President of the Jordan and Amman Chambers of Industry Fathi Jaghbir said Saturday that industry remains a top economic sector for local and foreign investments as it enjoys the confidence for business.
Jaghbir told Petra in an interview that the industrial sector, capitalizing on new investment legislation, posted about JD565 million in the first three quarters of the year, about 64 percent of the total investments of various economic sectors.
The volume of total businesses benefiting from the Investment Environment Law soared to about JD879 million, or 34 percent, from the beginning of the year until the end of September, compared to JD657 million in the same period last year, he said.
These figures are a reaffirmation that the industrial sector has the leverage and incentives to attract capital as a result of concerted efforts made over the past period, he pointed out.
The industrial positive indicators, Jaghbir said, underline the sector’s leadership as it accounted for about one third of growth in 2
022 and is a strategic sector leading growth and development in the Kingdom.
“This also underscores that the industrial sector possesses many potentials and components, placing it in a pole position at the level of investment in various Arab countries, with a huge and diverse production base among many other industries,” he said.
Jaghbir has earlier announced new $850 million investments in the industry sector that have already been established or are in their final stages, which will generate 3,650 new job opportunities, and exports are expected to reach about $1.2 billion.
Source: Jordan News Agency