Latest news with #MothannaGharaibeh
Zawya
11-07-2025
- Business
- Zawya
Jordan's minister promotes investment opportunities in Jordan at Singapore economic forum
AMMAN — Jordan offers investors access to markets worth a combined $50 trillion through a network of free trade and bilateral agreements spanning multiple continents, Minister of Investment Mothanna Gharaibeh said on Wednesday. Speaking at the 'Jordan: Your Gateway to Human Capital, Competitive Advantage and Global Markets' economic forum held in Singapore, Gharaibeh highlighted the Kingdom's strategic location and advanced infrastructure as key enablers for accessing regional and international markets. The forum was organised in partnership with Arab Bank Group and the Jordanian Embassy in Singapore, and attended by leading Singaporean and international companies, sovereign wealth funds, and major economic institutions, the Jordan News Agency, Petra, reported. Gharaibeh stressed that Jordan plays a critical role in international food security, particularly through its fertiliser production sector, in addition to a range of expanding industries such as food processing, pharmaceuticals, apparel and electronics. He also pointed to the rapid growth of Jordan's ICT sector, where digital job opportunities are increasing by an annual rate of 19 per cent, citing examples of Singaporean companies that have chosen Jordan as a base for regional and international expansion. Referencing a feasibility study conducted by IBM on semiconductor investment, Gharaibeh noted that Jordan ranked highest in profitability among all assessed locations and offered a low-risk operational environment compared to major competitors. He also reiterated the government's commitment to implementing the Economic Modernisation Vision, which aims to position Jordan as a regional industrial hub, boost exports, optimise natural resource use, attract domestic and foreign investment, and advance sustainable economic practices. Jordan's Ambassador to Singapore Samer Naber underscored the strategic role of diplomatic missions in promoting investment by leveraging networks with local and foreign investors, sovereign and private funds, venture capital firms and public entities in host countries. Naber said the forum was the result of close cooperation between the embassy and Arab Bank, reflecting a strong public-private sector partnership model that Jordan is keen to advance. He also outlined Jordan's green energy strategy during a panel session, focusing on renewable energy projects, the 2022–2050 National Climate Change Policy, carbon emissions reduction commitments, and green bond frameworks currently being finalised by the Central Bank of Jordan to enhance green finance mechanisms. Naber called for greater cooperation with Singapore in the green energy sector and highlighted the potential for increased investment from Singaporean companies active in the Middle East and Jordan. Speaking at the forum, Arab Bank CEO Randa Sadik reaffirmed the bank's support for national efforts to position Jordan as an attractive investment destination, while also enhancing cooperation between the public and private sectors, both locally and internationally. Sadik emphasised the strategic role of the banking sector in supporting economic growth through a comprehensive suite of financial services tailored to investor needs. These efforts, she said, are vital to attracting investment and building partnerships that promote sustainable development. The forum aimed to showcase Jordan's investment environment and highlight its key advantages, including a highly skilled workforce, competitive operating costs, strategic geographic position, and ease of access to regional and global markets. Panel discussions throughout the forum featured success stories from companies investing in Jordan. Speakers included Arab Potash Company Chairman Shahaadeh Abu Hdaib and General Manager Ma'en Nsour, CEO of the Aqaba Development Corporation Hussein Safadi (via video call), and Manish Gupta, representative of IFFCO and investor in the Jordan Phosphate Mines Company. Gupta noted that approximately 25 per cent of the food produced in India relies on fertilisers imported from Jordan. Director of Government Relations and Strategic Partnerships at Bigo Technology Mary Miller shared the company's experience in Jordan, noting that it now employs around 1,000 Jordanians in the IT sector. During his visit to Singapore, Gharaibeh is scheduled to meet with Minister of Trade and Industry Tan See Leng to explore ways to deepen bilateral economic cooperation and facilitate Singaporean investments in Jordan as a launchpad for regional and global expansion. He will also hold bilateral meetings with senior executives from top global firms and investment entities, including Singapore's sovereign wealth funds GIC and Temasek Holdings, the Economic Development Board (EDB), and major companies such as ST Engineering, Accuron Technologies, OUE Limited and global consultancy Meinhardt. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Ammon
10-07-2025
- 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
The National
08-07-2025
- Business
- The National
Jordan offers investors more pathways to citizenship after rules revamp
Jordan 's move to revamp its Citizenship By Investment programme has opened up more pathways for foreign investors to obtain a passport, but it is unlikely to make an economic impact in the short term, analysts say. Amman will grant Jordanian nationality to foreign investors through additional routes including pouring capital in local companies' shares, establishing new projects in important sectors or purchasing equity in existing projects, according to Petra news agency. The Cabinet last week approved an updated framework for granting citizenship and residency to investors that is aimed at attracting more foreign capital, creating new jobs and contributing to the Jordanian economy. 'While we appreciate the Jordanian government's efforts to develop the private sector, we believe the new citizenship policy will have limited economic impact in the near term,' Tianchen Peng, economist at Oxford Economics, told The National. 'The investment thresholds across all three routes – along with additional requirements like maintaining high employment levels – are prohibitively high.' Jordan has granted citizenship to 561 investors since 2018, with Syrian and Iraqi investors topping the list, according to Jordan's investment minister Mothanna Gharaibeh. However, Mr Peng said combined with Jordan's existing social welfare system and escalating tension in the region, 'the policy may lack sufficient appeal to attract eligible investors, particularly those based outside the region'. Jordan's economy is projected to expand by 2.6 per cent this year before accelerating further to 2.9 per cent in 2026, according to the International Monetary Fund's recently published Regional Economic Outlook. Both projections were lower than previous forecasts, mirroring a broader downwards trend because of US tariffs uncertainty. The Washington-based fund last month approved about $700 million to Jordan to address its long-term vulnerabilities in the water and electricity sectors and address public health emergencies. The Jordanian passport has relatively better strength in the Middle East compared to various countries in the region, according to the Henley Passport Index. It ranks 88th on the latest index, with visa-free access to 51 countries, according to the Henley Passport Index 2025 Global Ranking. By contrast, Syria ranks 102nd, Iraq 101st, Yemen 100th and Libya in the 99th position. The UAE is 8th and Saudi Arabia is 59th. This is out of a ranking of 103, where some countries are in tie positions. With stricter immigration rules in some protectionist economies, investors are casting a wider net for citizenship opportunities. Pathways to citizenship Under the revised criteria, Jordan will grant citizenship to foreign investors who inject at least one million Jordanian Dinars ($1.4 million) in new capital by buying shares in Jordanian companies. A maximum of 20 per cent of the investment can be concentrated in a single company, and the investor must retain the shares and any related proceeds for three years, according to Petra. Citizenship can also be granted to investors who set up new projects in vital sectors with a paid-in capital of at least 700,000 dinars in Amman or 500,000 dinars outside the capital, provided the projects create 20 jobs for Jordanians in the capital or 10 jobs outside it. Another route is purchasing equity in existing projects with a capital injection of at least one million dinars and new fixed assets worth at least 500,000 dinars. Investors must submit a feasibility study and audited financial reports, create 20 new jobs and hold the new shares for three years to qualify. Existing investors may qualify if their average equity share in fixed assets over the past three years totals at least 700,000 dinars in Amman or 350,000 dinars outside the capital. First-degree family members of the investor, who are inheriting or receiving shares, may also qualify for citizenship. This is provided the original investor's stake remains unchanged for three years. Citizenship can also be granted to investors in the pharmaceutical warehousing, medical equipment and large-scale food logistics sectors, with minimum capital of 3 million dinars and 20 Jordanian pharmacists employed in Amman or 10 outside the capital over three years. Another route is employing 150 Jordanians in Amman or 100 in other governorates for at least one year before application, with employment levels sustained for two consecutive years after receiving citizenship, Petra said. A cap of 500 investors per year will be applied, subject to security clearance and financial due diligence, the state news agency said.
