Business

AMMAN — President of the Jordanian Exporters Association (JEA) Senator Ahmad Khodari on Monday inaugurated the pavilion of Jordanian industrial companies participating in the Gulf International Food Exhibition (Gulfood 2025), held at the Dubai World Trade Centre.

The Jordanian pavilion, organised by JEA for the 20th time, will be attended by 36 companies specialised in the food industry, in addition to 5,500 exhibitors participating in the exhibition representing 129 countries, the Jordan News Agency, Petra, reported. 

According to a statement by the association, Khodari explained that the JEA is keen to enhance the presence of Jordanian exporters and industrial companies in foreign exhibitions, enabling them to expand the presence of industrial products in global markets and open non-traditional ones for them.

He pointed out that the five-day exhibition is an important opportunity to promote the Jordanian food industry, which has gained great attention in export markets, due to its quality and competitiveness, which enabled it to enter many global markets.

Kohari added that the area of the Jordanian pavilion participation in the exhibition is 716 square metres, which reflects the commitment of Jordanian companies to expanding their presence in foreign exhibitions.

On the sidelines of the opening of the pavilion, President of the Jordan and Amman chambers of industry Fathi Jaghbir stressed the importance of the Kingdom's continued participation in the event, as previous participations in this exhibition contributed "significantly" to increasing national exports and entering new markets.

He said that the participation in the exhibition, specialised in food industries, contributes to the promotion and definition of Jordanian industries, and shows the extent of development and diversity witnessed by national industries, as well as it opens the way for partnerships with suppliers, distributors, importers and traders from various countries.

Director General of the JEA Halim Abu Rahma said that the Jordanian companies participating in the exhibition are distributed among the meat, poultry, sweets, bakery, dairy and cheese industries, spices, coffee, among others.

He stressed that the exhibition is one of the largest annual exhibitions for food and beverages in the world, and provides "unique" opportunities to build partnerships with importers and learn about the latest developments in the food industry.

AMMAN – Queen Alia International Airport (QAIA) welcomed 784,992 passengers in January, marking a 12.9 per cent increase compared with the same month last year.

The airport recorded 6,061 aircraft movements, a 5.1 per cent increase, while air freight traffic declined by 22.9 per cent, handling 4,940 tonnes of cargo, down from last year, according to data revealed on Monday by Airport International Group (AIG).

AIG CEO Nicolas Deviller said, “Passenger traffic at Queen Alia International Airport continues to recover strongly, driven by recent regional developments and the upcoming year-end holiday season. The growth has boosted air connectivity, opened new business opportunities and contributed to a growth in tourism.”

He also highlighted the airport’s role as Jordan's primary international gateway, serving travellers from around the world, the Jordan News Agency, Petra, reported. 

Deviller also emphasised ongoing efforts to enhance the passenger experience at every stage, aiming to create a flexible, award-winning airport that ensures every traveller feels at home.

AMMAN — The total area of licensed building in the Kingdom in 2024 amounted to 9.03 million square metres, compared with 9.41 million square metres in 2023, marking a decrease of 4 per cent, according to the monthly report issued by the Department of Statistics on Monday.

The total number of building permits issued in the Kingdom reached 23,902 in 2024, compared with 24,207 permits in 2023, marking a decline of 1.3 per cent, the Jordan News Agency, Petra, reported. 

In terms of licensing purposes, the licensed areas for residential purposes reached 7.12 million square metres in 2024, compared with around 7.76 million square metres in 2023, recording a decrease of 8.2 per cent.

Licensed areas for non-residential purposes amounted to 1.91 million square metres, compared with 1.65 million square metres in the same period of 2023, marking an increase of 15.8 per cent.

According to the report, licensed building areas for residential purposes constituted 78.9 per cent of the total licensed building area, while non-residential purposes accounted for 21.1 per cent.

At the regional level, the central region accounted for 66.9 per cent of the total licensed building area in the Kingdom in 2024, registering an increase of 0.3 per cent compared with the same period in 2023. 

The northern region accounted for 23 per cent, a decrease of 6.5 per cent, while the southern region accounted for 10.1 per cent, marking an increase of 16.1 per cent compared with the same period in 2023.

Regarding the per capita share of licensed residential areas, Balqa Governorate recorded the highest percentage at 13.5 per cent, with an area of 0.916 square metres per individual in the governorate. 

Mafraq Governorate recorded the lowest share of new licensed residential areas with 4 per cent, with an area of 0.271 square metres per individual in 2024.

In December 2024 alone, the licensed building area amounted to 902,000 square metres, compared with 864,000 square metres in November of the same year, registering an increase of 4.4 per cent.

AMMAN — The Investment, Renewable Energy and Finance Towards a Sustainable Digital Future conference kicked off in Amman on Sunday.

Organised by the Iraqi Business Council in partnership with the Jordan Chamber of Industry, the Amman Chamber of Industry, the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), the event brought together key stakeholders from the region and beyond, the Jordan News Agency, Petra, reported.

Participants included the European Bank for Reconstruction and Development, the Association of Iraqi Private Banks, the Arab Businessmen Association, as well as Iraqi business councils, local and international economic institutions, and a delegation of Libyan business leaders.

The one-day conference focused on investment opportunities, financing and digital transformation, with a special emphasis on promising sectors such as banking and finance, industry and mining, renewable energy and ICT.

Minister of State for Economic Affairs Muhannad Shehadeh, who opened the conference on behalf of the prime minister, stressed that the event is in line with His Majesty King Abdullah's vision to promote economic integration and boost Jordan-Iraq cooperation, especially in the fields of investment, trade and industry.

He stressed the importance of strategic investments and partnerships in promoting sustainable economic development, noting that Jordan remains committed to creating a secure and conducive business environment.

He said that the conference serves as a platform for dialogue between governments, private sector leaders and international institutions, helping to improve the investment climate and drive long-term economic growth.

Shehadeh also highlighted Jordan's key role in regional economic cooperation, pointing to critical sectors such as infrastructure, renewable energy, industry, mining, financial services, telecommunications and transport.

He also stressed that Jordanian-Iraqi economic integration is not just an option, but a strategic necessity that offers both nations new avenues for prosperity.

The Minister highlighted important joint initiatives, including the Jordan-Iraq electricity interconnection project, which is expected to be launched in the second quarter of this year.

He also reiterated Jordan's commitment to supporting Iraq with all available resources to ensure a robust partnership that benefits both countries.

Shehadeh also highlighted the potential of large-scale infrastructure projects such as the Special Economic Zone and the Joint Industrial City, stressing the need to move these initiatives from planning to implementation.

He also recognised Iraq as one of Jordan's most important trading partners, with bilateral trade having grown significantly in recent years.

Chairman of the Iraqi Business Council in Jordan Majid Saadi reiterated the conference's goal of diversifying investment and promoting economic integration between the two countries in the face of regional challenges.

Saadi noted that Iraqi investors have established successful companies in Jordan to serve local and Iraqi markets. He called for more joint investment projects and stronger economic partnerships, noting that Jordanian investments in Iraq include the banking, IT and education sectors.

He also commended the support of King Abdullah and Iraqi Prime Minister Mohammed Al Sudani in facilitating private-sector engagement.

President of the Jordan Chamber of Industry Fathi Jaghbir stressed the need to capitalise on untapped investment opportunities through innovative strategies in line with global economic shifts.

He called for reforming investment mechanisms and leveraging digital transformation to increase business efficiency and enhance production capabilities.

Iraqi Ambassador to Jordan Omar Barzanji reaffirmed Iraq's commitment to facilitating investment and economic reform, noting that streamlining business regulations is key to driving economic progress in both countries.

He highlighted Iraq's 2024-2028 Development Plan, which aims to achieve economic growth of over 4 per cent, increase GDP per capita, diversify revenue streams and attract both domestic and foreign investment.

The plan also aims to reduce poverty to 5 per cent, promote local development, develop the transport sector, improve food security and strengthen environmental protection and international partnerships.

AMMAN — The Third Souq Waqif International Dates Exhibition, currently held in Doha, is experiencing a "notable" surge in interest for Jordanian dates, which are featured by a variety of exhibitors.

These dates are displayed by several participating companies, highlighting the broad appeal of the national product at this event, the Jordan News Agency, Petra, reported.

The exhibition offers an opportunity for purchasing various kinds of dates ahead of Ramadan.

Exhibition General Supervisor Khalid Suwaidi stressed that the exhibition not only aims to provide consumers with access to variety of dates, but also supports producers and traders in expanding their market reach.

Suwaidi also referred to the exhibition’s "success" in reflecting the growth and development of the date industry, as well as the increasing commitment of producers to offer "high-quality" dates that can compete with international brands.

The exhibition has provided a platform for exhibitors and visitors, facilitating interactions between producers, suppliers and consumers, while showcasing the latest innovations in date production.

AMMAN — Senate President Faisal Fayez on Sunday met with Saudi Arabia's President of the General Court of Audit (GCA) Hussam Alangari, in the presence of Audit Bureau President Radi Hamadin, to discuss enhancing cooperation in financial oversight.

Fayez underscored the "vital" role of audit institutions in safeguarding public funds and called for increased collaboration between Jordan and Saudi Arabia through expertise exchange and adherence to the best international practices, the Jordan News Agency, Petra, reported.

Alangari stressed Saudi Arabia’s commitment to enhancing cooperation with the Audit Bureau, emphasising the importance of preventive measures in financial oversight and performance monitoring of government entities.

He noted that the two institutions have a joint agreement to implement a memorandum of understanding aimed at exchanging expertise.

Hamadin outlined the bureau's strategic plan to integrate modern technology into auditing processes, including automation, to enhance efficiency and align with global standards.

AMMAN — Royal Jordanian Airlines (RJ) on Saturday announced that its revenues in 2024 reached about JD746 million, with an improvement in operating profit and a reduction in loss after tax compared with 2023.

According to RJ's preliminary financial statements for 2024, the airline's revenues in 2024 recorded an increase of JD12.7 million compared with 2023's revenues of JD733.24 million, marking an increase of 1.73 per cent, Al Mamlaka TV reported.

The RJ's operating profit in 2024 increased to JD80.64 million, compared with JD67.45 million in 2023, reflecting a 19.5 per cent increase in operating profit.

The company's losses after tax went down to JD3.7 million in 2024, compared with JD8.69 million in 2023, reflecting a decrease in losses by 57.58 per cent.

RJ announced the transport of 3.7 million passengers in 2024, with a 79 per cent occupancy rate, "the highest in a decade".

Revenues increased by JD12.7 million to reach JD746 million, while operating costs increased by JD4.4 million to reach JD734 million.

With around 8 per cent drop in fuel prices and cost controls, the company reduced its pre-tax loss to JD3.2 million, compared with JD8.6 million in 2023.

Despite the challenges caused by wars in the region, the airline continued to expand its fleet with the operation of six new aircraft, launching flights to new destinations such as Stansted, Manchester, Berlin and AlUla, as well as resuming flights to Tripoli and Moscow.

AMMAN — The Jordan Loan Guarantee Corporation (JLGC) secured guarantees to about 1,855 small and medium-sized enterprises (SMEs) in 2024, under various loan guarantee programmes, with a total value of about JD257 million, including 231 startups, worth JD22.7 million.

A total of 534 projects received guarantees within the Micro-Enterprise Support Programme, with a value of some JD4.7 million, according to the JLGC's data.

JLGC granted guarantees to 4,829 export shipments and local sales with a total value of about JD187 million during 2024, distributed across several sectors, mainly food and chemicals, the Jordan News Agency, Petra, reported.

The corporation's figures indicated that sales of Jordanian companies participating in the programme were directed to over 372 buyers in 40 countries, mainly Saudi Arabia, Switzerland, Kuwait and Malaysia.

During 2024, the corporation "successfully" signed 47 new policies with industrial companies within the previous programme.

The JLGC also renewed support for 42 Jordanian industrial exporting companies to benefit from Support for Industry Development Fund, with an annual ceiling of up to JD35,000 for each company, used to cover insurance costs in guarantee fees and inquiries about external buyers.

During the same year, the corporation achieved growth in its total revenues to reach JD49.1 million, increasing by 6 per cent, compared with JD46.4 million in 2023.

The corporation achieved growth in profits in 2024, reaching pre-tax JD2.3 million, compared with JD2.2 million in 2023.