Amman:The Kingdom has announced a new national sectoral strategy aimed at enhancing the competitiveness of its chemicals and cosmetics industries by 2029. The strategy focuses on innovation, compliance with international standards, and the development of higher-value products.
According to Jordan News Agency, the strategy sets ambitious targets, including increasing the share of products that comply with international standards from 65% in 2027 to 85% by 2029. It also aims to boost the introduction of new or upgraded products in the sector from 8% to 15% within the same period.
The Ministry of Industry, Trade and Supply, in collaboration with the Economic Reform Program and the Jordan Chamber of Industry, has prepared the strategy. It highlights the potential to expand the annual number of registered patents and new formulations from five in 2027 to 15 by 2029. Central to this strategy is the "High Value" program, which focuses on product innovation and the establishment of unique production lines.
Additionally, the "Compliance" program is designed to assist manufacturers in meeting international regulatory standards, such as the European Union's Carbon Border Adjustment Mechanism (CBAM) and the REACH framework. The program also encourages the adoption of sustainability certifications.
The strategy outlines six key programs to address the sector's development needs, focusing on efficiency, high-value product development, integration of industrial clusters, empowerment through financing and workforce skill development, market access, and compliance with international standards.
Jordan's natural resources are highlighted as a critical foundation for industrial growth, though the strategy acknowledges challenges, including reliance on imported intermediate materials and limited domestic value creation. To tackle these challenges, the strategy calls for increased investment in product development, the creation of export-oriented brands, and the establishment of a research and development center focused on industrial needs.
The strategy aims to transition the sector towards higher-value products through enhanced industrial, marketing, and research capabilities, ultimately boosting the competitiveness of local companies in both domestic and international markets.