What's Happening?
Jordan's industrial sector is strengthening its position within the national economy through production, employment, and investment influence. The sector has led growth on the Amman Stock Exchange, accounting for 40% of the total market capitalization
of listed companies. Strategic projects, such as supplying natural gas to industrial cities, aim to reduce production costs and enhance competitiveness. The Industrial Support Fund has provided significant financing to expand production capacity and create jobs.
Why It's Important?
The growth of Jordan's industrial sector is crucial for the country's economic modernization and development. By reducing energy costs and enhancing competitiveness, the sector can attract more local and foreign investment, contributing to economic stability and growth. The focus on technological progress and expansion into international markets aligns with Jordan's Economic Modernization Vision, which aims to reduce reliance on imported energy and promote sustainable development.
What's Next?
Jordan's industrial sector is expected to continue its expansion and modernization efforts, with plans to cover all industrial zones with natural gas supply within the next three years. The sector's focus on technological advancement and international market expansion will likely drive further growth and investment. The government may consider converting the Industrial Support Fund into a specialized development bank to support industry and exports.
Beyond the Headlines
The transformation of Jordan's industrial sector highlights the potential for a knowledge-based, innovation-driven economy. The sector's growth contributes to social equity and economic reform, positioning it as a vital link in Jordan's modernization journey. Continued progress in smart manufacturing and clean energy can make the industrial sector a national success story, embodying the spirit and ambitions of Jordan's Economic Modernization Vision.
