Latest news with #JOD
Jordan News
20 hours ago
- Business
- Jordan News
Jordan's Central Bank Governor Projects Over 4% Medium-Term Economic Growth - Jordan News
Governor of the Central Bank of Jordan, Dr. Adel Al-Sharkas, affirmed that the national economy continues to grow steadily despite regional geopolitical challenges, thanks to a comprehensive economic modernization vision that redefined Jordan's approach to reform. اضافة اعلان Speaking during a policy dialogue organized by the Jordan Strategy Forum titled "Reform, Stability, Resilience: The Economic Trinity in a Changing World", Al-Sharkas emphasized the transition from reactive, short-term policy approaches to a proactive and integrated strategy aimed at enhancing economic resilience and sustainability. Key Highlights: Growth Outlook: The Central Bank estimates real GDP growth at 2.7% for 2025, with projections exceeding 4% by 2028, driven by large-scale infrastructure projects tied to the Economic Modernization Vision. Macroeconomic Resilience: Jordan's economy is backed by a robust monetary and fiscal framework, institutional strength, and a sound banking sector. These fundamentals have garnered growing international investor confidence, reflected in the declining yields of Jordan's Eurobonds in secondary markets. Growth Performance (2021–2024): The average growth rate stood at 2.9%, the highest since 2010, attributed to improvements in productivity, technological adoption, and human capital development. Investment contributed 40% to this growth, while the external sector accounted for 38%. Export & Energy Performance: National exports reached new markets, with non-traditional exports contributing 20.9% of GDP in 2024, up from 16.2% in 2016. Meanwhile, energy import costs dropped to 7% of GDP, down from a third in 2012, due to diversified energy sources and long-term gas agreements. Tourism and FDI: Despite a slight dip in June due to regional tensions, tourism revenues rose 11.9% in H1 2025, reaching $3.7 billion, with expectations to hit $7.7 billion by year's end. FDI inflows amounted to $1.6 billion (3.1% of GDP) in 2024, and remittances from Jordanians abroad rose to $3.6 billion, projected to reach $3.7 billion in 2025. Monetary Stability: Inflation was kept around 2% in H1 2025. The Jordanian dinar remains strong, supported by $22 billion in foreign reserves, covering 8.4 months of imports. The banking sector continues to expand credit facilities, with loans rising to JOD 35.3 billion in May 2025 and total deposits hitting JOD 47.7 billion. Financial Inclusion & Digital Payments: The Central Bank increased financial inclusion to 43.1% by 2022 and aims for 65% by 2028, while closing the gender gap from 53% to 22%. Digital transactions grew significantly, with over 537 million transactions totaling JOD 55.3 billion in 2024—equivalent to 146% of GDP. Fiscal Outlook: The government aims to reduce the primary deficit to 2% of GDP by 2025, targeting a primary surplus by 2027. The public debt-to-GDP ratio is expected to fall below 80% by 2028. Forward-Looking Plans: Preparations are underway for the 2026–2029 Executive Program of the Economic Modernization Vision, with new initiatives focusing on digitization, fintech, innovation, and expanded financial inclusion. Sectoral Collaboration & Private Dialogue Jordan Strategy Forum Chair Sharif Fares Sharaf emphasized the need for resilient policies amid global instability, while Executive Director Nisreen Barakat reaffirmed the Forum's role in facilitating evidence-based policy discussions. The session also featured input from Nadia Al-Saeed, who stressed the importance of regulatory clarity and effective banking oversight. Topics discussed included virtual asset legislation, SME support, and public-private partnerships in navigating economic uncertainties. Governor Al-Sharkas concluded with a direct Q&A session, addressing key economic concerns raised by forum participants and reaffirming the Central Bank's commitment to sustainable and inclusive growth.
Ammon
6 days ago
- Business
- Ammon
ASE closes higher by 0.52 percent
Ammon News - The Amman Stock Exchange (ASE) concluded Wednesday's trading session with a 0.52 percent rise, closing at 2,898 points. The volume of traded shares stood at approximately 5.4 million, with a total trading value of around JOD 9.2 million executed through 3,732 transactions. Out of the companies whose shares were traded, 37 recorded gains, 28 saw declines, and 36 remained unchanged. Petra
Saraha News
7 days ago
- Business
- Saraha News
With JOD 10,000 in Cash Support and One Year of Logistical Assistance
صراحة نيوز- ZINC Welcomes OrganicG Startup to its Business Accelerator Program Amman, July 22nd 2025 – Zain Jordan, through its innovation campus (ZINC), has signed an agreement with the Jordanian startup 'OrganicG', one of the companies recently selected for 'Zain AlMubadara' — one of ZINC's largest programs dedicated to supporting entrepreneurs, Jordanian startups, and innovative ideas. The agreement was signed at ZINC's main branch located in the King Hussein Business Park. The agreement was signed by Zain Jordan CEO, Fahad AlJasim, and OrganicG General Manager, Mousa Samara. The signing reaffirms Zain's commitment, through ZINC, to empowering Jordanian youth and startups, providing them with the tools to enter the market, grow their businesses, and scale their operations. Zain believes in the importance of entrepreneurship in fueling the national economy, creating new job opportunities, and making a positive impact on society. Zain's support is divided into JOD 10,000 in direct financial assistance and one year of logistical support. This includes accounting services, legal services, technical consulting, brand identity services, media and promotion across social media platforms, marketing services, and market access facilitation. OrganicG produces sustainable, high-efficiency organic fertilizers at affordable prices. The company fully relies on waste materials as raw input, using a cost-effective, optimized production process. OrganicG's mission is to make organic fertilizer the first choice for farmers, moving toward a world with safer and more productive crops. It is worth noting that ZINC is committed to launching 'Zain AlMubadara' program annually to support new groups of Jordanian youth and entrepreneurs. This aligns with Zain's ongoing efforts to strengthen the entrepreneurship ecosystem in Jordan. Over the years, the program has received thousands of ideas, transformed hundreds of them into actual companies, and contributed to the local market with new startups in emerging sectors aligned with current development and market needs. To date, 253 Jordanian startups across various sectors have received support from the platform, helping to grow entrepreneurial projects that have made a clear impact in the local market through job creation and contributions to the national economy. ZINC provides startups and entrepreneurial ideas selected for the program with grants totaling JOD 75,000: JOD 10,000 for each startup and JOD 15,000 for each entrepreneurial idea. This enables participants to build business models for their concepts after validating their feasibility and market fit. The support also includes one year of full logistical assistance from the platform.
Jordan News
21-07-2025
- Business
- Jordan News
Ministry of Agriculture: Collection of Local Wheat and Barley Crops Begins - Jordan News
The Secretary-General of the Ministry of Agriculture, Eng. Mohammad Al-Hayari, announced that the Cabinet's decision to begin purchasing local wheat and barley from the 2024/2025 agricultural season reaffirms the state's commitment to supporting the agricultural sector. اضافة اعلان In a press statement, Al-Hayari stated that specialized committees under the Central Committee for Local Grain Procurement began receiving wheat and barley in various regions of the Kingdom as of last Friday, and the process will continue until the 7th of next month. The expected quantity of wheat and barley to be received is estimated at 36,000 tons, with around 424 certificates of origin anticipated to be issued to farmers through a dedicated electronic platform—part of a broader plan to streamline procedures and accelerate the digital transformation process. He noted that the committees supervising the receiving and inspection processes include representatives from the Ministries of Agriculture, Industry and Trade, Finance, the Audit Bureau, the Cooperative Corporation, and the National Agricultural Research Center. These teams are tasked with purchasing, inspecting, verifying certificates, and field-checking the authenticity of the crop production. Al-Hayari emphasized the importance of farmers adhering to the approved production certificates and the allocated quantities based on cultivated land areas, as documented by field inspection reports. A tolerance margin of up to 15% over the approved quantity is permitted. Farmers in northern Jordan are delivering their grains to Irbid silos, while those in the central region are using the Juwaideh silos in Amman, and a collection center in Al-Rabba, Karak, has been designated for southern farmers. The government treasury will cover the cost of transporting grains from Karak to Juwaideh. These efforts, Al-Hayari explained, fall within an integrated government approach to support local production, enhance national food security, and encourage farmers to expand the cultivation of strategic crops. The aim is to stabilize the market and secure fair returns for Jordanian producers. The Cabinet set the procurement price at 420 JOD per ton of wheat and 370 JOD per ton of barley. The government will also cover 75 JOD per ton for sifting and sterilization costs, while the Cooperative Corporation will cover 25 JOD per ton for sifting residues and seed packaging. Additionally, the Cabinet approved a 50 JOD per ton discount on the sale of wheat and barley seeds to farmers for the 2025/2026 season, with wheat seed sold at 450 JOD per ton (down from a purchase price of 500 JOD) and barley seed at 370 JOD per ton (down from 420 JOD).
Roya News
02-07-2025
- Business
- Roya News
Jordan approves changes to grant investors citizenship, residency
The Jordanian government on Wednesday approved new regulations to grant Jordanian citizenship or residency to investors, based on recommendations from the special committee for investors. The decision, made during a cabinet session chaired by Prime Minister Jaafar Hassan, aims to stimulate investment and economic activity in the kingdom. New Citizenship Regulations for Investors The new regulations outline several avenues for investors to obtain Jordanian citizenship: Stock Market Investment Investors can gain citizenship by purchasing at least 1 million Jordanian dinars (JOD) in new shares of Jordanian companies. These shares must be held for three years and cannot be encumbered, loaned, or borrowed. The purchase must occur within four months of the Investment Ministry's approval, with no more than 20% of the total investment concentrated in a single company's shares. New Investment Projects Citizenship is granted for establishing new investment projects in productive economic sectors. The paid-up capital must be at least 700,000 JOD within the capital governorate or 500,000 JOD outside it. These projects must create 20 jobs for Jordanians within the capital or 10 jobs outside, verifiable through Social Security Corporation records. Investors meeting these criteria will initially receive a temporary Jordanian passport for three years, with full citizenship recommended after sustained compliance. Acquiring Shares in Existing Projects Investors can secure citizenship by purchasing new shares in existing productive economic projects with a paid-up capital of at least 1 million JOD. The project's new fixed assets must be at least 500,000 JOD. The investment requires a feasibility study, audited financial statements, and must create 20 new jobs for Jordanians (or as specified by Cabinet decision based on investment type). These new shares must be held for three years. Like new projects, a temporary passport is issued for three years, followed by a citizenship recommendation upon compliance. Existing Investments For investors with existing projects, citizenship may be granted if their average share of the total fixed and tangible non-current assets (calculated from audited annual statements over the past three years) is at least 700,000 JOD within the capital, maintaining 90% of the required 20 Jordanian jobs per month for three years. Outside the capital, the average share must be at least 350,000 JOD, maintaining 90% of the required 10 Jordanian jobs per month for three years. Sector-Specific Investments Citizenship is also available to investors in pharmaceutical, medical device, food logistics, storage, and large warehouse sectors. Companies must have an investment of at least 3 million JOD and employ at least 20 Jordanian workers in the capital (or 10 outside) registered with the Social Security Corporation for the last three years, specifically in pharmacist roles. High Employment Generation Investors who employ 150 Jordanian workers in the capital or 100 in other governorates, registered with the Social Security Corporation for at least one year and maintained for two consecutive years after obtaining citizenship, are eligible. Family Inclusion The investor's spouse, unmarried, widowed, or divorced daughters living under their care, and unmarried sons under 24 years old at the time of application are eligible. For investments exceeding 2 million JOD, male children under 30 years old, their spouses, and children are also eligible. Five-Year Residency Through Real Estate Investors or individuals can obtain or renew a five-year residency by purchasing real estate from a developer valued at no less than 200,000 JOD, as appraised by the Department of Lands and Survey. The property must be retained for at least five years without disposal or encumbrance. Residency is issued upon recommendation from the special committee for investors by the Ministry of Interior. Renewal requires continued ownership of the same property or a new property of equivalent value. Conditions and Limitations Jordanian citizenship will not be granted to investors who acquire shares from another investor who previously obtained citizenship based on those same shares. These regulations will apply to a maximum of 500 investors annually, subject to security checks and financial solvency verification. In the event of non-compliance with any conditions, Jordanian citizenship will be withdrawn, or residency canceled. These regulations will undergo review and evaluation every six months.
