Latest news with #FathiAl-Jaghbir
Jordan News
17-05-2025
- Business
- Jordan News
25 Jordanian Industrial Companies to Participate in International Construction Exhibition in Damascus - Jordan News
25 Jordanian Industrial Companies to Participate in International Construction Exhibition in Damascus Twenty-five Jordanian industrial companies will participate in the International Construction Exhibition set to be held in the Syrian capital, Damascus, on May 27. The event is organized by the Amman Chamber of Industry. اضافة اعلان Chairman of the Jordan and Amman Chambers of Industry, Eng. Fathi Al-Jaghbir, stated on Saturday that the participating companies represent sectors related to reconstruction—particularly infrastructure, building materials, and energy—alongside engineering industries in which Jordan holds significant competitive capabilities. In a statement, Al-Jaghbir added that an industrial delegation will visit Damascus on the sidelines of the exhibition. The delegation will include representatives from various industrial sectors and will explore opportunities for business partnerships and the establishment of integrated industries. He noted that the visit will also include meetings with several Syrian ministries and institutions involved in bilateral trade, stressing the importance of strengthening economic relations between Jordan and Syria, given their shared interests. Al-Jaghbir emphasized that easing restrictions on the movement of goods and financial transfers would help facilitate the flow of goods and services and enhance the investment environment on both sides of the border. He expressed hope for a return of Jordanian exports to Syria to their historical levels, which once exceeded 181 million Jordanian dinars. He pointed out that Jordan's exports to Syria reached 13 million dinars in the first two months of this year, marking a 40% increase compared to the same period in 2024. He also highlighted Jordan's strategic geographic location, positioning it as a key logistics hub for supplying goods to Syria, Lebanon, and Turkey. This, he said, reinforces Jordan's role as a regional trade corridor and supports the return of Jordanian exports to neighboring markets through Syrian territory. (Petra News Agency)
Jordan News
15-04-2025
- Business
- Jordan News
4.4% Industrial Sector Growth Last Year - Jordan News
The industrial sector achieved real growth of 4.4% last year compared to 2023, contributing 40% of the Kingdom's total economic growth despite regional challenges. اضافة اعلان Eng. Fathi Al-Jaghbir, Chairman of the Jordan Chamber of Industry, said in a statement on Monday that the industrial sector has proven its solid position as a key driver of economic activity and growth in the Kingdom, despite regional changes and unprecedented economic and global pressures. He added that the industrial sector's contributions were not just results, but clear evidence of its resilience, high reputation, and ability to achieve results that exceed expectations. He indicated that industry has become a driving force for the national economy, as it is the foundation and main pillar of the economic modernization vision. He pointed out that this growth was driven by positive developments and remarkable growth in various industrial sectors. The mining sector recorded growth of 5.5%, the manufacturing sector grew by 4.2%, and the electricity and water sector grew by 4.8%. He noted that industrial output, at current prices, reached JD8.6 billion in 2024, directly accounting for 23 percent of the gross domestic product (GDP), making it the highest-contributing economic sector to the national economy as a whole. He explained that the strong performance of the industrial sector stems from the accumulated foundations of years of continuous development, the global reliability of national industry, and its ability to transform challenges into opportunities to enhance production capacities and improve the industrial environment. He expressed his hope that the current year will be more advanced and prosperous for Jordanian industry, amid government attention through optimal implementation of all Economic Modernization Vision initiatives and enhancing its competitiveness, ensuring higher growth rates and maximizing the benefit of potential opportunities in local, regional, and global markets. Al-Jaghbeer pointed out that the contribution of industry to the GDP is due to the 1.4 percent growth in industrial exports last year compared to 2023, reaching a value of more than JD7.8 billion, representing approximately 92 percent of total national exports. Jordan's Industrial Sector Grows by 4.4% in 2024 Jordan's industrial sector recorded a real growth rate of 4.4% in 2024 compared to 2023, contributing to 40% of the country's overall economic growth, according to the Jordan Chamber of Industry. 🗣 Chairman Fathi Al-Jaghbir stated: 'This reflects the industrial sector's resilience and its pivotal role as a driver of Jordan's economy, despite regional instability and global economic challenges.' 📈 Growth by Sector: Mining: +5.5% Manufacturing: +4.2% Electricity & Water: +4.8% 💰 Industrial GDP Contribution: JD 8.6 billion in current prices Represents 23% of Jordan's total GDP The largest contributor among all economic sectors 📦 Industrial Exports: Increased by 1.4% in 2024 Exceeded JD 7.8 billion Accounted for 92% of national exports 🌍 The growth is attributed to: Long-standing industrial development Strong international reputation of Jordanian products Transformation of challenges into opportunities for expansion 🛠️ Al-Jaghbir expressed hope for continued industrial advancement in 2025 through: Effective implementation of the Economic Modernization Vision Enhanced competitiveness Seizing opportunities across local, regional, and global markets
Jordan News
11-03-2025
- Business
- Jordan News
Jordan's Exports to the Arab Region Rise - Jordan News
Jordan's Exports to the Arab Region Rise Jordan's national exports to the Arab Free Trade Area saw significant growth in the past year, increasing by 15.9% (488 million dinars) to reach 3.564 billion dinars, compared to 3.076 billion dinars in 2023. اضافة اعلان Exports to the Arab Free Trade Area accounted for 42% of Jordan's total exports last year, up from 37% in 2023. Meanwhile, the Kingdom's imports from Arab countries increased by 8.2%, reaching 5.078 billion dinars, compared to 4.693 billion dinars in 2023. Key Drivers of Export Growth The President of the Jordan and Amman Chambers of Industry, Engineer Fathi Al-Jaghbir, stated that the increase in national exports to Arab countries was driven by rising demand in these markets for Jordanian products, which are known for their high competitiveness and quality. He highlighted that Jordan's efforts to expand exports to key neighboring markets, particularly Iraq and Saudi Arabia, played a crucial role in promoting Jordanian products across the Arab world. Exports to Iraq grew by 42.5%, reaching 905 million dinars, while exports to Saudi Arabia increased by 14.3%, totaling 1.1 billion dinars. Sectoral Growth in Exports According to Al-Jaghbir, the key sectors that witnessed export growth included: Engineering industries (cables and wires) Construction materials (building units and prefabricated structures) Food industries (processed foods, tea, and tobacco) Chemical industries, packaging, plastics, and furniture Among the top exported products were fertilizers and cleaning products, while petroleum products, plastics, pearls, and jewelry were among the leading imports to Jordan. Strategic Steps to Enhance Exports Al-Jaghbir emphasized the need for strategic measures to further boost Jordanian exports, including: Enhancing Arab economic integration by fully implementing the Arab Free Trade Agreement, eliminating trade barriers, and simplifying export procedures. Reducing production costs, particularly by supplying industrial zones with natural gas to lower energy expenses and increase competitiveness. Expanding export opportunities by targeting underutilized markets, with potential exports exceeding $2 billion to countries such as: Saudi Arabia: $650 million UAE: $270 million Kuwait: $136 million Qatar: $135 million Egypt: $120 million Call for Stronger Arab Trade Cooperation Al-Jaghbir stressed the urgent need for stronger Arab trade cooperation, noting that intra-Arab trade accounts for only 12% of the region's total foreign trade. He urged Arab countries to: Remove trade restrictions Facilitate labor movement and investments Improve logistics and commercial shipping Jordan's Economic Stability and Export Potential Assistant Secretary-General of the Union of Arab Businessmen, Tareq Hijazi, highlighted that Jordan's free trade agreements and geopolitical stability position it as a gateway for trade and investment in the region. He pointed out that increasing demand for Jordanian products in Arab markets is driven by: Economic growth in some Arab countries Recovery from past economic crises High-quality Jordanian products that meet regional standards Key Recommendations for Sustainable Export Growth Economic expert Dr. Adli Qandah outlined several strategies to sustain Jordan's export growth: Diversify export products by expanding into technology and high-value services Improve quality standards to build consumer trust Upgrade logistics infrastructure (ports, roads, storage facilities) Encourage foreign investment in export-driven industries Leverage e-commerce and digital marketing to access new markets Reduce production costs through government support for energy prices and easier access to financing Enhance customs efficiency to streamline trade with Arab partners Conclusion With the right policies and investments, Jordan has the potential to achieve sustained export growth, strengthen its position in Arab markets, and contribute to broader regional economic integration. (Petra News Agency)
