JIEC announces new investment in pharmaceutical industries

AMMAN — The Jordan Industrial Estates Company (JIEC) on Saturday announced that a new investment in the field of pharmaceutical industries has been attracted by Al Salt Industrial Estate.

The new venture is expected to provide 150 jobs in its first phase, according to the Jordan News Agency, Petra.

Owned by Savvy Pharma, the new pharmaceutical business will produce medication for COVID-19, diabetes and cholesterol and respiratory diseases among other drugs in demand in the MENA region, according to Petra.

The new investment is the second to be launched in Al Salt Industrial Estate within a week, and the 17th since 2019.

JIEC CEO Omar Jwaid, who signed the agreement, said that investments in the JIEC has reached JD91.3 million in 2020, representing a 6 per cent increase in comparison with 2019. He added that despite challenges imposed by the pandemic, a total of 107 agreements were signed, including new investments as well as expansions of existing businesses, predicted to provide some 1,422 jobs.