Amman: The number of companies registered with the Companies Control Department rose by 17 percent in the first seven months of 2024 compared to the same period last year and by 39 percent compared to the same period in 2019, Minister of Industry, Trade, and Supply Yarub Qudah said on Sunday. In a statement, Qudah said a total of 4,224 companies were registered between January and July, with a combined capital exceeding JD287 million. He noted that the comparison with 2019 aims to highlight the consistent growth in business registrations, even during and after the COVID-19 pandemic.
According to Jordan News Agency, limited liability companies accounted for the majority of registrations, making up 71.5 percent, or 3,021 companies, with a combined capital of over JD84 million. Private shareholding companies recorded the highest capital at over JD155 million. The minister also reported a significant decline in company closures and dissolutions, with only 651 companies deregistered during the first seven months of 2024-a 39 percent drop from the same period in 2023, and a 78 percent decrease from 2019, when 2,985 companies were removed from the registry.
Additionally, around 3,000 companies regularized their legal status as part of a campaign by the Companies Control Department to address inactive entities. Digital services also witnessed strong growth, with 385,224 electronic transactions completed in the first seven months of 2024, up 81 percent from 212,576 transactions during the same period last year. Electronic payments rose by 35 percent to JD11.1 million, compared to JD8.2 million a year earlier.
Qudah said most of the newly registered companies operate in the import-export, marketing services, management consulting, food service, real estate and housing, information technology, brokerage, trade, packaging, and logistics sectors. The surge in company registrations reflects Jordan’s investment appeal, bolstered by its investment-friendly legal framework, streamlined administrative procedures, robust banking sector, political stability, and strong institutional support for investors, he added.
He stressed that these trends highlight the resilience of Jordan’s economy amid regional and global challenges. The Economic Modernization Vision and its executive program, he said, aim to drive further investment through new incentives and simplified processes. The minister also noted that the Companies Control Department has largely automated its services, with investors now only needing to visit in person to sign documents, significantly accelerating the registration process.