Investment volume grew by 26.4% in 2020 — JIC

AMMAN — The investment volume for projects benefiting from the Jordan Investment Commission (JIC) Law in 2020 increased by 26.4 per cent compared with 2019, to 376 schemes that are expected to generate some 24,000 jobs, the JIC announced on Sunday.

JIC Acting Chairman Faridoun Hartouqa said that the volume of these new projects totalled JD618.4 million compared with JD498.1 million in 2019, according to a commission statement.

As for the distribution of these ventures on various sectors, Hartouqa noted that the industrial sector accounted for the biggest share with 65.3 per cent with an investment volume of JD404.14 million, followed by hospitals and medical centres with JD111.97 million at rate of 18.1 per cent.

New investments in the agricultural sector totalled JD43.13 million with 7 per cent, the ICT sector reached JD32.24 million with 5.2 per cent, tourism with JD25.63 million with 4.1 per cent and art production investment totalled JD1.32 million accounting for 0.2 per cent, the JIC chairman added.

Local investments in 2020 constituted 91.67 per cent with a total value of JD566.87 million, while foreign investments accounted for 8.33 per cent with a value of JD51.54 million, he noted.

 Hartouqa added that the increase of total investments benefiting from the JIC Law in 2020 reflects investors' confidence in the Kingdom's investment environment.

The chairman also stressed that the commission seeks to further increase the investment volume in 2021 through a plan that promotes investments in priority sectors with added value, facilitates procedures and provides information necessary for investors to start businesses in Jordan.