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Jordan Times
2 days ago
- Business
- Jordan Times
EMV investment workshop focuses on driving sustainable economic growth, job creation
AMMAN — The Economic Modernisation Vision (EMV) workshops continued on Sunday at the Royal Hashemite Court with a focus on the investment sector, highlighting its role in driving sustainable economic growth and job creation, especially for youth. The workshop brought together representatives from government institutions, the private sector and civil society to review the progress achieved in the investment sector and identify priorities for the next phase of the EMV. The investment engine is a 'strategic and pivotal' pillar in supporting and achieving the objectives of the EMV by focusing its efforts on attracting local and foreign investments, improving the business environment and developing policies to accelerate the pace of benefiting from investments. It also contributes to creating an attractive investment environment in the Kingdom, which stimulates economic growth and opens wider horizons for providing job opportunities and developing productive sectors. Participants discussed Jordan's advantages, including its strategic geographical location as a gateway between Europe, Asia and Africa, bilateral investment agreements and free trade agreements (FTAs) with major markets such as the EU, the US, Arab Gulf states, Agadir and Singapore. They also pointed to providing competitive incentives in development zones, free zones, and special economic zones, as well as promising sectors with significant investment potential, such as digital economy, green hydrogen, logistics, gas, mining, industry and life sciences. The strengths of Jordan is also represented in the political stability that encourages investment, and having a young, educated, and tech-savvy workforce, in addition to enjoying the freedom to transfer capital and withdraw profits, especially that the Jordanian dinar is pegged to the US dollar. Key goals of the EMV include attracting investments worth JD41 billion (JD18 billion foreign direct investments, JD12 billion of domestic direct investment, and JD11 billion of government direct investment) by 2033. Other objectives are related to creating economic and employment opportunities to absorb more than one million young men and women in the labour market, and supporting development goals. The EMV also outlines efforts to support establishing Jordan's position as a regional centre of excellence for effective and sustainable investment, as well as enhancing Jordan's competitiveness in attracting foreign direct investment in priority sectors, such as ICT, green energy, pharmaceutical industries, tourism and logistics. The most prominent initiatives of the investment engine in the first phase include improving Jordan's rank in international indicators and reports, creating and developing new and innovative financing partnership models with the private sector, improving the investment environment in the Kingdom and developing its components. More initiatives pertain to development of an effective strategy to communicate with local and international investors, and launch an integrated promotional campaign programme, attracting and stimulating local and foreign investments, developing a comprehensive investor database, and establishing a system for managing integrated investor relations. Most prominent achievements for the investment engine for the first phase include boosting the legislative and regulatory framework that attracts investment, developing digital infrastructure and improving government services for investors, and effective promotion of quality investment opportunities. More achievements include improving investor experience and enhance post-establishment services, and boosting local and regional partnerships to implement quality projects, providing incentives and reducing investment costs, in addition to financial stimulus and revitalisation of international cooperation. Despite this progress, attendees of the workshop noted that challenges remain. Partner and General Manager of Abu-Haltam Group for Investments Iyad Abu Haltam said that the EMV has more than 350 initiatives throughout its 10-year span, noting that the progress rate in the implementation over the past three years varies between different sectors. He added: 'The progress in some sectors was less than 30 per cent, some achieved around 60 per cent, while others made a progress of 10 to 15 per cent.' The main reasons behind slow progress can be attributed to the turbulence in the region including the war on Gaza and the turbulence in the supply chain through Bab Al Mandeb Strait, Abu Haltam noted. He pointed: "We should have a proper and structured way of the dialogue between the private and the public sectors regarding any newly introduced laws or bylaws." Managing Partner of SME Investment Fund Jameel Anz said in terms of challenges: "The entire domain is challenged by a lot of factors, whether it's financing, access to finance, access to capital, access to resources, the geopolitical environment." Anz added: "SMEs do face, but sometimes at a larger scale, a higher tendency to break because of their size. At the same time, SMEs do face a challenge when it comes to corporate governance because all of these companies are friends and family based, so corporate governance is an issue." He said: "Sustainability and continuity of the companies is also an issue. So part of helping promote and sustain these companies is to help them with access to finance, help them with capacity building, moving them out of the friends and family [atmosphere] into a more corporate structure." "Solutions for SMEs are capacity building. Access to finance and corporate governance are others." Anz noted.
The Independent
4 days ago
- Business
- The Independent
There is a way to boost economic growth without spending money
Repeatedly, we hear Keir Starmer and Rachel Reeves are putting pressure on ministers and departments to generate ideas for economic growth. So, here is one: the third sector. Start using the civil society, as it's also called, to its full potential, to drive the economy. A new report from the Gradel Institute of Charity at Oxford University, A Third Way of Doing Growth, makes a persuasive case for a fresh look at this frequently ignored national resource. Research by Pro Bono Economics for the study suggests the third sector creates at least £39.5bn of economic value a year if volunteer hours are factored in – and well over £100bn if the full economic contribution by the sector is assessed. Adds the report: 'Statistical evidence also shows that there are many persistent societal challenges that the third sector can often tackle more effectively (and therefore more cost-efficiently) than the public or private sector alone.' So, a win-win. Stephen Bubb, executive director of the Gradel Institute and a former head of the charity leaders' representative body, Association of Chief Executives of Voluntary Organisations, argues that a huge opportunity is being missed. 'The government should think about the third sector and how they can harness its energy and strength,' he says. Bubb said similar to Tony Blair in his third term as prime minister. The result was the appointment of Ed Miliband as the first third sector minister and a white paper. As with many such initiatives, it was promptly forgotten as the government changed. It was resurrected, of sorts, under David Cameron with his 'big society' push. 'Cameron got the point about how civil society could be used more,' says Bubb, 'but he tried to implement it at the same time as the austerity programme.' As a result, it never took off. What is different this time is that Labour are desperate for something new that does not involve the spending of vast sums of public money. The report makes a few key recommendations. Firstly, deliver better social business models for social care. Currently, the market is dominated by private firms, which are mostly extractive, putting little back, taking out their profits. New businesses mean new jobs, new tax revenues, and significant net gains for local economies. Secondly, focus on prevention to reduce crisis management. A lot of the focus in the third sector is on assisting people once they are in crisis. 'The prisons are full,' says Bubb. 'The state is hopeless at rehabilitation. Charities are good at it, they know what they are doing. Prisoners leaving and going into jobs is seeing them making a positive contribution to society, to the economy. Charites are better at helping them in securing work than the state. It's the same with mental health – the charities' record in this area is also much better.' Rebuild social connection to drive social mobility. A decline in investment in public social infrastructure, combined with Covid and the rise of social media, has led to 'a crisis of social connection in the UK – one of the most important factors in social mobility and economic inclusion,' the report says. The problem is especially acute among the nearly 1 million young adults not in employment, education, or training (Neets). 'The most effective means to engage this cohort is through charitable and voluntary institutions which – through community-based approaches and one-to-one engagement – have a proven ability to connect with those most distant from society.' Help government rewire delivery of public services. Starmer has talked about his ambition for a 'complete rewiring of the British state' to better serve the needs of the people. 'By involving the third sector in this endeavour, government has enormous potential to move away from for-profit commissioning to innovating services built around people's real-life needs and a far greater focus on rewarding organisations based on the outcomes achieved.' To that end, they suggest creating a 'Civil Society Satellite Account' in the national accounts, so there is clarity as to the third sector's full value (similar to how tourism and other sectors are treated). Sixteen countries already do this, but not the UK. They also recommend opening up public sector procurement to the third sector to transform service delivery. Of the £350bn a year that the government spends on procurement, only £21bn is administered by the third sector, meaning their skills, abilities and perspectives are simply not being efficiently deployed. Other suggestions include: building a national programme of volunteering, aimed particularly at those 18-25 Neets; and creating innovative partnerships to rebuild the social infrastructure critical for inclusive growth. As Bubb says: 'It is not so much a policy shift but the better, more focused use of an enormous resource.' It also plays to Labour ideology. Put like that, you do wonder what Starmer and Reeves are waiting for.
Zawya
15-07-2025
- Politics
- Zawya
Dialogues strengthen Unity women's role in peace and security
In South Sudan, entrenched patriarchal norms and the effects of years of conflict continue to hinder women from participating in peacebuilding and governance. Early marriages, widespread gender-based violence, and exclusion from decision-making remain real hurdles for the implementation of their substantially increased and meaningful inclusion in matters that matter. The slow progress does not, however, deter women in Unity State from advocating for their rights and building informal networks of influence at the grassroots level. Some, like the young teacher Elizabeth Nyatab, are prepared to play the long game - if that is what it takes. 'I encourage parents to educate their daughters, because without schooling, it will be difficult also for future generations of women to play prominent roles in decision-making, We have no choice but to break the cultural norms that confine many of us to the domestic sphere,' she said. In fact, Ms. Nyatab made her point on behalf of a group of women leaders representing local authorities, state institutions and civil society groups. Together, they, and other similar small groups, were presenting their findings resulting from discussions on how to increase women's real participation in peace, security and other processes of public interest. Of much such interest are South Sudan's first post-independence elections, another subject that sparked lively debate during a week of civic engagement activities in Bentiu, Rubkona and Rotriak/Lalop. While many saw elections as a path to legitimacy and stability, others voiced concerns about prevailing insecurity and political divisions. 'If our country wants credible elections, political detainees must be released and the army united under one national command. Conditions for the free and fair participation for all are also essential for this dream to come true,' opined Angelina Nyawuora Turoal, former Chairperson of a network of civil society organizations in Rubkona. The dialogue sessions were conducted by the United Nations Mission in South Sudan (UNMISS) and counted on the support of its Electoral Affairs Division. 'This week of conversations made it clear that women, on the rise and challenging norms in Unity State and elsewhere, must have their voices heard. And there is more, because their words need to be acted on as well,' concluded Alexandre Marie Rose Fernande Alexandre, a Civil Affairs Officer serving with the UN peacekeeping mission. Distributed by APO Group on behalf of United Nations Mission in South Sudan (UNMISS).
