JEF, UK trade envoy discuss investment opportunities, growth indicators
AMMAN — The Jordan Economic Forum (JEF) has held a meeting with new UK Trade Envoy to Jordan Lord Iain McNicol to explore prospects for enhanced cooperation and investment.
JEF Chairman Mazen Homoud, members of the board of directors, general assembly members, British Ambassador to Jordan Philip Hall and a representative from the UK Department for Business and Trade attended the meeting, according to a JEF statement.
The meeting focused on expanding bilateral cooperation, particularly in economic research and identifying high-value investment opportunities, emphasising the importance of building strategic partnerships to stimulate economic growth.
During the session, the forum presented a comprehensive overview of Jordan's Economic Modernisation Vision (EMV), which aims to stimulate growth and attract investment to create sustainable jobs, thereby reducing unemployment and supporting both economic and social stability.
The forum also highlighted the 'strength and resilience' of Jordan's banking sector, noting its positive growth trajectory, which reflects 'strong' investor confidence.
The sector plays a vital role in financing economic activities, especially investments that support sustainable development.
Homoud welcomed the UK delegation and reaffirmed the forum's commitment to fostering strategic partnerships with international institutions aimed at positioning Jordan as a leading regional hub for investment.
He expressed appreciation for the UK's 'consistent' economic support to Jordan, most notably exemplified by the 2016 London Conference, which marked a 'pivotal' moment in boosting economic cooperation between the two countries.
He stressed that the current phase requires intensified cooperation in advancing economic research to produce practical solutions for development challenges and to meet the economic goals of both kingdoms.
Homoud reiterated the forum's commitment to 'actively' connecting investors with real opportunities, pointing to Jordan's competitive investment environment, supported by advanced infrastructure and a business-friendly legal framework.
He invited British investors to explore new projects in renewable energy, technology and education.
For his part, Lord McNicol praised the economic reforms recently implemented by the Jordanian government, describing them as 'crucial' steps towards enhancing economic stability and growth.
He expressed appreciation for the ongoing efforts to improve the business climate, affirming that Jordan holds significant potential to attract international investment.
He noted the Jordan-UK Free Trade Agreement, which facilitates 'ambitious' bilateral trade cooperation, along with the free trade deals with the US, the European Union, countries of the Arab League and several others around the world, which offer valuable opportunities to Jordanian-based manufacturers and exporters.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Jordan News
6 hours ago
- Jordan News
Jordan Chamber of Industry: Construction Industries Witness a Surge in Exports - Jordan News
The construction industries sector in Jordan has achieved a significant leap in its exports during the first five months of this year, recording a 110% increase, highlighting its growing competitiveness in regional and international markets. اضافة اعلان In a statement issued on Sunday, the Jordan Chamber of Industry emphasized that the construction industries sector is among the leading industrial sectors that have achieved high growth rates since the beginning of 2025, with exports reaching 32 countries. This strong performance reflects the sector's increasing importance within the national economic framework. Local Market Performance and Industrial Role Performance indicators show that the sector has continued to strengthen its presence in the local market, capturing approximately 82% of total domestic consumption, which reflects the high level of dependence on its products within the Kingdom. The sector also contributed 10.2% to the total gross output of the manufacturing industries, which amounted to about 1.7 billion dinars, clearly demonstrating its central role in Jordan's industrial structure and its active contribution to supporting the economy and meeting the needs of urban expansion and major construction projects. Employment and Investment Impact According to the Chamber's statement, the construction industries sector is also considered a key driver of job creation in the Kingdom. It provides approximately 15,400 direct jobs across more than 2,200 industrial enterprises, with a total registered capital reaching 269 million dinars. Strategic Importance and Future Outlook The Chamber stressed the importance of continuing to support this vital sector and including it among the strategic priorities in the upcoming phase, particularly in light of neighboring countries' reconstruction efforts, which present valuable opportunities for Jordanian industry.
Jordan News
6 hours ago
- Jordan News
Extension of Jordan-Iraq Electricity Supply Agreement - Jordan News
Extension of Jordan-Iraq Electricity Supply Agreement The Director General of the National Electric Power Company (NEPCO), Dr. Sofian Al-Batainah, announced on Sunday that Jordan and Iraq have agreed to extend the electricity supply agreement from the Jordanian grid to Iraq for one more year. اضافة اعلان In a press statement following his meeting in Amman with the Director General of the General Company for Electricity Transmission / Central Region in Iraq, Eng. Riyadh Areibi, and the accompanying delegation, Al-Batainah explained that the extension was made at the request of the Iraqi side. The new agreement extends the contract for supplying electricity from NEPCO to the General Company for Electricity Transmission in Iraq to feed the Rutba area, for an additional year or until the 400 kV Jordan-Iraq interconnection line is electrified. The current supply contract will now remain valid until September 27, 2025. During the meeting, which was held at NEPCO headquarters, the Jordanian side confirmed its full readiness to electrify the 400 kV interconnection line from the Risha Substation. On their part, the Iraqi delegation expressed expectations that all project-related work on the 400 kV infrastructure on the Iraqi side will be completed within six months from the date of the meeting. Dr. Al-Batainah emphasized that both countries are working towards energizing the Jordan-Iraq power interconnection and commencing supply at 400 kV. This step is considered a precursor to activating synchronous interconnection between the two countries. The interconnection aims to: Enhance energy security for both Jordan and Iraq Support the stability of both national power grids Strengthen the strategic cooperation between the two neighboring nations
Ammon
a day ago
- Ammon
Jordan, UK talk closer transport ties
Ammon News - Minister of Transport Nidal Qatamin discussed with British Chargé d'Affaires Hazel Mowbray on Saturday prospects of cementing cooperation between Jordan and the UK in the transport field. The minister spoke about the possibility the UK provides support and facilities to advance the vital sector, particularly public transport and logistics. Mowbray pledged her country will offer support through the International Growth Centre (IGC), an economic research center based at the London School of Economics, in coordination with the Ministry of Planning and International Cooperation, for priority projects in the sector. The two sides agreed to continue technical and institutional cooperation to meet transport development goals and enhance the existing partnership between the two countries. Petra
