Invest In Jordan

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Information about Invest In Jordan

Published on October 16, 2008

Author: iidelby


Slide 1: Invest in Jordan Jordan: Key Facts : Jordan: Key Facts Area: 92.3 sq. km Population: 5.6 million (2006) Population growth: 2.3% (2006) GDP: $17.34 billion (2008 est.) GDP per capita: $2,967 (2008 est.) GDP growth: 6% (2008 est.) Exports: $5.21 billion (2006) Currency (fixed to USD): US$1=JD$0.708 Official language: Arabic (English second) Capital city: Amman Economic Overview : Economic Overview Average life expectancy: 71.7 years (2006) Labour force: 1.6 million (2006) Inflation: 5.4% (2007) Unemployment: 13.5% (2007) Key industries by output: petroleum products, food & beverages, telecom, chemicals & pharmaceuticals, transport, financial services, mining and mineral products (2004) Employment by sector: Education, food & beverages, tourism, health, textiles, mineral products, chemicals and metals (2004) Leading trade partners: US, Iraq, India, Saudi Arabia, Germany, China, Egypt (2006) No. of banks: 23 (2006) Critical Investment Drivers : Critical Investment Drivers Long-term economic and political stability Dynamic economic environment Strategic geographical location Access to international markets Educated and experienced workforce Very competitive costs High quality infrastructure Supportive attitude of the government A Stable Economic Environment : A Stable Economic Environment The Jordanian government has focused on reforms and investment policy aimed at: Liberalization of trade, investment procedures, and elimination of trade barriers Encouragement of foreign investment Encouragement of private sector investment Privatization of previously-owned governmental projects Implementation of stronger trademark and copyright laws Reduction of import tariffs Macroeconomic Stability : Macroeconomic Stability Rigorous reform has had remarkable results: A Testimony to Security in Jordan : A Testimony to Security in Jordan According to the Global Competitiveness Report 2007-2008, issued by the World Economic Forum, Jordan ranks as follows: Prevention of Organized Crime: (9) out of (131) countries. Business costs of crime and violence (13) out of (131) countries. Reliability of Police Services: (14) out of (131) countries. Strategic Location : Strategic Location Strategically situated on land bridge between Europe, Africa and Asia Jordan serves as a focal point for trade and investment within MENA Comprised of 325 million consumers, 6% of world population Growth rate: 3% (vs. 0.8% in EU) Consumer market is projected to double in size in approximately 18 years Approximately 60 million square kilometers territorial area is almost equal to the EU and 1.5 times larger than the U.S. and China International Gateway : International Gateway Member of WTO. Jordan-US Free Trade Agreement (FTA). Qualifying Industrial Zone (QIZ) Agreement. Greater Arab Free Trade Agreement. Euro-Jordanian Association Agreement. Aghadir Agreement. Jordan-EFTA FTA. Jordan-Singapore FTA. Access To One Billion Consumers… Customs Free and Quota Free Human Resources : Human Resources People are our greatest asset Well educated population. Over 91% literacy rate. 20% of population have a degree or third level qualification 192,000 students currently enrolled in universities. 24 universities (14 private, 10 public). 60 community colleges. 35 vocational training centers training over 10,000 people each year. Competitive wage structure. Jordan provides the Middle East with its most highly skilled workers, particularly in the professional and services sectors Infrastructure : Infrastructure 3 Qualified Industrial Zones – duty-free and quota free access to the US market Aqaba Special Economic Zone – liberalized, low tax, duty-free development area 5 public industrial estates, and 6 private industrial estates. 5 public free zones and 23 private free zones 3 airports and 1 port (Aqaba) Road network: 8,000 km of modern highway system Internet users per 1,000: 136.5 (2006) Mobile telephone subscribers per 1,000: 744 (2006) Jordan Quality of Living : Jordan Quality of Living Excellent education facilities for all ages; 21 universities and accredited international schools including American, British, and French Availability of modern goods and services Affordable housing (1-3 BR furnished apartments): $300-700 USD per month Very low crime rate; Jordan is a noticeably clean country Good transportation system; easy access to all areas of country Major tourist attractions: Petra, Wadi Rum, Dead Sea, Jerash Serviced by major hotels: Marriott, Inter-Continental, Le Meridian, Sheraton, Radisson, Four Seasons, Hyatt Range of social opportunities: sports (horse riding, scuba diving, swimming, etc.); social clubs; restaurants, coffee shops and small cafes for day/evening outings Many cultural activities: plays, cinemas, concerts and folklore English language television; satellite and cable television Strong telecom infrastructure: Internet, DSL, and cellular Ave. summer temp 95F (35C); ave. winter temp is 50 F (10C) Jordan Investment Incentive : Jordan Investment Incentive Incentives Projects exempted from income & social services taxes by 25%, 50%, or 75% for 10 years, depending on the location and sector of project Imported fixed assets are exempted from customs duties/taxes Additional exemption from customs duties and income tax is granted for the expansion, modernization, or development of existing projects Ease of licensing and registration procedures Free repatriation of capital, profits and salaries Local funding/capital available Local financing is available through the banking system and through various investment funds Track Record in Foreign Investment Attraction : Track Record in Foreign Investment Attraction International Reports : International Reports Ranked 8 out of 141 countries in 2007 according to FDI Performance Index (UNCTAD) A frontrunner in Inward FDI Performance and Potential since 1999 (UNCTAD) Ranked 5 among 17 Arab Countries in 2008 in the Ease of Doing Business (World Bank) Ranked 9 in the Globalization Index and 10 in FDI/GDP out of 72 countries (Foreign Policy Magazine/A. T. Kearney) Useful links : Useful links Amman Chamber of Industry Amman World Trade Center Aqaba Special Economic Zone Central Bank of Jordan Department of Statistics Federation of Jordanian Chambers of Commerce Government Tenders Directorate Industrial Development Bank Jordaniam Business &Resources Jordan Business Directory Jordan Businessmen Association Jordan Customs Department Jordan Export Development Jordan Exporters Association Jordan Industrial Estates Corporation Jordan Investment Board Jordan Loan Guarantee Corporation Jordan Securities Commission Jordan Trade Association Ministry of Industry and Trade Sales Tax Department Securities Depository Center Sustainable Development Network The Free Zones Corporation

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