Day: April 16, 2025

Amman: President of the Jordan Chamber of Commerce (JCC), Khalil Al-Haj Tawfiq, has called for a dedicated framework to engage Jordanian investors living abroad, aiming to harness their expertise and resources to help realize the Kingdom’s ambitious Economic Modernization Vision.

According to Jordan News Agency, during a meeting with Jordanian business leaders and executives based in Saudi Arabia, Al-Haj Tawfiq highlighted the importance of involving the diaspora in shaping Jordan’s economic future. He noted that the modernization roadmap, which outlines national priorities across sectors, offers a long-term vision that goes beyond individual governments, signaling a new era of economic development.

The gathering was held at the residence of Jordan’s Ambassador to Saudi Arabia, Haitham Abu Al-Foul, amidst a period of broad reforms across political, economic, and administrative domains in Jordan, led by His Majesty King Abdullah II. Al-Haj Tawfiq emphasized the role of every stakeholder, including Jordanians abroad, in contributing to this transformative journey.

He pointed to strategic opportunities in key sectors where Jordan holds a competitive edge, especially in large-scale infrastructure and public-private partnership projects. Recent reforms, including a new investment law offering incentives and guarantees, have improved the investment climate and laid the groundwork for attracting both domestic and foreign capital.

Al-Haj Tawfiq underscored the untapped potential of Jordanians abroad, who possess not just capital, but significant management and technical know-how. He called for more structured efforts to involve them in entrepreneurial ventures and innovation-driven investments within Jordan, facilitating knowledge transfer and fostering a culture of collaboration.

He also spoke about the Chamber’s efforts to build stronger ties with Jordanian investors across the globe, viewing them as vital economic ambassadors. A key goal, he said, is to provide platforms where these professionals can share their ideas, voice concerns, and help shape economic policy.

Throughout the meeting, Jordanian investors shared their success stories in sectors like technology, energy, and logistics, while also highlighting the challenges they face when considering expanding or relocating operations to Jordan. They offered suggestions aimed at attracting more investment and supporting higher economic growth.

Ambassador Abu Al-Foul reiterated the embassy’s strong commitment to supporting Jordanian professionals in Saudi Arabia, particularly investors and entrepreneurs. He said the embassy actively works to address any obstacles they face by coordinating closely with relevant authorities in both countries.

He emphasized that the embassy sees itself as a key partner in amplifying Jordan’s presence on the regional economic stage. Strengthening communication with the diaspora, providing guidance, and supporting their investment initiatives are top priorities.

Abu Al-Foul noted that Jordanian expatriates have much to offer, and that now is the right moment to direct their expertise and investment toward the Kingdom, especially given the momentum generated by recent economic reforms. He reaffirmed the embassy’s full support for initiatives that reconnect investors with their homeland and help channel capital and knowledge back into the local economy, ultimately contributing to sustainable national growth.

Amman: The Amman Stock Exchange (ASE) ended Wednesday’s session down 0.20 percent, closing at 2,540 points.

According to Jordan News Agency, trading activity recorded a total volume of approximately 3.2 million shares, with a transaction value of around JOD 8.6 million across 2,235 deals. Market data showed that out of the companies whose shares were traded, 24 recorded gains, 18 declined, and 35 remained unchanged.

Amman: The General Assembly of the Arab Potash Company (APC) has approved the Board of Directors’ recommendation to distribute JD100 million in cash dividends to shareholders, amounting to 120 percent of the company’s capital.

According to Jordan News Agency, the decision was announced during the company’s annual general meeting held Wednesday, chaired by Chairperson of the Board Shehadeh Abu Hdeib and attended by Board members, CEO Maen Nsour, and shareholders representing approximately 98.4 percent of the company’s capital. Also present was the General Controller of Companies, Wael Armouti. The assembly ratified the Board’s 2024 report, audited financial statements, and the company’s strategic outlook.

Abu Hdeib underscored APC’s resilience and adaptability in the face of geopolitical and economic volatility, crediting the company’s robust policies and long-term planning for its sustained growth. He emphasized APC’s strategic role in bolstering Jordan’s economy and contributing to global food security.

He highlighted the Royal support the company has received, notably through high-level visits and the inauguration of major projects worth $450 million, including pumping stations, production plants, a logistics and services center, and a research and innovation facility. These developments have enhanced APC’s production flexibility and diversified its operations, reflecting the Hashemite leadership’s commitment to supporting national industries.

Abu Hdeib noted that APC’s net profits between 2019 and 2024 totaled approximately $2.2 billion, attributing this to a comprehensive ten-year expansion plan aimed at raising production capacity to over 3.7 million tonnes annually.

As part of the Economic Modernization Vision, he detailed the launch of an ambitious strategy (2024-2033) to develop the fertilizer and chemical derivatives sector. This includes establishing an integrated industrial complex for specialized fertilizers and chemical products, in collaboration with domestic and international partners.

He also referred to APC’s expanded strategic partnership with the United States-based Albemarle Corporation, involving an $800 million investment to double bromine production. The agreement positions Jordan among the global leaders in bromine production and exports, enhancing its standing in the advanced chemical manufacturing sector.

Abu Hdeib described the partnership as a vote of confidence in APC and Jordan’s stable, investor-friendly environment. He emphasized the company’s commitment to corporate social responsibility, with contributions exceeding JD66 million over five years in areas such as education, health, infrastructure, and renewable energy.

He affirmed that APC is entering a new phase of transformational growth, focused on maximizing the strategic value of national resources and cementing Jordan’s position as a global industrial hub.

He praised the government’s efforts to foster a competitive investment climate through supportive legislation, noting that enhancing APC’s capabilities benefits not only the company and its investors but also the broader national economy and local communities.

CEO Maen Nsour reiterated that APC achieved strong operational, financial, and marketing results in 2024, despite global supply chain disruptions and rising shipping costs. He attributed this success to the company’s adherence to its long-term strategy launched in 2019, which emphasizes operational agility and strategic investment.

Nsour noted that direct Royal support culminated in His Majesty King Abdullah II’s visit to the company’s Ghor Al Safi facilities in 2024, where several key projects were inaugurated. This visit reflected the Kingdom’s high-level endorsement of APC’s national significance.

In 2024, APC recorded a record potash production volume of 2.84 million tonnes, a 17 percent increase compared to 2018. Sales reached 2.78 million tonnes, driven by growth in strategic markets such as Europe and Brazil, the latter now among APC’s top five global markets. The company also bolstered its European presence by establishing a wholly owned subsidiary to enhance marketing and expand market share.

Financially, consolidated revenues stood at JD651 million, with net profits of JD184 million. APC contributed approximately $1.3 billion in foreign currency to the local banking sector. Operational efficiency improved with a 5 percent increase in potash production and reduced production costs compared to 2023.

Nsour also pointed to APC’s concurrent strategy to grow in high-value-added fertilizer and chemical derivatives. This includes the Jordan Bromine Company’s expansion and the development of specialty fertilizer products aimed at diversifying income streams and supporting local industry.

He affirmed APC’s commitment to sustainability through renewable energy projects with a generation capacity of 36 megawatts, water reuse initiatives, and upgrades to transportation and logistics systems to lower the company’s carbon footprint and improve competitiveness.

Nsour concluded by commending the dedication of APC’s workforce and partners, including the General Union of Workers in Mines, Mining and Cement, the company’s trade union committee, and the Jordan Engineers Association – Potash Branch. He stressed the importance of maintaining momentum to build on the company’s accomplishments.

Amman: The Ministry of Industry, Trade, and Supply has announced a tender to procure 100,000 to 120,000 tons of wheat, inviting interested parties to participate.

According to Jordan News Agency, tender documents, including terms and specifications, can be obtained from the Tender Department for a non-refundable fee of JD 650.

The deadline for bid submission is set for 2:00 PM next Tuesday.

Participants are required to submit a valid professional license, a copy of a commercial register issued within 30 days of the bid opening date, and a valid certificate of registration from the Chamber of Commerce.

Amman: Speaker of the Arab Parliament Mohammed bin Ahmed Yamahi on Wednesday condemned plots targeting Jordan’s security and stability, commending the vigilance and professionalism of the Jordanian security services in successfully thwarting such subversive plots.

According to Jordan News Agency, Yamahi expressed the Arab Parliament’s unwavering solidarity with the Kingdom and its support for all measures taken to safeguard its security and stability.

He underscored that the security of Jordan is an essential component of Arab national security, expressing prayers for the continued safety, stability, and prosperity of Jordan and its people.

Amman: The United Nations Human Settlements Program (UN-Habitat) and the United Nations Development Program (UNDP), in partnership with the Office of the UN High Commissioner for Human Rights, the Cities and Villages Development Bank (CVDB), and local stakeholders, launched a collaborative project titled “Inclusive Development Pathways: Linking Data, Participation, and Human Rights for the Localization of the Sustainable Development Goals (SDGs).”

According to Jordan News Agency, the project, funded by the Joint SDG Fund, seeks to improve participatory data collection and monitoring through digital platforms, while enhancing coordination to localize SDG implementation within a human rights-based framework. The initiative also aims to address existing gaps in the monitoring process.

Speaking at the launch, Dima Abu Diab, UN-Habitat Coordinator in Jordan, described the project as a significant step toward realizing the 2030 Agenda. She emphasized the importance of inclusive participation and robust digital systems in ensuring all stakeholders particularly vulnerable groups contribute to and benefit from sustainable development efforts.

UNDP Resident Representative in Jordan, Randa Aboul-Hosn, affirmed the agency’s commitment to supporting national development priorities and accelerating progress toward the SDGs through effective partnerships.

Acting General Manager of CVDB, Mohammad Harahsheh, underscored the importance of digital transformation and data transparency in promoting evidence-based policymaking. He hailed the agreement as a key milestone in advancing sustainable development in the Kingdom.

The project will support the Irbid Urban Observatory and national digital platforms, including Tanmia and Jordan Gate, to integrate SDG indicators, improve policy coherence, and strengthen coordination mechanisms. Planned activities include pilot initiatives, capacity-building workshops, and participatory forums aimed at engaging all relevant stakeholders in the SDG localization process.