Business

AMMAN — Jordan has climbed 17 spots in the World Bank’s Women, Business, and the Law 2024 report, ranking 161out of 190 countries with a score of 59.4 out of 10.

This marks a 12.5-point improvement from last year, placing Jordan above the Middle East and North Africa (MENA) regional average of 54.7, according to the 2024 executive report of Economic Modernisation Vision (EMV) published on Tuesday.

This progress is attributed to amendments in the Labour Law, which explicitly prohibits gender-based discrimination in employment for the first time, according to the executive programme report of the EMV 2023-2025, the Jordan News Agency, Petra, reported.

The government has conducted an analytical study on Jordan’s performance in the index, identifying strengths, weaknesses, and benchmarking against successful countries.

A "key milestone" in the executive action plan was the issuance of Flexible Work System No. 44 of 2024, introduced under Labour Law No. 8 of 1996, to support greater workforce participation among women.

AMMAN — Minister of Industry, Trade, and Supply Yarub Qudah on Monday met with Iraqi Prime Minister Mohammed Sudani in Baghdad to discuss enhancing bilateral relations across economic and commercial sectors.

The talks, held on the sidelines of the Jordanian-Iraqi Joint Trade Committee meetings, focused on advancing industrial and commercial cooperation between the two nations, the Jordan News Agency, Petra, reported.

The discussions focused on developing the joint border economic city aimed at promoting economic integration, stimulating investment and reinforcing partnerships. 

Participants also reviewed progress on the Iraq Development Road project, outlining its strategic axes and associated projects designed to yield mutual benefits.

Qudah, who led the Jordanian delegation, reiterated the government’s support for Iraq’s initiative to host the Arab Summit in Baghdad later this year.

Also on Monday, the Jordanian-Iraqi Joint Trade Committee concluded its meetings in Baghdad with signing an agreement between Qudah and Iraqi Minister of Trade Atheer Ghurairi.

Both sides signed a memorandum of understanding for standardisation and quality control, Petra reported.

Discussions covered cooperation in trade, industry, customs and contact points, with an agreement to schedule the next session at a later date.

Qudah also met with several Iraqi ministers and officials to discuss economic cooperation, attended the opening of the Baghdad International Fair, and participated in the Jordanian-Iraqi Business Forum, which was held on Sunday.

AMMAN — The 2024 annual report of the Economic Modernisation Vision’s (EMV) executive programme on Monday highlighted key achievements in Jordan’s tourism sector.

The report detailed progress in various initiatives, including efforts to stimulate charter and low-cost flights, develop tourism experiences and enhance promotional campaigns, the Jordan News Agency, Petra, reported. 

The number of international visitors reached 6.1 million, generating JD5.1 million in tourism revenue. 

Employment in the sector totalled 56,000, while 182,000 passengers arrived on low-cost airlines, and 163 passengers used charter flights. Sales of the Jordan Pass reached 99,100 tickets.

Key infrastructure improvements included equipping the Amman Citadel and Jordan Museum to accommodate people with disabilities and restoring multiple archaeological sites such as Shobak Castle, the Byzantine Church in Aqaba, and the Jerash archaeological wall. 

The report also referred to the launch of an electronic ticketing system across tourist sites.

Investment in tourism connectivity saw new flight routes established from Madrid, Paris, Brussels, Krakow and Milan for the 2024/2025 winter season, with additional routes from London, Budapest and Abu Dhabi. 

Plans for 2025 summer season include resuming flights from Rome, Vienna and Milan, alongside potential new routes from Poland.

The "Urdunnah Jannah" programme organised 10,000 domestic trips with over 311,000 participants, while the Ajloun cable car attracted 360,000 visitors. 

The government also initiated a medical tourism strategy, enhanced Christian pilgrimage routes and expanded adventure tourism experiences, including the Jordan Trail and heritage village trails in Tafileh and Ajloun.

Legislative efforts advanced with amendments to tourism-related laws and regulations, while investments were promoted through the development of the Al Suwan and Dead Sea areas.

Also, 1,100 trainees were equipped with tourism sector skills, and small business opportunities were created through initiatives such as the Nabataean Cultural Village in Petra.

Marketing efforts saw 146 promotional campaigns across 42 countries, leveraging digital platforms and international tourism exhibitions, where the Kingdom also signed global agreements to boost its status as a world-class tourist destination.

AMMAN — Qatar’s market imported some $55 million worth of Jordanian agricultural goods in 2024, according to figures released on Monday by Qatar’s Planning and Statistics Authority.  

This figure marked a 7.2 per cent increase from $51 million recorded in 2023, the Jordan News Agency, Petra, reported. 

Qatar’s imports of Jordanian agricultural products are primarily focused on vegetables and fruits, which account for 22 per cent of the total trade volume between the two countries, amounting to $250 million in 2024.  

The overall trade volume between Qatar and Jordan reached around $250 million in 2024, compared to $236.2 million in 2023 and $219.7 million in 2022.  

The trade balance between Jordan and Qatar has been experiencing "rapid" growth, driven by Qatar’s increasing demand for Jordanian food and products.

This upward trend has been particularly noticeable since 2020.  

Qatar’s domestic agricultural production is limited to certain vegetable varieties, while all fruit products are imported from Jordan and other international markets.  

The Gulf country's vegetable production now stands at around 1,000 tonnes per day, covering about 50 per cent of local consumption needs.

According to traders, this production gap has led Qatar to rely "significantly" on Jordanian agricultural products, which have become one of Doha's key sources for fruits and vegetables due to their "high quality, higher standards, and competitive prices" compared to similar imports from other markets.

AMMAN — Minister of Industry, Trade and Supply Yarub Qudah on Sunday underscored ongoing discussions between Jordan and Iraq on major strategic projects in the energy and food sectors, stressing the "deep-rooted" economic ties between the two countries.

Speaking at the Jordanian-Iraqi Business Forum in Baghdad, Qudah highlighted Iraq’s wheat surplus, which Jordan is exploring as a potential import source, reducing reliance on other suppliers, the Jordan News Agency, Petra, reported. 

He said: "Economic and trade relations between Jordan and Iraq go beyond mere profitability; they are built on complementarily and genuine partnership."

Qudah emphasised that while governments facilitate business, they also serve as key enablers of the special economic relationship between the two nations, aimed at achieving mutual interests. 

He commended Iraqi investments in Jordan, noting that their products are exported to over 70 countries. 

Jordan, he added, also has significant investments in Iraq, with plans for further expansion to meet the needs of the Iraqi market and leverage Iraq as a gateway to global markets.

The minister also highlighted the significance of the planned joint economic zone on the Jordanian-Iraqi border, which is set to become a key industrial hub targeting regional and international markets. 

The minister stressed the importance of direct trade partnerships between Jordanian and Iraqi business communities, facilitated by the necessary governmental infrastructure.

Iraqi Minister of Industry and Minerals Khaled Battal described bilateral ties as "historical and fraternal, forming the foundation for strong trade and business cooperation."

He noted that Jordan is the only country with a trade agreement with Iraq, underscoring the need to implement and activate the provisions of the 2012 agreement to bolster economic relations.

Battal pointed out that Iraq imports goods worth $60 billion annually, prioritising products manufactured in Jordan regardless of ownership. 

He highlighted Iraq’s growing market demand, presenting a significant opportunity for Jordanian exports, noting that Jordanian exports to Iraq remain "modest and must be increased to higher levels to achieve economic integration and mutual profitability."

President of the Jordan Chamber of Industry Fathi Jaghbir emphasised the forum’s role in expanding economic cooperation, particularly in the industrial sector. 

He called for accelerating the implementation of signed agreements to maximise economic benefits, stressing the Jordanian private sector’s commitment to boosting industrial and trade ties with Iraq.

Jaghbir noted that Jordan-Iraq trade has improved "significantly" in recent years, with bilateral trade reaching some $1.4 billion last year. 

He attributed this growth to continuous public and private sector efforts to facilitate trade flows, adding that Jordan’s industrial sector boasts high production capacity across multiple industries, including food, pharmaceuticals, chemicals, plastics, engineering and construction, all catering to Iraqi market demands.

Head of the Federation of Iraqi Chambers of Commerce Abdul Razzaq Zuhairi stressed the importance of diversifying Jordanian exports to Iraq to meet evolving consumer preferences.

Head of the Iraqi Economic Council Ibrahim Masoudi reiterated the necessity of enhancing coordination and cooperation between the two countries in light of regional economic challenges. 

He highlighted Iraq’s commitment to supporting the private sector by attracting investment, improving legislation and offering investor guarantees.

The forum, organised by the Jordan Chamber of Industry in cooperation with the Jordan Exports Company, provided an "ideal" platform for discussions on advancing economic relations, increasing investments and fostering strategic partnerships between Jordan and Iraq.

The event brought together Iraqi business leaders and Jordanian industrial firms representing sectors such as food, packaging, chemicals, cosmetics, wood and furniture, plastics, textiles, engineering, construction, pharmaceuticals, and medical supplies. 

Bilateral meetings and a panel discussion on the future of Jordan-Iraq trade were held on the sidelines of the forum.

AMMAN — The Jordanian Enterprise Development Corporation (JEDCO) has secured a total of JD23 million in funding for its economic development programmes between 2022 and 2024. 

This funding has been provided by a range of local, regional and international partners, the Jordan News Agency, Petra, reported on Sunday.

According to the Strategic Plan Results Report for the 2022-2025 period, a total of 6,200 beneficiaries have received support through eight different programmes over the past three years, including 2,305 direct beneficiaries and 3,895 indirect beneficiaries.

The JEDCO has delivered its programmes through partnership agreements, funding initiatives, and memoranda of understanding with a number of key organisations.

These institutions include the International Islamic Trade Finance Corporation of the Islamic Development Bank Group, Global Affairs Canada, Canadian Trade Facilitation Office, TTi Organisation, Arab International Centre for Entrepreneurship, International Fund for Agricultural Development, United Nations Development Programme, German Savings Banks Association and United Nations Industrial Development Organisation.

They also include the ministries of agriculture, investment, industry, trade and supply and planning, chambers of commerce and industry, the National Agricultural Research Centre, Jordan Standards and Metrology Organisation, Jordan Exporters and Producers Association for Fruit and Vegetables, Jordan River Foundation, Central Bank of Jordan, and several universities.

The "Start Your Project" programme, which targets individuals and startups with a maximum age of three years, aimed at supporting small and micro projects across various governorates and generating 200 permanent job opportunities, contributed JD4.161 million, benefiting 228 recipients, marking an increase from the initial target of 130.

The "Develop" programme, designed to support existing small, medium, and micro enterprises in all governorates and improve their marketing, export capacities, and obtain international quality certifications to enhance the competitiveness of national products, supported 104 recipients, exceeding its target of 60, with a total of JD1.369 million.

The "Your export is at our expense" programme, aimed at offering financial support covering 50 per cent of the cost of shipping industrial and agricultural products by sea and air to international markets, supported 143 recipients, surpassing the target of 140, with a value of JD500,000.

The "Industrial Modernisation" programme, part of the Industrial Support Fund, supported 131 beneficiaries, reaching JD12 million, in line with Jordan's economic modernisation vision to boost industrial output and expand export bases to global markets.

The "Quality of Life at Home" programme, focused on improving living standards and supporting remote work and technology in rural areas, supported 18 beneficiaries, reaching a total funding of JD84,000.

The "Rural Economic Development and Employment" programme provided technical and financial support to 1,724 beneficiaries, an increase from 330 targeted, benefiting small farmers, rural women and youth with a total value of JD4.223 million.

The "Empowerment" programme supported four beneficiaries with a total of JD180,000, aiming to enable small and medium-sized enterprises to improve classification and reduce costs across various industrial, service, agricultural, tourism and creative sectors.

The "Consultation" programme of the National Export Strategy, supported 50 beneficiaries, focusing on enhancing the export competitiveness of consultancy services for women-owned and/or women-managed businesses, providing JD500,000 in funding over three stages.

Recently, the board of directors of JEDCO, chaired by Minister of Industry, Trade and Supply Yarub Qudah, approved a new strategic plan for 2025-2027. 

The plan aims to position JEDCO as a leader in supporting small, medium, and micro enterprises, fostering development for sustainable growth.

AMMAN — The Telecommunications Regulatory Commission (TRC) transferred JD175 million to the Treasury in 2024, according to sector performance indicators released by the commission on Sunday.

The report noted that 18,715 customs declarations were processed at the commission’s external offices throughout the year, the Jordan News Agency, Petra, reported. 

In regulatory activities, the commission issued 3,415 type approvals for telecommunications equipment, including new and renewed certifications. 

Also, 3,000 device entry approvals of various types were granted, while 207 exemptions were issued for fifth-generation (5G) infrastructure.

In the post sector, the number of licensed operators reached 176, comprising 163 domestic private operators, 12 international private operators, and one public operator.

Jordan ranked 83 globally in mobile internet speeds and 34th in fixed internet speeds as of November 2024, the report said, adding that the average mobile internet speed stood at 31Mbps, while fixed internet speeds averaged 161Mbps.