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  • 11-04-23

    Jordan's Development Zones Attract Nearly USD690 Million in Investments

    (MENAFN) Jordan's King Hussein Bin Talal Development Zone (KHBTDZ) and Irbid Development Zone (IDZ) have collectively attracted around 490 million Jordanian dinars ($690 million) in investments, according to Ezzedine Kanakriya, the head of Jordan's Social Security Investment Fund. Kanakriya highlighted the strategic location and competitive infrastructure of the two zones, as well as their targeted sectors, as key factors contributing to their success in creating an attractive business environment for investors.

    During his visit, Kanakriya emphasized that the KHBTDZ and IDZ have provided 3,600 quality job opportunities for Jordanian entrepreneurs across various sectors. Awwad Hijazi, the chairman of the board of directors of the Daman Co. for the Development of Development Zones, noted that the IDZ has drawn investments in the information technology and software sectors, attracting call centers, entrepreneurship incubators, and a technical college for vocational training. The IDZ has attracted Jordanian and Arab investments worth 40 million Jordanian dinars and provided more than 2,300 job opportunities for locals.

    The KHBTDZ has also attracted multiple industrial investments, as well as several solar energy projects with a total investment value of about 450 million Jordanian dinars, providing 1,300 jobs to locals, according to Salem Al-Khazaleh, the chairman of the board of directors of the Mafraq Development Co. Al-Khazaleh added that there are currently 54 factories in the region, including those under construction and design, owned by Jordanian, Arab, and foreign investors.

    The development authority in Jordan plans to establish an integrated logistics services center in Mafraq and a land port to transport goods to neighboring countries. It also intends to convert King Hussein Air Base into a commercial airport. The parties also reviewed the plans being implemented to attract new entrepreneurial investments for the Irbid development region to contribute to strengthening the Kingdom's distinctive regional position in entrepreneurship and innovation.

    The success of Jordan's development zones in attracting significant investments highlights the country's potential in creating an attractive business environment for investors. The government's efforts to establish an integrated logistics services center and a commercial airport demonstrate its commitment to improving the country's infrastructure and further boosting its economic growth. These developments are expected to attract more investments and create more jobs, benefiting both the local economy and the country as a whole.

    MENAFN11042023000045014228ID1105978193

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