including locally produced agricultural and animal products, raw natural resources, re-exported foreign goods, and foreign merchandise traded under specific regulatory conditions.

For industrial products, the chamber issues certificates based on original factory invoices certified by an industrial chamber, along with properly certified certificates of origin confirming Jordanian origin.

This process operates in accordance with Article 29 of the Jordanian Chambers of Commerce Bylaw No. 45 of 2009 and the 2013 instructions for issuing certificates of origin.

AMMAN — Minister of Digital Economy and Entrepreneurship Sami Smeirat has participated in the Mobile World Congress (MWC) 2025 and its ministerial programme in the Spanish city of Barcelona under the theme: "Converge, Connect, Create".

According to a ministry statement on Thursday, cited by the Jordan News Agency, Petra, Smeirat held a series of meetings with his counterparts and representatives of several international companies specialised in ICT fields.

Talks discussed ways to enhance cooperation in fields of digital transformation, artificial intelligence, and 5th-generation networks, aimed to enhancing digital innovation in Jordan and building "strategic" partnerships with "leading" global companies.

The minister stressed the importance of boosting partnerships and investing in Jordanian competencies and mechanisms to create more job opportunities in the technology sector and support startups and entrepreneurs in Jordan.

On goals of Jordan's participation, he noted the event comes within the framework of the Kingdom's "continuous" efforts to highlight investment opportunities in the digital sector and enhance its "position as a regional centre for technological innovation."

Smeirat noted that several global companies affirmed their support for this vision, which expressed their commitment to expanding their business in the Kingdom, which would contribute "significantly" to creating new job opportunities and supporting the sector's growth.

The statement noted the participation comes within the framework of Jordanian efforts to develop an "advanced" digital environment that keeps pace with the "latest" global trends in the communications and technology areas.

The statement also said that Jordan aims to enhance international cooperation and open "new" horizons for investment and innovation in the digital sector.

AMMAN — The World Bank is considering providing a new proposed financing of $50 million to support start-ups and small and medium enterprises in Jordan, as mentored on Thursday by Al-Rai Newspaper.

The new proposed financing aims to stimulate private investment and support employment opportunities in the private sector, which is under study and comes as a continuation of the success achieved by the Innovative Startups and SMEs Fund (ISSF), funded by the Central Bank of Jordan (CBJ) and the World Bank, in its first phase, according to the World Bank's data.

The proposed "pivotal step" project will be based on the ISSF's position as a leading institution in a "strong" investment environment regionally and internationally, in order to enhance funding and expand opportunities for startups, with a focus on; investments in venture capital funds, joint investment in start-ups, stimulate private investment, strengthen linkages with regional and global markets, and support the growth of investable companies by providing advanced incubation and acceleration services.

The Kingdom has become one of the "fastest" growing venture capital markets in the MENA region, according to the World Bank during the period of 2018-2022; Jordan was ranked fourth among the countries with the most funding in the venture capital market in the region, whereas the value of investments in Jordanian startups amounted to $ 246 million.

The bank pointed out that the most important sectors that attracted venture capital investments in the Kingdom were e-commerce and retail by 20 per cent, educational technology by 16 per cent, and health technology by 15 per cent.

By the end of October 2024, the World Bank had transferred $46.8 million to the innovative companies support project, with 93.6 per cent of the total financing of $50 million, in a project that created more than 1,760 jobs in the Kingdom.

According to World Bank data, the $98 million startup and small enterprise support fund project, which was jointly financed by the ISSF, International Bank for Reconstruction and Development (IBRD) with value of $50 million and the CBJ with value of $48 million.

Noting that the project was approved by the World Bank on June 2017, while it was launched in Jordan on September 2018, and will be completed on June 30, 2025.

The project allocated more than 82 per cent of the fund's total investable capital to the end of last year, while the fund's investments attracted more than $200 million of private capital in multiple fundraising, benefiting from 19 institutional investors, and funding 138 companies (31 women-led and 60 youth-led).

These results has contributed to the creation of more than 1,760 jobs in the Kingdom, as the fund played a "pivotal" role in supporting startups through investment readiness and business development services, and stimulating support for investable startups through incubation and acceleration services, while the project remains of strategic importance and useful to support the growth of the entrepreneurship ecosystem in Jordan as Al-Rai Newspaper reported.

AMMAN — Exports of the Amman Chamber of Industry (ACI) increased by 19 per cent during the first two months of this year compared with the same period last year, maintaining an upward trajectory that began in early 2025.

According to statistical data obtained by the Jordan News Agency, Petra, the ACI's exports for January and February of this year amounted to JD1.102 billion, compared with JD926 million during the same period in 2024.

The majority of industrial sectors reported growth in their exports, with the exception of the medical and therapeutic industries, as well as the wood and furniture sectors, which saw declines of 28.5 per cent and 19.7 per cent, respectively.

Other sub-sectors experienced varying growth rates, with the constructions materials sector showing the largest increase of 105.5 per cent, while the packaging, paper, and office supplies sector saw a rise of 5.7 per cent, as Petra reported. 

The top destinations for exports from the ACI during the January-February period were India, the US, Saudi Arabia and Iraq, which together accounted for more than half of the total exports, amounting to JD638 million. 

Exports to Syria experienced a "remarkable" surge of 276.8 per cent, rising to JD44 million compared with JD11 million in the same period of 2024.

Arab countries led the export destinations, accounting for JD537 million, followed by non-Arab Asian countries with JD215 million, and North America with some JD207 million.

Exports to the European Union reached JD56 million, while non-EU European countries accounted for JD43 million. African countries imported JD28 million worth of products, and other countries received JD14 million in exports.

The chamber’s exports during the first two months of the year were distributed across various sectors, including mining products with JD226 million, chemicals and cosmetics with JD210 million, engineering, electrical, and the ICT with JD193 million, and food, agricultural and livestock products with JD167 million. 

Exports from the leather and textiles sector totalled JD94 million, while medical supplies and therapeutic products amounted to JD72 million.

The remaining exports were divided among the plastic and rubber industries worth JD53 million, packaging and paper products worth JD44 million, construction materials worth JD40 million, and wood and furniture products worth JD3 million.

AMMAN — The industrial producer price index (PPI) increased by 0.23 per cent year-on-year in January 2025, reaching 107.13 points compared with 106.88 points in the corresponding month of 2024, data released by the Department of Statistics (DoS) showed on Wednesday.

The upward trajectory was primarily driven by inflationary pressures in the manufacturing sector, which saw a 0.23 per cent appreciation, alongside a more substantial 1.71 per cent price escalation in extractive industries.

These gains were partially offset by a 1.08 per cent contraction in the utilities sector, specifically electricity prices, the Jordan News Agency, Petra, reported.

On a sequential basis, the PPI went up 0.81 per cent month-over-month from the December 2024, reaching 106.26 points.

This momentum was bolstered by a 0.83 per cent uptick in the manufacturing component, complemented by a 1.18 per cent surge in extractive industries and a modest 0.21 per cent increment in the electricity component.

AMMAN — The Saudi Jordanian Investment Company (SJIC) and Alyoum Bakery, a pioneering industrial-scale baked goods producer in Jordan, on Tuesday announced the signing of an agreement for SJIC to indirectly invest in Alyoum Bakery. 

Completion of the deal is subject to fulfilling certain conditions under the agreement and obtaining the necessary regulatory approvals.

The transaction, which involves the issuance of new shares by Alyoum Bakery, aims to bolster the company's ability to execute its longer-term growth strategy, which includes expanding its business through the introduction of new product categories across Jordan and in neighboring markets, according to a statement for The Jordan Times. 

This deal is in line with SJIC's strategy, which includes exploring new investment opportunities in Jordan that support the creation of long-term economic partnerships to achieve sustainable returns.

Acting CEO of SJIC Muteb Shathri, said: “We are delighted to mark this milestone cooperation with this well-established firm, and we look forward to working with Alyoum Bakery and contributing to the company’s growth."

"This transaction is part of SJIC’s strategy to focus on key promising sectors which are important for economic development. The partnerships that SJIC is establishing with leading Jordanian companies are fundamental elements of success for the future,” Shathri added.

Co-founder of Alyoum Bakery Mahmoud Khalil said: “Today marks a significant milestone for Alyoum Bakery and the beginning of a new phase in the company’s journey."

"We are very excited by SJIC’s investment into the company, reflecting a commitment that will enable us to implement the key pillars of our organic strategy, which centers around enhancing production efficiency and product availability, in addition to expanding the distribution network both within Jordan and across neighboring markets,” Khalil added.

Alyoum Bakery specialises in producing a wide selection of fresh bakery products. It is considered a leading Jordanian company, with one of the widest and most advanced distribution infrastructures in the local market, allowing for countrywide coverage and reach across multiple sales channels. 

The company owns a production unit with the capacity to process 300 tons of flour each day. This is in addition to seven production lines as well as auxiliary packaging units.

AMMAN — Container traffic at the Aqaba Container Terminal (ACT) saw an increase of 41.5 per cent during the first two months of 2025 compared to the same period in 2024, according to latest figures from the Jordanian Logistics Association (JLA).

The figures revealed that the number of containers entering the port rose to 71,827, compared to 50,729 containers during the same months in 2024, the Jordan News Agency, Petra, reported. 

The data also highlighted a 12.5 per cent increase in the number of containers exported from the terminal. 

In the first two months of 2025, 16,428 containers were shipped out of Jordan, compared to 14,602 containers in 2024.

Established in 2007, the JLA represents the Kingdom's forwarding professionals and aims to create a competitive environment and support the growth of freight forwarding and logistics services. 

The association is also a member of the International Federation of Freight Forwarders Associations (FIATA), a non-governmental organisation founded in Vienna in 1926.

AMMAN — Jordan has made "impressive" progress in the 2025 Global Entrepreneurship Monitor (GEM) Report, one of the leading international assessments of entrepreneurship ecosystems worldwide.

According to a statement released by the Ministry of Digital Economy and Entrepreneurship on Monday, the report showed "significant" improvements in several key indicators, signalling a remarkable improvement in the Kingdom's entrepreneurial landscape, the Jordan News Agency, Petra, reported.

The report said that Jordan experienced a significant increase in its early-stage entrepreneurial activity index, with the report showing an increase in the number of individuals starting their own businesses. 

The index of entrepreneurial intentions has improved, indicating a growing trend of people considering entrepreneurship as a sustainable economic path.

Jordan also made progress in its business environment, as the Kingdom's physical infrastructure score rose to 7.6 out of 10, demonstrating improvements in the business climate. 

Market dynamics jumped from a score of 2.1 in 2023 to 5.2 in 2024, suggesting a more agile and open market environment.

In the field of entrepreneurial finance, Jordan's score increased from 4.3 in 2023 to 4.5 in 2024, signalling improved access to finance for new businesses. 

The government's tax and red tape policies also improved, with the score rising from 4.7 to 5.3, reflecting ongoing efforts to ease business regulations and encourage start ups.

Highlighting progress in entrepreneurship education, the report revealed that in schools, entrepreneurship education improved from a score of 2.9 to 3.7, while after-school programmes increased from 3.7 to 4.3, which indicates an increasing focus on instilling an entrepreneurial mindset in the younger generation.

At the national level, Jordan saw an improvement in the Entrepreneurship Context Index, with its score rising from 4.7 in 2023 to 5 in 2024, where Jordan climbed to 18th out of 56 economies, up from 20th out of 49 countries in 2023.

The Ministry of Digital Economy, in collaboration with the national team, plans to publish a comprehensive national report detailing the local entrepreneurship landscape in Jordan.

This progress underscores Jordan's commitment to boosting its entrepreneurial ecosystem, backed by government support, improved access to finance and a focus on education. 

It positions Jordan as a growing hub for innovation and entrepreneurship in the region, creating more opportunities for entrepreneurs and innovators in the Kingdom.

AMMAN — New company registrations increased 12 per cent in the first two months of 2025, with 1,308 new entities incorporated compared to 1,165 during the same period last year, the latest Companies Control Department (CCD) report showed on Monday.

Limited liability companies (LLCs) dominated new registrations, accounting for 74.3 per cent of newly established entities with 972 companies formed during January and February, where these LLCs represented over JD20 million in registered capital, the Jordan News Agency, Petra, reported.  

The number of company dissolutions and deregistrations dropped significantly, falling 59 per cent to 188 companies compared to 459 in the same period of 2024.

Total registered capital for new companies exceeded JD34 million, while net capital increases reached some JD66 million, representing a 65 per cent year-on-year growth.

Capital restructuring activity showed 47 companies reducing their capital by JD66.5 million, while 336 companies implemented capital increases totaling nearly JD132 million.

These figures suggest improving investor confidence and business formation momentum in the early months of 2025, despite ongoing regional economic challenges, according to Petra.

AMMAN — Exports of the Kingdom's packaging industry reach 44 international markets, and sector products cover more than three-quarters of local market requirements, a stakeholder said on Monday.

The packaging, paper, cardboard, and office supplies sector now covers 77.2 per cent of domestic demand, and has positioned Saudi Arabia and Iraq as its primary export destinations, accounting for 66 per cent of foreign sales, according to Mohammad Safadi, the sector representative at the Jordan Chamber of Industry.

"Export performance reached JD123 million during the first 11 months of 2024, compared to JD131 million for the same period in 2023," Safadi told the Jordan News Agency, Petra.

The sector maintains annual production capacity of approximately JD1.14 billion, with value-added components representing 37 per cent of the total output.

The industry's contribution to GDP stands at 1.3 per cent, while employment figures demonstrate its significance in the labour market with 12,070 workers, 89 per cent of whom are Jordanians.

According to the Jordan Industry Index, the sector achieved a 0.5 per cent growth rate during the third quarter of 2024 compared to the same period in 2023 marking its "strongest" performance in five years.

The sector has experienced significant expansion over two decades, with operational facilities increasing to 812 establishments nationwide.

"Our products not only protect and transport goods but serve as the critical link between producers and consumers, directly influencing purchasing decisions through enhanced product presentation," Safadi noted.

The sector's integration with other industries is substantial, with packaging components accounting for more than 16 per cent of production costs across the industrial sector, excluding raw materials.

The industry faces several challenges, including escalating energy and raw material costs, intensifying competition from lower-priced imports, and non-compliance issues with Jordanian technical standards, particularly for food-contact materials.

Additional obstacles include underdeveloped marketing strategies for non-traditional export markets, inconsistent implementation of Arab trade agreements by partner countries, and persistent shortages of specialised technical expertise.