Latest news with #Al-Jaghbir
Jordan News
3 days ago
- Business
- Jordan News
Jordan's Qualification for the World Cup a Promising Economic Opportunity for Industrial Sectors
President of the Jordan Chamber of Industry, Eng. Fathi Al-Jaghbir, emphasized that Jordan's qualification for the FIFA World Cup presents a valuable economic opportunity for several industrial sectors, including leather and garment industries, food and beverage production, packaging, and health and medical supplies. اضافة اعلان Speaking to the Jordan News Agency (Petra), Al-Jaghbir stated: 'This historic achievement should not be viewed merely as a sports victory, but rather as a true economic and export platform that enhances the Kingdom's industrial presence on the global map.' He added that this opportunity lies in its potential to merge Jordan's national identity with its industrial products, helping to promote the Kingdom both culturally and economically on the international stage, while boosting exports and opening new global markets for Jordanian industries. Al-Jaghbir highlighted that World Cup qualification offers a strategic platform to expand industrial exports into promising markets. He stressed the need for smart promotional campaigns that highlight the quality of Jordanian products while showcasing their cultural identity. He also called for the preparation of a comprehensive national industrial marketing strategy, built on a genuine public-private partnership, and focused on tapping into more than $4 billion worth of untapped export opportunities in the industrial sector. The momentum surrounding the World Cup, Al-Jaghbir noted, is a chance to build consumer trust in Jordanian products through national campaigns and seasonal exhibitions that link sports identity with national industry, fostering a positive image of Jordanian industry—not just as a commodity but as a symbol of identity and excellence. He pointed out that the industrial sector recorded an outstanding performance during the first third of 2025, considered one of the best in the past two decades, despite ongoing regional challenges impacting supply chains and export markets. The sector contributed over one-third of Jordan's GDP growth. This performance, he explained, is mainly due to exceptional growth in the manufacturing sector, which increased by 11% in the first quarter of 2025—the highest growth rate in more than 17 years. This growth is a vital indicator of the recovery and expansion of Jordanian industries, despite regional and global challenges related to supply chains and production costs. According to Al-Jaghbir, Jordanian industrial exports reached their highest historical level during the first third of this year, growing by 8% compared to the same period in 2024. This reflects sustained positive export momentum. Exports reached 2.5 billion dinars in the first third of 2025, compared to 2.3 billion dinars during the same period in 2024. This growth was driven by a notable increase in exports across six main industrial sectors, including a 133% surge in construction materials, 24% in food products, 12% in chemicals, and 14% in packaging. Apparel and engineering industries both grew by 6%. Al-Jaghbir praised the government's recent steps and direction, which signal a positive shift in handling the national economy and particularly the industrial sector. He noted that the government is now showing serious interest in stimulating economic growth and forging an effective partnership with the private sector—something the industrial sector has long called for as a foundation for sustainable development. He cited favorable government decisions such as freezing customs duties, providing incentives for several industrial cities, and factory visits by Prime Minister Dr. Jaafar Hassan to learn firsthand about sector challenges—moves that send strong confidence signals to Jordanian industry. Regarding market expansion strategies, Al-Jaghbir said the Chamber has made export diversification and market development its top strategic priority, recognizing the importance of this approach in strengthening the sector's global standing and growth potential, especially amid geopolitical disruptions that have destabilized some traditional markets. Jordan Industry is following a comprehensive strategy focused on opening new export channels. This includes active participation in international trade fairs and specialized events in priority markets, which help introduce global buyers to the diversity and quality of Jordanian products and allow local producers to establish long-term partnerships. He also highlighted the Chamber's efforts in trade networking by organizing trade missions and bilateral meetings in cooperation with chambers of commerce and industry in targeted countries. These initiatives aim to connect Jordanian firms with distributors, importers, and potential partners and create real platforms for export expansion. The Chamber is also investing in specialized market research and analysis, particularly on export realities and global value chains, to help companies identify the most suitable markets for their products based on demand, opportunities, and market access conditions. Jordan Industry has also launched a series of specialized reports to guide industrialists in exploring new markets, including a report titled 'Promising Markets for Jordanian Industry', which outlines countries where Jordanian products have significant untapped potential. The Chamber is preparing to release a second report, 'Regulatory Requirements for Entry into Promising and Non-Traditional Markets,' which analyzes technical and procedural market access requirements, helping industrialists better understand regulatory environments and related variables. A third report will follow, focusing on 'Unconventional Marketing Strategies' to provide innovative tools and digital solutions for breaking into new markets. Al-Jaghbir also emphasized the importance of the Industrial Support and Development Fund, describing it as a realistic and vital step reflecting the government's commitment to enhancing the competitiveness of the industrial sector. In the Fund's first phase, 368 industrial companies reported export increases of over 118 million dinars and total sales growth of 533 million dinars. The initial round, which focused on the food industry, led to a 19% increase in Jordanian employment—creating over 3,200 new jobs, including more than 1,000 for women. It also achieved remarkable progress in energy and water efficiency, with dozens of companies successfully reducing consumption and promoting sustainability—underscoring the sector's move toward innovation and resource optimization. Al-Jaghbir concluded by saying that the industrial sector is inherently capable of transforming any support it receives into real opportunities for growth and development. It is productive, flexible, and capable of using resources effectively to boost productivity and open new markets. These qualities make investment in the industrial sector one of the most impactful forms of economic support in the medium and long term. He added that the second phase of the Industrial Support and Development Fund includes four programs: export promotion through Export House, output-based incentives via the Ministry of Industry, Trade, and Supply, export credit guarantees through the Jordan Loan Guarantee Corporation, and the Industrial Modernization Program by JEDCO. – (Petra – Saif Al-Din Swailha)
Jordan News
17-05-2025
- Business
- Jordan News
25 Jordanian Industrial Companies to Participate in International Construction Exhibition in Damascus - Jordan News
25 Jordanian Industrial Companies to Participate in International Construction Exhibition in Damascus Twenty-five Jordanian industrial companies will participate in the International Construction Exhibition set to be held in the Syrian capital, Damascus, on May 27. The event is organized by the Amman Chamber of Industry. اضافة اعلان Chairman of the Jordan and Amman Chambers of Industry, Eng. Fathi Al-Jaghbir, stated on Saturday that the participating companies represent sectors related to reconstruction—particularly infrastructure, building materials, and energy—alongside engineering industries in which Jordan holds significant competitive capabilities. In a statement, Al-Jaghbir added that an industrial delegation will visit Damascus on the sidelines of the exhibition. The delegation will include representatives from various industrial sectors and will explore opportunities for business partnerships and the establishment of integrated industries. He noted that the visit will also include meetings with several Syrian ministries and institutions involved in bilateral trade, stressing the importance of strengthening economic relations between Jordan and Syria, given their shared interests. Al-Jaghbir emphasized that easing restrictions on the movement of goods and financial transfers would help facilitate the flow of goods and services and enhance the investment environment on both sides of the border. He expressed hope for a return of Jordanian exports to Syria to their historical levels, which once exceeded 181 million Jordanian dinars. He pointed out that Jordan's exports to Syria reached 13 million dinars in the first two months of this year, marking a 40% increase compared to the same period in 2024. He also highlighted Jordan's strategic geographic location, positioning it as a key logistics hub for supplying goods to Syria, Lebanon, and Turkey. This, he said, reinforces Jordan's role as a regional trade corridor and supports the return of Jordanian exports to neighboring markets through Syrian territory. (Petra News Agency)
Jordan News
11-03-2025
- Business
- Jordan News
Jordan's Exports to the Arab Region Rise - Jordan News
Jordan's Exports to the Arab Region Rise Jordan's national exports to the Arab Free Trade Area saw significant growth in the past year, increasing by 15.9% (488 million dinars) to reach 3.564 billion dinars, compared to 3.076 billion dinars in 2023. اضافة اعلان Exports to the Arab Free Trade Area accounted for 42% of Jordan's total exports last year, up from 37% in 2023. Meanwhile, the Kingdom's imports from Arab countries increased by 8.2%, reaching 5.078 billion dinars, compared to 4.693 billion dinars in 2023. Key Drivers of Export Growth The President of the Jordan and Amman Chambers of Industry, Engineer Fathi Al-Jaghbir, stated that the increase in national exports to Arab countries was driven by rising demand in these markets for Jordanian products, which are known for their high competitiveness and quality. He highlighted that Jordan's efforts to expand exports to key neighboring markets, particularly Iraq and Saudi Arabia, played a crucial role in promoting Jordanian products across the Arab world. Exports to Iraq grew by 42.5%, reaching 905 million dinars, while exports to Saudi Arabia increased by 14.3%, totaling 1.1 billion dinars. Sectoral Growth in Exports According to Al-Jaghbir, the key sectors that witnessed export growth included: Engineering industries (cables and wires) Construction materials (building units and prefabricated structures) Food industries (processed foods, tea, and tobacco) Chemical industries, packaging, plastics, and furniture Among the top exported products were fertilizers and cleaning products, while petroleum products, plastics, pearls, and jewelry were among the leading imports to Jordan. Strategic Steps to Enhance Exports Al-Jaghbir emphasized the need for strategic measures to further boost Jordanian exports, including: Enhancing Arab economic integration by fully implementing the Arab Free Trade Agreement, eliminating trade barriers, and simplifying export procedures. Reducing production costs, particularly by supplying industrial zones with natural gas to lower energy expenses and increase competitiveness. Expanding export opportunities by targeting underutilized markets, with potential exports exceeding $2 billion to countries such as: Saudi Arabia: $650 million UAE: $270 million Kuwait: $136 million Qatar: $135 million Egypt: $120 million Call for Stronger Arab Trade Cooperation Al-Jaghbir stressed the urgent need for stronger Arab trade cooperation, noting that intra-Arab trade accounts for only 12% of the region's total foreign trade. He urged Arab countries to: Remove trade restrictions Facilitate labor movement and investments Improve logistics and commercial shipping Jordan's Economic Stability and Export Potential Assistant Secretary-General of the Union of Arab Businessmen, Tareq Hijazi, highlighted that Jordan's free trade agreements and geopolitical stability position it as a gateway for trade and investment in the region. He pointed out that increasing demand for Jordanian products in Arab markets is driven by: Economic growth in some Arab countries Recovery from past economic crises High-quality Jordanian products that meet regional standards Key Recommendations for Sustainable Export Growth Economic expert Dr. Adli Qandah outlined several strategies to sustain Jordan's export growth: Diversify export products by expanding into technology and high-value services Improve quality standards to build consumer trust Upgrade logistics infrastructure (ports, roads, storage facilities) Encourage foreign investment in export-driven industries Leverage e-commerce and digital marketing to access new markets Reduce production costs through government support for energy prices and easier access to financing Enhance customs efficiency to streamline trade with Arab partners Conclusion With the right policies and investments, Jordan has the potential to achieve sustained export growth, strengthen its position in Arab markets, and contribute to broader regional economic integration. (Petra News Agency)
