Projects worth JD288.46 mln leveraged investment law in Q1 of 2023

Projects worth JD288.46 million have leveraged the Investment Law in the first quarter of 2023, signaling an increase of 49.1 percent from the JD193.5 million in the same period of 2022, according to the Ministry of Investment. In a statement on Wednesday, the ministry pointed out that a total of 91 investment projects, which were expected to create about 3,000 job opportunities, have registered with the ministry to benefit from the law, with the industry sector taking the lion’s share of overall investments with JD165.6 million, or 57 percent, followed by the services sector with JD100 million, or 35 percent, the tourism sector with JD17.5 million, or 6 percent. Additionally, the other sectors, including hospitals, medical centers, information technology, and research and development accounted for 2 percent of the total investments. On the distribution of investments outside and within the development zones during the first quarter of this year, the ministry said that 72 projects were implemented outside development zones with an investment volume of about JD269.46 million, or 93.4 percent of the overall investments, while 19 projects were carried out inside development zones with an investment volume of about JD19 million, or 6.6 percent of the overall investments. The ministry said the increase in investments indicated that Jordan has an investment-friendly environment that encourages the business community to expand investment and production activities, in addition to enhancing the investor’s trust in the investment environment in the Kingdom.

Source: Jordan News Agency