Business

AMMAN — The number of registered companies in January 2025 increased by 13 per cent compared to the same month of 2024, and by 705 companies compared to 623 companies in January 2024, Al-Rai Daily reported on Saturday.

According to the Companies Report issued by the Companies Control Department, the total registered capital amounted to more than JD20 million, as the highest types of companies registered in 2025 with limited liability, with 541 companies, 76.9 per cent of the registered companies, and registered capital of more than JD13 million.

A total of 25 companies reduced their capital by a total of JD46 million, while 154 companies raised their capital totalling about JD104 million, raising the rate of capital increase by 144 per cent over the same period of 2024, amounting to over JD53 million.

The number of companies that were delisted or deregistered decreased during January by 63 per cent, or 93 companies, compared to the same month of 2024.

AMMAN  — The Jordan Economic Forum (JEF) held a dialogue session on Friday to discuss the role of statistics in presenting indices on financial and economic indicators on the Jordanian economy. 

The session was attended by Department of Statistics (DoS) Director General Haidar Freihat, JEF Chairman Mazen Hmoud and some JEF members, Al-Mamlaka TV reported on Saturday.

Accurate statistical data is the "cornerstone" of drawing the economic and development policies, Friehat said, noting that Jordan witnessed "unprecedented" demographic and economic transformations during the last two decades due to successive waves of refugees. 

Such refugee influxes pressured the infrastructure, especially education, health, water and energy sectors, and as a result this requires development planning strategies based on in-depth analysis for figures and trends, Friehat pointed out. 

He also pointed out that DoS plays a pivotal role in providing accurate data to decision-makers, adding that Jordan has become an Arab "role model" in the field of providing accurate, scientific and reliable statistics, as the Department ranks advanced globally according to the World Bank's Statistical Performance Index (SPI), which measures the quality and accuracy of data, and the Open Data Index.

The accuracy of the numbers directly affects the planning process, as any error in measurement may lead to ineffective policies, especially with a time gap between the deadline for the implementation of programmes and projects and the phase of measuring their impact, the DoS director general highlighted.

There are several challenges facing statistical work, most significantly the continuous change in international measurement standards, such as changing the definition of unemployment by the International Labour Organisation, which led to an increase in the unemployment rate in Jordan by two points within a short period, he pointed out.

Freihat also added that the Kingdom, through the department, is currently working on a project to measure the size of the informal economy, to help reveal the size of unmeasured economic activities, allowing the government to truly expand the base of the economy.

Jordan annually produces statistical data at a cost of JD15 million, including surveying, estimation and reporting operations, Freihat said, adding that the goal now is to maximise the benefit of this data, so that it is not limited to production but extends to effective use in planning and decision-making, he added.

Freihat stressed that the statistical future in Jordan is moving towards interactive analysis and artificial intelligence, which will make the data more accurate and easy to use, stressing that decision-makers, whether in the government or in the private sector, will benefit from these transformations in improving strategic planning for sectors.

AMMAN — Vice President of the Jordan Free Zones Investors Commission Sharafeddin Rifai on Saturday announced that 750 investors from Jordan, Iraq and Syria have applied to rent sections in the Jordanian-Syrian joint free zone, reflecting a "growing interest" in investing in this vital area. 

Rifai pointed out that 70 per cent of the land of the free zone needs to be rehabilitated, including paving roads, building exhibitions and establishing storage hangars, requiring additional investment to ensure readiness to receive commercial and industrial activities, the Jordan News Agency, Petra, reported.

He stressed that the prices offered for investment in the zone are "very competitive," which enhances investment sustainability and encourages more investors to expand their business.

Rifai pointed out that investors are currently focusing on storing goods, taking advantage of the absence of transit fees for goods crossing from the Syrian side, which gives them an "important" logistical advantage that contributes to reducing operational costs.

He stressed that the operation of the joint Syrian-Jordanian free zone is beneficial to the Jordanian economy, noting that this contributes to activating the handling movement in Aqaba, and then operating the Jordanian transport fleet, which enhances the Kingdom's role as a regional centre for transport and trade.

Rifai also called for facilitating the entry of Syrian investors through the Jaber border crossing, which would increase investment opportunities within the kingdom.

AMMAN — The Income and Sales Tax Department (ISTD) on Thursday was awarded the ISO 22301:2019 certification for business continuity management, a "significant" international recognition that underscores the department's preparedness to maintain operations during emergencies and crises.

ISO 22301 is the global standard for business continuity management systems, providing a structured approach to identifying and mitigating potential threats to institutions.

The certification outlines the necessary measures to reduce the risk of incidents, limit their impacts and establish a recovery framework for effective response and recovery, the Jordan News Agency, Petra, reported.

This certification highlights the ISTD's efforts in planning, analysis and evaluation of potential risks, as well as its commitment to enhancing its ability to recover swiftly and manage incidents with efficiency and organisation.

ISTD Director General Hussam Abu Ali stressed that the certification reflects the department's "dedication" to ensuring business continuity and its capacity to handle emergencies in an orderly and systematic manner. 

He also noted that the achievement "boosts public trust in the department’s ability to provide consistent and reliable services, even in challenging situations."

The certification was awarded after a thorough audit process, in which the certifying authority ensured the department’s successful implementation of the business continuity management system and its compliance with the ISO 22301 standard.

The audit process included an assessment of risk analysis, the development of emergency and recovery plans, documentation of policies and procedures and the implementation of training and regular tests to ensure the department's resilience in times of crisis.

AMMAN — Remittances from Jordanian expatriates are increased by 2.8 per cent in 2024, reaching a total of $3.6 billion, up from $3.5 billion in 2023, preliminary data released by the Central Bank of Jordan showed on Thursday.

The figures also showed that remittances in December alone increased by 1.3 per cent, reaching $330.2 million, the Jordan News Agency, Petra, reported.

Remittances of Jordanians abroad are considered among the CBJ’s most important sources of foreign currency, which also include tourism revenues, returns of national exports and foreign loans and grants.

During a recent meeting with the Lower House Tourism Committee to discuss the ministry’s 2024 achievements and the challenges facing the sector, Minister of Tourism and Antiquities Lina Annab revealed a decline in tourism revenue and visitor numbers in 2024 compared to 2023.

During the meeting, Annab highlighted that 2023 was a "record-breaking" year for Jordanian tourism, adding that in 2024, tourism revenue fell by 2.3 per cent to JD5.132 billion compared to JD5.25 billion in 2023.

Also, the number of visitors dropped by 3.9 per cent, reaching 6.108 million in 2024 compared to 6.353 million in 2023.

The tourism sector faced significant setbacks in 2024 due to regional shocks, including the Israeli war on Gaza, whose ripple effects impacted Jordan's tourism industry. This downturn came after the sector experienced "peak success and performance" in 2023.

AMMAN — The general index of industrial producer prices in Jordan decreased by 0.58 per cent in 2024, reaching 107.12 points compared to 107.5 in 2023, according to the Department of Statistics' monthly report released on Thursday.

The decline was primarily driven by a 0.69 per cent drop in manufacturing prices, which hold a relative importance of 88.74 per cent, and a 2.27 per cent decrease in extractive industry prices, with a relative importance of 5.36 per cent. 

In contrast, electricity prices saw an increase of 2.70 per cent, accounting for 5.91 per cent of the index, the Jordan News Agency, Petra, reported. 

In December 2024, the general index recorded a 0.98 per cent decline, reaching 106.26 points compared to 107.32 in December 2023. 

This was attributed to a 0.99 per cent decrease in manufacturing prices and a 1.83 per cent drop in electricity prices, while extractive industry prices showed a marginal increase of 0.02 per cent.

On a monthly basis, the index fell by 0.26 per cent in December 2024 compared to November 2024, reflecting declines in manufacturing prices by 0.06 per cent, extractive industry prices by 1.23 per cent, and electricity prices by 2.34 per cent.

AMMAN — A total of 5,169 homes and 371 sites benefited from Jordan's rural electrification projects at a financial cost of about JD14.16 million in 2024, the Ministry of Energy and Mineral Resources announced on Thursday.

The ministry said that Fils Al Reef, a fee added to each kilowatt a household uses, contributed to expanding the Kingdom's electricity network to cover all segments of the population, the Jordan News Agency, Petra, reported. 

The ministry added that this effort focused on small rural communities, mainly residential blocks consisting of only five homes, as 434 homes were powered at a financial cost of some JD2.13 million.

Fils Al Reef also supported 929 individual homes located outside the regulatory boundaries at a cost of JD652,502.

The ministry stressed its commitment to improving residents' living standard of areas outside the regulatory boundaries to provide support to homes of impoverished households, as JD97,026 was allocated to serve 97 homes.

Fils Al Reef contributed to increasing the capacity of transformer stations to reduce weak power current and decrease electrical loss, at a cost of JD208,444 and lighting of 104 cemeteries was financed with JD675,489 to improve services for citizens.

In the field of supporting productive sectors, 37 agricultural, industrial and investment projects in areas outside the regulatory boundaries benefited from Fils Al Reef at a cost of around JD1.02 million.

The ministry referred to the contribution of Fils Al Reef in supporting government and security projects by allocating some JD4.88 million to help enterprises of government sectors, cooperatives and charitable societies in remote areas.

In the context of exploiting alternative energy, a tender was floated to install solar cell systems connected to the Kingdom's network for 1,086 homes for underprivileged families, while solar systems were allocated to benefit 1,493 military injured personnel, which would contribute to improving their life quality.

Regarding the initiative to replace lighting units, 410,000 traditional lighting fixtures were replaced with energy-saving units (LED), at a cost of JD5 million, which reduced financial burdens and achieved a "safer" environment in municipalities.

The ministry pledged to continue to implement projects to support "sustainable" energy in remote areas to ensure a "more sustainable and safe" environment for citizens nationwide.

The ministry noted electricity is delivered to Jordan's villages and rural communities under regular networks or renewable energy sources, aimed to reduce the financial burdens on citizens and provide power to remote homes and sites and cutting electricity bill for low-income families.

On Fils Al Reef's policy, the ministry said that the initiative operates according to the principles and instructions approved by the Council of Ministers, aimed to achieve local development and meet needs of rural communities, focusing on energy sustainability in remote areas by using local sources, mainly solar energy.

AMMAN — President of the Jordan and Amman Chambers of Industry Fathi Jaghbir, affirmed in a statement on the occasion of His Majesty King Abdullah’s birthday, which falls on Thursday, that the Jordanian industrial sector has witnessed significant progress during the King’s reign. 

Since assuming power, His Majesty has been committed to building a self-sufficient national economy capable of keeping pace with global economies, the Jordan News Agency, Petra, reported.  

He said, "In line with His Majesty’s directives and his continuous efforts to enhance Jordan’s foreign trade, the country joined the World Trade Organization (WTO) at the end of the 20th century. This was a major step in opening trade horizons for national products, granting Jordanian exports access to more than 150 countries within a transparent and well-regulated environment of procedures, laws, and regulations." 

On the industrial exports front, Jaghbir noted that they have seen remarkable growth since His Majesty assumed power.

Jordanian products now reach over 1.5 billion consumers across more than 148 markets worldwide, with exports increasing from approximately JD993 million in the late 20th century to an annual value exceeding JD7.9 billion in 2022.

During the first three quarters of 2023, industrial exports reached around JD5.9 billion.  

He pointed out that the sector’s added value has also grown, rising from about JD1 billion in 1998 to nearly JD7.33 billion in 2022. 

This growth is reflected in the industrial sector’s contribution to GDP, which increased from around 19 per cent to approximately 21.7 per cent in 2022.  

Jaghbir added, "His Majesty’s keen interest and efforts in attracting investments have led to a significant increase in industrial investment, which has nearly doubled in recent decades to approximately JD15 billion. This has been accompanied by a rise in the number of industrial establishments from around 4,000 in 1999 to more than 18,000 today, spread across all governorates of the Kingdom."  

He further highlighted that Jordan was among the first Arab countries to establish vocational and technical training centres and to develop its education system. This has had a direct impact on the industrial workforce, which today employs nearly 268,000 workers, the majority of whom are Jordanians, representing over 21 per cent of the country’s total workforce, compared to around 140,000 workers in 1999.  

He emphasised that His Majesty’s relentless efforts have recently present in the launch of the Economic Modernisation Vision, which aims to improve quality of life by creating high-income job opportunities across all governorates. 

The vision seeks to increase the industrial sector’s output from JD5.3 billion to around JD11.1 billion by 2033, while boosting industrial exports from approximately JD4.8 billion in 2021 to nearly JD19.8 billion by the end of 2033.

AMMAN — Minister of Labour Khaled Bakaar met on Wednesday with the Saudi Minister of Human Resources and Social Development Ahmed Rajhi in Riyadh to discuss expanding job opportunities for Jordanians in the Saudi private sector.

The meeting took place ahead of the Second International Labour Market Conference, which kicked off on Wednesday in the Saudi capital, according to the Jordan News Agency, Petra.

The discussions focused on enhancing labour cooperation, vocational and technical training and promoting Jordanian talent in the Saudi workforce.

Both ministers stressed that these efforts are in line with the strong political will of the leadership of both kingdoms. 

They also reiterated the deep-rooted relations between Jordan and Saudi Arabia and stressed the importance of strengthening bilateral cooperation, especially in the field of human resources development.

Bakaar highlighted the diverse expertise of Jordanian professionals in various sectors, noting that their skills could significantly benefit the Saudi labour market. 

Rajhi commended the reputation of Jordanian professionals in various industries. 

He noted that the conference aims to address global labour market challenges, particularly the impact of rapid technological advances on employment opportunities worldwide.

Also on Wednesday, Bakkar and his Qatari counterpart Ali Bin Smaikh Al Marri met to discuss expanding opportunities for Jordanian professionals to work in Qatar. 

This initiative, launched under the directive of Qatar’s Emir Sheikh Tamim Bin Hamad Al Thani, aims to capitalise on Jordan's skilled workforce to meet the growing needs of the Qatari labour market. 

They also discussed strategies to overcome obstacles that may hinder the employment of Jordanians in Qatar's private sector.

Both ministers stressed the importance of strengthening cooperation and sharing expertise in areas such as vocational training, labour market development and the integration of technology to ensure a supply of skilled workers.