Business

AMMAN — The report for the first-quarter of 2025 of the Executive Programme for the Economic Modernisation Vision (EMV) 2023–2025 has outlined several key economic decisions made by the Cabinet, aimed at supporting Jordan’s ambitions to position itself as a global investment and tourism destination.

According to the report, issued on Sunday, goods and services associated with the Jerash Eco-Tourism City Project were granted sales tax exemptions due to the project’s developmental significance, the Jordan News Agency, Petra, reported. 

Commercial tourist establishments operating within the jurisdiction of the Petra Development and Tourism Region Authority (PDTRA) were exempted from professional license fees for 2025. 

The report noted that the legal grounds for the draft Hotel and Tourism Establishments Regulation for 2025 had been approved. 

Progress is also underway on the draft amended regulation governing the Jordan Hotel Association, alongside continued procedures related to the draft regulation for tourism and travel offices and companies for 2025, and the draft amendment regulation for their corresponding association.

AMMAN — CEO of the Amman Stock Exchange (ASE) Mazen Wathaifi on Sunday said that the after-tax profits attributable to shareholders of public shareholding companies listed on the ASE, which provided their financial data, rose to JD564.4 million in the first quarter of 2025.

Wathaifi said that the figure marked an increase of 7.6 per cent, compared with JD524.6 million during the same period in 2024, the Jordan News Agency, Petra, reported.

He added that the pre-tax profits for these companies also increased, reaching JD804.3 million in the January-March period of 2025 compared with JD758.1 million in the corresponding period of 2024, marking a 6.1 per cent rise.

At the sectorial level, the CEO said that the after-tax profits for the industrial sector grew by 10.1 per cent, while the financial sector saw an 8.9 per cent increase. 

The services sector recorded a 12.7 per cent decline in profits, he pointed out.

Wathaifi noted that these positive results in the first three months of 2025, in light of the geopolitical and economic challenges facing the region and the world, highlight the “resilience, strength and capacity” of the national economy to overcome such risks “efficiently”.

He attributed these results to the “effectiveness” of the implemented economic policies, the advancement of projects under the Economic Modernisation Vision, ongoing structural and legislative reforms, improved business environment and investment climate.

Wathaifi said that the national economy has achieved several positive indicators, including a 2.5 per cent growth rate in 2024, a 5.8 per cent surge in total exports exceeding expectations, and foreign currency reserves surpassing $22 billion.

The CEO also said that 94 per cent of the 160 companies listed on the ASE have submitted their reviewed interim financial statements for the period ending March 31, within the deadline, through the electronic disclosure system XBRL.

He stressed that this percentage reflects the “strong” commitment of listed companies to the applicable laws and regulations, and the principles and standards of disclosure and transparency. 

Wathaifi added that according to ASE’s listing requirements, all listed companies are obligated to submit their reviewed financial statements, audited by their external auditors, within the designated period.

He stressed that the ASE has made these statements available on its official website [www.exchange.jo](http://www.exchange.jo)) under the circulars and disclosures section (Quarterly Data).

AMMAN — New registered companies increased by 13 per cent during the first four months of 2025, compared with the same period in 2024, the Companies Control Department (CCD) said on Sunday.

The CDD said that 2,372 new companies were registered in the January-April period of 2025, compared with 2,091 during the corresponding period of 2024, the Jordan News Agency, Petra, reported.

According to the CDD, the total registered capital during the same period exceeded JD66 million.

Recording the highest number, a total of 1,723 limited liability companies (LLCs) were registered, constituting 72.6 per cent of the overall figure, with capital exceeding JD36 million. 

The data also recorded a 49 per cent drop in the number of company dissolutions and deregistration during the first third of the year, compared with 2024.

A total of 376 companies were de-registered or dissolved, compared with 741 during the same period last year.

The CCD figures revealed that capital increases surged by 518 per cent, against the same period in 2024, reaching around JD590 million, compared with around JD145 million in 2024.

Meanwhile, 624 companies increased their capital by some JD617 million, while 97 others lowered their capital by JD79 million.

AMMAN — The Jordan Economic Forum (JEF) has held a meeting with new UK Trade Envoy to Jordan Lord Iain McNicol to explore prospects for enhanced cooperation and investment.

JEF Chairman Mazen Homoud, members of the board of directors, general assembly members, British Ambassador to Jordan Philip Hall and a representative from the UK Department for Business and Trade attended the meeting, according to a JEF statement.

The meeting focused on expanding bilateral cooperation, particularly in economic research and identifying high-value investment opportunities, emphasising the importance of building strategic partnerships to stimulate economic growth.

During the session, the forum presented a comprehensive overview of Jordan’s Economic Modernisation Vision (EMV), which aims to stimulate growth and attract investment to create sustainable jobs, thereby reducing unemployment and supporting both economic and social stability.

The forum also highlighted the “strength and resilience” of Jordan’s banking sector, noting its positive growth trajectory, which reflects “strong” investor confidence. 

The sector plays a vital role in financing economic activities, especially investments that support sustainable development.

Homoud welcomed the UK delegation and reaffirmed the forum’s commitment to fostering strategic partnerships with international institutions aimed at positioning Jordan as a leading regional hub for investment. 

He expressed appreciation for the UK’s “consistent” economic support to Jordan, most notably exemplified by the 2016 London Conference, which marked a “pivotal” moment in boosting economic cooperation between the two countries.

He stressed that the current phase requires intensified cooperation in advancing economic research to produce practical solutions for development challenges and to meet the economic goals of both kingdoms.

Homoud reiterated the forum’s commitment to “actively” connecting investors with real opportunities, pointing to Jordan’s competitive investment environment, supported by advanced infrastructure and a business-friendly legal framework. 

He invited British investors to explore new projects in renewable energy, technology and education.

For his part, Lord McNicol praised the economic reforms recently implemented by the Jordanian government, describing them as “crucial” steps towards enhancing economic stability and growth.

He expressed appreciation for the ongoing efforts to improve the business climate, affirming that Jordan holds significant potential to attract international investment.

He noted the Jordan-UK Free Trade Agreement, which facilitates “ambitious” bilateral trade cooperation, along with the free trade deals with the US, the European Union, countries of the Arab League and several others around the world, which offer valuable opportunities to Jordanian-based manufacturers and exporters.

AMMAN — Minister of Industry, Trade and Supply Yarub Qudah on Saturday discussed with British Trade Envoy to Jordan, Kuwait and Palestine Lord Iain McNicol ways to enhance economic and trade cooperation within the framework of the bilateral partnership agreement signed in 2021.

The two sides, in presence of British Ambassador to Jordan Philip Hall, went over progress in implementing the agreement, in terms of streamlining rules of origin and developing the government structure to monitor its provisions by launching a partnership council and its technical committees, the Jordan News Agency, Petra, reported.

Qudah noted the need to address challenges related to the "complexities" of the rules of origin and the "high" costs of compliance and export, compared with the facilitations granted by the UK to competing countries under the Developing Countries Trading Scheme (DCTS) programme.

Qudah called for reviewing the current terms of the "simplified" rules of origin decision to ensure Jordanian products have "preferential" access to British markets. 

For his part, McNicol stressed his country's "keenness" to expand economic cooperation with Jordan, underlining his country's support for developing the Kingdom's investment environment and enhancing trade exchange through sustainable initiatives, including support for small and medium-sized enterprises and stimulating British investment in Jordan's "vital" productive sectors.

On future action, both sides agreed on the "importance" of accelerating the pace of work to organise the upcoming Jordanian-British Business Forum.

The ministry said that the event would serve as a platform to boost partnerships in the two countries' private sectors and explore "new" cooperation opportunities, Petra added.

AMMAN — The Kingdom's financial ecosystem demonstrated "significant" liquidity depth and transactional robustness through February 2025, with key performance indicators reflecting "sustained momentum" across banking operations and capital markets, according to the Economic Modernisation Vision (EMV) quarterly performance metrics.

The total banking deposits appreciated to JD47.31 billion by February's close, while domestic liquidity reserves maintained a "solid" position at JD45.88 billion. 

The credit portfolio expansion remained bullish with total facilities extended by financial institutions reaching JD35.20 billion, signalling positive credit appetite in the market, according to data monitored by the Jordan News Agency, Petra on Wednesday.

Digital payment infrastructure exhibited exponential transaction velocity, with the "CliQ" instant settlement platform recording 51.92 million transactions representing JD5.61 billion in processed value.

User acquisition metrics for the platform reached 3.56 million registered accounts. Concurrently, the "eFAWATEERcom" electronic invoicing ecosystem facilitated 17.09 million transaction events with an aggregate value of JD3.67 billion.

In the equities space, the Amman Stock Exchange (ASE) demonstrated "substantial" foreign investor participation, with non-Jordanian stakeholders accounting for 47.6 per cent of total market capitalisation. 

The exchange maintains 161 listed entities with cumulative market value of JD19.32 billion. Trading turnover reached JD365 million across 125,151 executed contracts, with share volume totalling approximately 195.91 million units.

On the regulatory front, authorities have advanced draft provisions for securities lending and borrowing mechanisms, short position protocols, and market-making frameworks, contingent upon ratification of the amended Financial Services Licensing regime. 

Technical infrastructure upgrades have been implemented for the electronic trading architecture, enhancing system capacity and execution capabilities.

The insurance sector has progressed toward enhanced "prudential" oversight with preliminary regulatory frameworks for the Consumer Protection Fund and implementation of phase two risk-based supervisory protocols for underwriters (insurance agents).

Under the Financial Inclusion Strategy 2023-2028, regulatory authorities have executed targeted initiatives to enhance female demographic access in financial services access, while capacity building efforts in the non-banking financial sector have delivered 118 professional development modules to 1,794 industry practitioners.

AMMAN — Jordan and Saudi Arabia on Tuesday discussed means to proceed with the electricity interconnection project, as part of efforts to enhance cooperation in the energy sector. 

The meeting, hosted by Jordan's National Electric Power Company (NEPCO), focused on accelerating key agreements needed to begin implementation, according to the Jordan News Agency, Petra.

Senior officials from both sides attended the meeting, including Secretary General of the Ministry of Energy and Mineral Resources Amani Azzam and NEPCO Director General Sofyan Bataineh. 

The Saudi delegation included senior representatives from the energy sector.

According to Bataineh, discussions focused on finalising three main agreements covering implementation, operations and commercial arrangements, which are expected to be signed before the end of 2025, while the project is expected to begin commercial operations by the end of 2029.

"This interconnection will enhance the reliability of both kingdoms' electricity grids," said Bataineh, adding that the venture would allow for the sharing of energy reserves and exchanges during peak periods, improving efficiency and stabilising the grid.

He added that the project is an important step towards a broader regional electricity market and better Arab energy integration, noting that grid interconnection is “increasingly” important in renewable energy systems, helping to reduce costs and optimise performance.

Highlighting Jordan's strategic goal of becoming a regional hub for energy exchange, Azzam said: "Our ongoing work on cross-border grid projects aims to boost Jordan's position in the regional electricity market".

The project stems from a memorandum of understanding signed in August 2020, which tasked NEPCO and the Saudi Electricity Company with drafting the technical and operational agreements, said Petra.

The project is part of the wider Arab Electricity Interconnection Initiative, which aims to create a unified electricity market. 

Jordan has recently hosted one of the initiative's key coordination meetings as momentum builds towards regional energy integration, according to Petra.

AMMAN — Minister of Agriculture Khaled Hneifat on Tuesday met with representatives of "major" European companies importing Jordanian agricultural products and operating in Central Europe.

The meeting, held at the ministry in the presence of Director General of the Jordanian-Palestinian Agricultural Products Company (JPACO) Abdul Halim Dujan, explored mechanisms to expand the import of Jordanian agricultural produce and establish agreements and understandings aimed at increasing the volume of vegetable and agricultural exports through these companies. 

Discussions also focused on investment opportunities in export-oriented production and the cultivation of crops in demand in European markets, the Jordan News Agency, Petra, reported. 

The visiting delegates are scheduled to tour production sites in the Jordan Valley and Mafraq to assess JPACO’s infrastructure, including its packaging and grading facilities and affiliated farms, in order to evaluate its capacity to increase exports to European destinations.

Hneifat underscored the significance of the companies’ visit, emphasising the potential for enhanced cooperation and coordination. 

He also reiterated the readiness of the ministry and JPACO to facilitate any contracts, agreements or understandings that would contribute to boosting agricultural exports across all categories.

AMMAN — The Industrial Producer Price (IPP) index for the first quarter of 2025 stood at 107.09 points, compared to 107.21 points for the same period last year, reflecting a slight decrease of 0.11 per cent, the Department of Statistics (DoS) monthly report showed on Tuesday.

According to the report, the decline was attributed to a 1.94 per cent drop in the prices of extractive industries, which have a relative importance of 5.36 per cent, and a 0.09 per cent decrease in electricity prices, which account for 5.91 per cent of the index.

In March, the general IPP index fell by 0.38 per cent, reaching 107.21 points compared with 107.62 points in the same month last year, the Jordan News Agency, Petra, reported. 

From a sectorial perspective, the decline in the March index compared to March 2024 was mainly driven by a 0.43 per cent drop in manufacturing prices, which make up 88.74 per cent of the index, a 0.69 per cent decrease in extractive industry prices and electricity prices saw a 0.62 per cent increase.

According to the report, the IPP index for March 2025 registered 107.21 points, up from 106.96 points the previous month, marking a 0.24 per cent increase.

On a monthly basis, the index increased in March compared to February due to a 5.49 per cent rise in extractive industry prices and a 0.29 per cent increase in electricity prices, while manufacturing prices fell by 0.08 per cent.