Jordan’s new dawn after the London conference

Jordan can finally say goodbye to the overwhelming problems that bedevilled it, because hope has been restored to a country that was once hit by the global financial crisis. So, what is next for Jordan after receiving support from the international community to help it achieve its objective of economic prosperity in the region? The country will foster the creation of job opportunities for the educated youth, provide a conducive environment for investment and the resulting economic growth will help in building a resilient country and region that has been, for a long period, a recipient of humanitarian aid due to the refugee challenges it faces. The London conference managed to attract international trade and stakeholders to invest their businesses in Jordan. Indeed, these are the benefits that come with being friends with the UK.

Speaking at the London initiative, His Majesty King Abdullah declared that improving Jordan’s growth creates job opportunities and better lives for its people. He commended Jordan for playing vital roles of being a haven for refugees from Syria and championing development in the Middle East. He added that the country should continue being a role model for other countries in terms of having a capable workforce of talented youth. Apart from linking continents and various markets, Jordan has a reputable trade relation. The King placed an emphasis on economic strategies aligned to improving Jordanians’ standard of living by ensuring the pay is commensurate. The country should also shift to green energy in the use of solar and wind. This reduces energy expenditure, while boosting economic activities. Jordan is now proactive, by allowing probability and sustainability as opposed to being reactive to events when they happen. The country is moving towards an era of powerful industrial innovations that will make Jordan a benchmark to world economies.

The government was tasked with a mandate to transform its economy on an international dais, by driving investment, trade and jobs. The country has capable sectors that will ensure trade flows to major export markets in the world: Settlements and investment will improve, following the economic boost by the UK government, and the UK’s generous underwrite of a $250 million World Bank loan to help the struggling economy that is currently spending 94 per cent of its GDP on debt refunds. Its public debt will not only reduce but also assist in stabilising its economy by allowing it to grow. The Jordanian delegation is mainly hopeful to attract investment for its tourism, information technology, logistics and professional services sectors. Thus, future foreign investment in Jordan is guaranteed because of a favourable business environment.

The country will also conduct economic restructuring to improve exports and foreign direct investment, inspire diversified business and innovation, generate jobs and enhance the business environment, thus, sustainable economic growth. The government plans to engage more women in the workforce, expanding women’s participation that is essential for Jordan’s economic growth. The partners, such as the UK-led drive, will help the country bring reforms to create jobs, increase productivity and assist in access to low-interest loans. British devotion is anticipated to include reinforcing small enterprises and encouraging banks to lend more loans to Jordanian entrepreneurs. Jordan has a youthful, educated and extremely motivated workforce, which is its utmost resource. Even though the UK will support to advance education standards and develop policy on the use of technology in schools, susceptible children, including Syrian refugees, will have access to education. King Abdullah, in his speech, confirmed his commitment to assisting Jordan’s government to stimulate these reforms that promote a healthy business environment.

Jordan’s capable sectors that have witnessed a considerable foreign investment, including back-office services, information technology, renewable energy and tourism, which will provide avenues for employment of most of its talented youths. This will reduce the county’s unemployment rate, while growing its economy to help fund other government projects. In doing so, the country realises long-term sustainability and self-reliance rather than dependency on humanitarian aid. With extremely competent and competitive workforces in the region, and reinforced by remarkable coordination abilities, Jordan is progressively well placed as a regional centre for industry, technology, tourism and proficient services. His Majesty the King affirmed that Jordan has competitive superiority, such as having a core of talented, ambitious young people, a salient geostrategic location and Jordan’s honoured role in international trade affairs. Bilateral trades will highly improve and the country will generate income from the tourism sector because the issues of the volatile neighbourhood countries will be resolved.

Power and interest have been guiding the bilateral state relations across the world. Now that the collective power of governments has boosted reforms in the country, the generated opportunities for international business will open the country’s access to the international market. The collaboration between the UK and Jordan is indispensable to safeguarding stability in the region and the problems of refugees and border closures will be tackled. This cooperation amongst these states improves bilateral relations in terms of international trade affairs and joint effort to counter the refugee and terrorism problems in the Middle East. The UK and Jordan partnership has been extended to include other states, based on the representatives who were present at the conference, resulting in multilateral relationships. What can possibly be difficult to handle after gaining the support of other powerful states like the US? The countries are now better placed to solve the problems facing Jordan and help it in the economic recovery process.

British Prime Minister Theresa May’s declaration of cooperation with Jordan was a major accomplishment for Jordan, whose vision for reform will be backed by the UK in terms of funding, which is essential for Jordan’s economic growth. Speaking at the Jordan 2019 Growth and Opportunity conference in London, May stated that the initiative coincides with Jordan’s Vision 2025, and defends Jordan in fulfilling social and economic reforms that will renew its economy. She maintained that the vision is becoming a reality because the conference signifies the degree of achievement, and Jordan’s reform programme is creating the distinction. The King similarly lauded Jordanians for their resilience and capability that was a source of their economic opportunity. 

It is time to make significant decisions at the local, political and economic levels in line with the London conference. Going beyond the London conference requires the country to take measures to ensure successful implementation of the initiatives. It may include taking affirmative actions necessary to bridge the gaps identified, particularly the country should work towards creating safe buffer zones for the repatriation of refugees. Jordan should also use resources at its disposal to ensure sustainable growth of the economy for current and forthcoming generations. Since the country has formed an alliance with several parties and other countries, policies should be well streamlined to ensure transparency and accountability of the government. A prospering Jordan warrants stability in the Middle East region and countering global terrorism will be inevitable.

The writer is an international relations specialist. He contributed this article to The Jordan Times