Latest news with #Gharaibeh
Ammon
6 days ago
- Business
- Ammon
Minister: Jordan offers investors access to economies with combined GDP of $50 trillion
Ammon News - Minister of Investment Mothanna Gharaibeh said Jordan offers investors access to economies with a combined GDP of $50 trillion through various free trade and bilateral agreements spanning multiple continents. According to a statement from the Ministry on Thursday, Gharaibeh made the remarks while attending the economic forum held Wednesday in Singapore under the title "Jordan: Your Gateway to Human Talent, Competitive Costs, Resilience, and Global Markets." The forum was organized in partnership with the Arab Bank and the Jordanian Embassy in Singapore, with participation from global companies, sovereign wealth funds, and leading economic institutions across diverse sectors. Gharaibeh emphasized Jordan's strategic location and robust infrastructure, which provide easy access to neighboring markets. He noted the Kingdom's critical role in supporting global food security, especially through its fertilizer industry, alongside growing sectors such as food processing, pharmaceuticals, apparel, and electronics. He highlighted that Jordan's ICT companies contribute to a 19 percent annual increase in digital jobs, citing Singaporean firms that have chosen Jordan as a hub for regional and global expansion. Gharaibeh pointed out that a feasibility study by IBM's semiconductor division showed Jordan offers the highest profitability among evaluated locations, with a low-risk operating environment compared to key competitors. He reaffirmed the government's steady progress in implementing the Economic Modernization Vision to drive accelerated growth, position Jordan as a regional industrial hub, increase national exports, optimize the use of natural resources, stimulate domestic and foreign investment, and strengthen sustainable practices. Jordan's Ambassador to Singapore, Samer Naber, underlined the essential role diplomatic missions play in promoting investment opportunities, leveraging their networks with local and foreign investors, sovereign and private funds, and venture capital firms. He noted that the forum's collaboration with the Arab Bank exemplifies the public-private partnership model that Jordan is pursuing. During a forum session, Naber discussed Jordan's green energy strategy, alternative energy projects, and the national climate change policy for 2022–2050, along with commitments to reduce carbon emissions and the green bonds framework being finalized under the Central Bank's supervision. He stressed the importance of tapping into Singapore's international partnerships in green energy and attracting Singaporean investments in this sector in the Middle East and Jordan. Arab Bank's CEO, Randa Sadik, affirmed the bank's commitment to supporting national efforts to promote Jordan as an attractive investment destination and strengthen public-private collaboration at home and abroad. She emphasized the strategic role of the banking sector in driving economic growth through comprehensive financing solutions and leading banking services to meet investors' needs, attract capital, and foster sustainable development. The forum aimed to promote Jordan's investment environment and highlight the Kingdom's key advantages, including a skilled workforce, competitive operating costs, strategic location, and flexible market access to regional and international destinations. Panel discussions featured success stories from investments in Jordan, with contributions from Jordan Phosphate Mines Company investor Manish Gupta, who noted that a quarter of India's cultivated food is grown using Jordanian fertilizers. Arab Potash Company Chairman Shehadah Abu Hdaib and CEO Maen Nsour, Aqaba Development Corporation CEO Hussein Safadi (virtually), and Marie Miller, Director of Government Relations and Strategic Partnerships at Bigo Technology, also spoke, sharing how their companies have created thousands of jobs in Jordan's ICT sector. During his visit to Singapore, Gharaibeh will meet with Singapore's Second Minister of Trade and Industry, Tan See Leng, to discuss ways to boost bilateral economic cooperation and promote Jordan as a gateway for Singaporean companies expanding regionally and globally. He will also hold meetings with senior executives from sovereign wealth funds and major corporations, including GIC, Temasek Holdings, the Economic Development Board (EDB), and global firms such as ST Engineering, Accuron Technologies, OUE Limited, and Meinhardt Group. Petra
Jordan Times
04-03-2025
- Business
- Jordan Times
VTC graduates 12,000 vocational trainees last year —director
The VTC seeks to accommodate the "largest" possible number of trainees by providing some specialisations in two morning and evening shifts in 17 institutes (File photo) AMMAN — Director-General of the Vocational Training Corporation (VTC) Ahmad Gharaibeh said that the corporation's mission aims to create job opportunities and employ alumni, regardless of their ages or academic backgrounds. Gharaibeh noted that 2024 was "exceptional" in the VTC's success story, as the number of its graduates exceeded 12,000 trainees, the Jordan News Agency, Petra, reported. He added that this achievement came despite the fact that the capacity of the VTC-affiliated institutes stands at 8,000 trainees. The VTC seeks to accommodate the "largest" possible number of trainees by providing some specialisations in two morning and evening shifts in 17 institutes, Gharaibeh said. The director-general noted that the number of trainees currently enrolled in the VTC's training activities is 9,500 people in vocational training programmes and 1,500 others in vocational education activities. Referring to last year's VTC expansion, he said that the current number of institutes now reach 30 across the Kingdom. Gharaibeh said that 62 per cent of the VTC's graduates obtained job opportunities and have social security subscriptions, 53 per cent of whom work in their specialisations and 9 per cent joined other fields. He said that 19 per cent of graduates work in the informal economy, indicating that some 80 per cent of the VTC's graduates have sources of income. Gharaibeh stressed that the VTC works in line with the strategic axis in the Economic Modernisation Vision, which includes six priorities for the vocational and technical training and education sector.
