stc sponsors ‘Sayef Expo', the specialized summer exhibition at 360 Mall
stc offers an innovative range of world-class products, services and solutions with high quality, that cater to the customers' needs and demands, both for individuals and enterprises (solutions by stc). In 2019, stc acquired 100% of the share capital of the Internet Service Provider, Qualitynet General Trading and Contracting Company (solutions by stc) in Kuwait.
stc offers high internet speeds due to the implementation of the most advanced 5G network and deployment of the largest network nationwide.
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Jordan Times
8 hours ago
- Jordan Times
EMV investment workshop focuses on driving sustainable economic growth, job creation
AMMAN — The Economic Modernisation Vision (EMV) workshops continued on Sunday at the Royal Hashemite Court with a focus on the investment sector, highlighting its role in driving sustainable economic growth and job creation, especially for youth. The workshop brought together representatives from government institutions, the private sector and civil society to review the progress achieved in the investment sector and identify priorities for the next phase of the EMV. The investment engine is a 'strategic and pivotal' pillar in supporting and achieving the objectives of the EMV by focusing its efforts on attracting local and foreign investments, improving the business environment and developing policies to accelerate the pace of benefiting from investments. It also contributes to creating an attractive investment environment in the Kingdom, which stimulates economic growth and opens wider horizons for providing job opportunities and developing productive sectors. Participants discussed Jordan's advantages, including its strategic geographical location as a gateway between Europe, Asia and Africa, bilateral investment agreements and free trade agreements (FTAs) with major markets such as the EU, the US, Arab Gulf states, Agadir and Singapore. They also pointed to providing competitive incentives in development zones, free zones, and special economic zones, as well as promising sectors with significant investment potential, such as digital economy, green hydrogen, logistics, gas, mining, industry and life sciences. The strengths of Jordan is also represented in the political stability that encourages investment, and having a young, educated, and tech-savvy workforce, in addition to enjoying the freedom to transfer capital and withdraw profits, especially that the Jordanian dinar is pegged to the US dollar. Key goals of the EMV include attracting investments worth JD41 billion (JD18 billion foreign direct investments, JD12 billion of domestic direct investment, and JD11 billion of government direct investment) by 2033. Other objectives are related to creating economic and employment opportunities to absorb more than one million young men and women in the labour market, and supporting development goals. The EMV also outlines efforts to support establishing Jordan's position as a regional centre of excellence for effective and sustainable investment, as well as enhancing Jordan's competitiveness in attracting foreign direct investment in priority sectors, such as ICT, green energy, pharmaceutical industries, tourism and logistics. The most prominent initiatives of the investment engine in the first phase include improving Jordan's rank in international indicators and reports, creating and developing new and innovative financing partnership models with the private sector, improving the investment environment in the Kingdom and developing its components. More initiatives pertain to development of an effective strategy to communicate with local and international investors, and launch an integrated promotional campaign programme, attracting and stimulating local and foreign investments, developing a comprehensive investor database, and establishing a system for managing integrated investor relations. Most prominent achievements for the investment engine for the first phase include boosting the legislative and regulatory framework that attracts investment, developing digital infrastructure and improving government services for investors, and effective promotion of quality investment opportunities. More achievements include improving investor experience and enhance post-establishment services, and boosting local and regional partnerships to implement quality projects, providing incentives and reducing investment costs, in addition to financial stimulus and revitalisation of international cooperation. Despite this progress, attendees of the workshop noted that challenges remain. Partner and General Manager of Abu-Haltam Group for Investments Iyad Abu Haltam said that the EMV has more than 350 initiatives throughout its 10-year span, noting that the progress rate in the implementation over the past three years varies between different sectors. He added: 'The progress in some sectors was less than 30 per cent, some achieved around 60 per cent, while others made a progress of 10 to 15 per cent.' The main reasons behind slow progress can be attributed to the turbulence in the region including the war on Gaza and the turbulence in the supply chain through Bab Al Mandeb Strait, Abu Haltam noted. He pointed: "We should have a proper and structured way of the dialogue between the private and the public sectors regarding any newly introduced laws or bylaws." Managing Partner of SME Investment Fund Jameel Anz said in terms of challenges: "The entire domain is challenged by a lot of factors, whether it's financing, access to finance, access to capital, access to resources, the geopolitical environment." Anz added: "SMEs do face, but sometimes at a larger scale, a higher tendency to break because of their size. At the same time, SMEs do face a challenge when it comes to corporate governance because all of these companies are friends and family based, so corporate governance is an issue." He said: "Sustainability and continuity of the companies is also an issue. So part of helping promote and sustain these companies is to help them with access to finance, help them with capacity building, moving them out of the friends and family [atmosphere] into a more corporate structure." "Solutions for SMEs are capacity building. Access to finance and corporate governance are others." Anz noted.
Jordan Times
8 hours ago
- Jordan Times
EMV mining workshop highlights Kingdom's drive to unlock mineral potential, attract investment
AMMAN — The Economic Modernisation Vision (EMV) workshops continued Sunday at the Royal Hashemite Court with a dedicated session on Jordan's mining sector, underscoring its strategic role in boosting industrial growth, export diversification, and regional development. Bringing together policymakers, investors, and sector experts, the session assessed progress under the EMV's first phase while charting future directions to unlock the full potential of the Kingdom's mineral wealth. Officials and participants highlighted Jordan's rich reserves of phosphates, potash, bromine, copper, and rare earth elements, calling them a cornerstone of the country's industrial base. Jordan ranks seventh globally in phosphate reserves and remains one of the world's top producers of both potash and phosphate. These assets, they said, offer strong potential for attracting foreign direct investment, expanding downstream industries, and enhancing value-added exports in chemicals, fertilisers and metals. The mining sector currently contributes around 8 per cent of Jordan's GDP and accounts for more than 20 per cent of national exports. Companies such as Arab Potash Company (APC) and Jordan Phosphate Mines Company (JPMC) have played pivotal roles in positioning Jordan as a major regional exporter. Stakeholders noted that productivity in the sector remains high, with mining jobs ranking second in GDP contribution per employee after financial services. However, they stressed the need to improve geological surveying, update regulatory frameworks, and streamline licensing procedures to encourage sustainable expansion. The sector's goals under the EMV include boosting employment, especially in mining governorates, improving the investment climate, expanding industrial mining beyond phosphates and potash, and promoting environmentally responsible practices. Plans are also underway to establish an independent geological survey authority and improve data transparency to international standards. Among the key achievements in the first phase were the launch of an online platform showcasing investment opportunities in minerals such as basalt, silica, gypsum, kaolin, dolomite, and feldspar. Additionally, a new regulation was issued in 2020 to govern strategic resource projects, including oil shale, coal, and critical minerals. Participants also emphasised the importance of aligning mining policies with international environmental standards and integrating renewable energy to lower production costs and emissions, thereby strengthening the sector's international competitiveness. As Jordan advances into the next phase of the EMV, the mining sector is poised to become a key driver of industrialisation and sustainable economic development, leveraging both existing strengths and untapped mineral potential. CEO of the Arab Potash Company (APC) Maen Nsour, in an interview with The Jordan Times, reiterated the company's role as one of the 'locomotives of the Jordanian economy', outlining its alignment with the EMV through major investments in production expansion, sustainability and high-value exports. 'We have worked very hard during the past three years to achieve the objectives of the economic vision,' Nsour said, stressing the company's focus on attracting foreign direct investment combined with advanced technologies. A key example, he noted, is the expansion of the Jordan Bromine Company, a joint venture with the American company Albemarle, with a new $813 million investment. 'When we finish this expansion, Jordan will become the largest producer and exporter of bromine and tetrabromine,' he said, highlighting the strategic importance of these commodities across international industries. Nsour also highlighted a $1.1 billion expansion project aimed at increasing potash production by 750,000 tonnes annually. Upon completion, Jordan's total output would reach around 4 million tonnes per year. 'These quantities will be exported to markets in Europe, Brazil, China, India and across the Arab world, and also used in high-value-added industries such as fertilisers and chemicals,' he added. On sustainability, Nsour stressed the centrality of environmental responsibility to APC's strategy. 'We want to maintain an industry that is compatible with the environment and serves the best interests of future generations in Jordan,' he said. He also noted that meeting international sustainability standards, particularly the EU's carbon border adjustment requirements, is essential to maintaining and growing Jordan's presence in key export markets. 'You cannot do that unless sustainability and environmental aspects are very well taken into account,' he said. Jordan Bromine Company (JBC) General Manager Samer Asfour underlined the mining industry's role in job creation and value-added exports. He told The Jordan Times that the company currently employs around 640 Jordanians and is moving ahead with expansion plans expected to boost that number to over 1,000. 'We're definitely bringing foreign currency into the country, addressing unemployment challenges, and playing a major role in the national GDP and total exports,' he said. Asfour also stressed that innovation and technological advancement are central to the company's competitiveness in global markets. 'Our expansion projects are part of a continuous effort to enhance efficiency, increase revenues, and improve the sophistication of our products,' he noted, adding that this aligns closely with the EMV's goals for industrial innovation and export growth. He also pointed to the company's existing international partnerships as a model for sector development. 'JBC is already a successful joint venture between the Arab Potash Company and the largest bromine company in the world. Our ongoing investments reflect our commitment to the local economy and the broader objectives of the EMV.' Arab National Mining Company CEO Ayman Ayash highlighted the company's alignment with the EMV, noting that it was launched as a private sector initiative aimed at unlocking the full potential of Jordan's mineral resources 'The company came as an initiative from the private sector to implement His Majesty King Abdullah's vision for the mining sector,' Ayash. He explained that the firm was founded by prominent Jordanian and regional businessmen to reinforce the strategic partnership between the government and private sector in advancing the mining industry. Ayash stressed that real progress in the mining sector requires foundational reforms across five key areas. He called for the establishment of an independent geological survey authority, describing it as a necessary 'incubator' for the sector. 'This would serve as the backbone for reliable data and resource planning,' he said. Ayash also emphasised the importance of administratively separating the mining and energy sectors, stressing that they are fundamentally distinct industries. 'As long as we continue to operate under a unified Ministry of Energy and Mineral Resources, mining will remain a secondary priority and receive limited attention,' he said. The third priority, he said, is to overhaul existing laws and regulations to align with international best practices and make Jordan more competitive in attracting international investors. 'We must revamp the laws so they are at least equal to those in neighbouring countries,' he said. Ayash also emphasised the importance of establishing a comprehensive mining databank. "This would consolidate geological, geochemical and geophysical data, including borehole samples and historical exploration reports, to provide a solid foundation for future investment and exploration. He also underscored the need for comprehensive financial reforms, calling for the introduction of a more competitive fiscal system and a government-backed exploration enablement program. 'We need a tradable stock exchange platform dedicated to junior mining companies,' he added. 'These companies are the driving force behind international exploration efforts, and they must have reliable access to financing to carry out their work effectively.'
Jordan Times
8 hours ago
- Jordan Times
National exports rise 9.2% in first 5 months of 2025 — DoS
AMMAN — The Kingdom's national exports recorded a 9.2 per cent increase during the first five months of 2025, reaching a total value of JD3.578 billion, compared with JD3.276 billion during the same period in 2024, the Department of Statistics' (DoS) monthly foreign trade report showed on Sunday. The value of re-exports also rose by 2.3 per cent, amounting to JD360 million by the end of May this year, up from JD352 million for the same period last year, according to the Jordan News Agency, Petra. As a result, Jordan's total exports climbed by 8.5 per cent to JD3.938 billion, compared with JD3.628 billion in the January-May period of 2024. Imports rose by 8.6 per cent, reaching JD8.135 billion by the end of May, compared with JD7.439 billion for the same period last year. This increase widened the trade deficit, defined as the difference between total exports and imports, to JD4.197 billion, up from JD3.865 billion during the same period in 2024, marking an 8.6 per cent rise. Despite the widening deficit, the export-to-import coverage ratio held steady at 48 per cent during the first five months of 2025, matching the same ratio recorded during the corresponding period last year. In May alone, total exports reached JD901 million, including JD826 million in national exports and JD75 million in re-exports. Imports for the month stood at JD1.581 billion, resulting in a trade deficit of JD680 million. Compared with May 2024, total exports in May 2025 grew by 2.4 per cent, driven by a 4.8 per cent increase in national exports. Re-exports declined by 18.5 per cent, while imports fell by 5.6 per cent. These shifts led to a 14.5 per cent decrease in the trade deficit for the month. The export coverage ratio for May alone rose to 57 per cent, compared with 53 per cent in May 2024, marking an improvement of four percentage points.
