Amman: Sector-specific workshops for the second phase of Jordan’s Economic Modernization Vision (EMV) commenced at the Royal Hashemite Court, marking three years since the vision’s inception under royal directives. The initial day concentrated on water, public services, and financial markets, gathering experts and specialists to evaluate progress, accelerate implementation, and refine initiatives for tangible improvements in citizens’ lives.
According to Jordan News Agency, experts in the water sector highlighted the workshop’s significance for reviewing past efforts and enhancing future impact. They praised the progress in water management. Munjed Al-Sharif, a professor at the German Jordanian University, emphasized the need for a comprehensive review of sectoral performance since the vision’s launch. He noted the workshop’s role in assessing challenges and measuring goal attainment across sectors, particularly in water, which is closely linked to agriculture, environment, and energy.
Dureid Mahasneh, chairman of the EDAMA Association, focused on the water sector’s achievements over the past three years and proposed recommendations for improvement. He discussed water security, resource management, reducing water loss, and maintaining water quality. Mahasneh pointed out challenges such as water scarcity, resource security, climate change, and forced migration, impacting Jordan’s limited resources. He noted a reduction in non-revenue water from 52% to 49% over three years, a trend that must continue.
Participants emphasized that royal patronage ensures the vision’s ongoing implementation across governments. Maha Bahou, CEO of the Jordan Payments and Clearing Company, highlighted the commitment of King Abdullah II and Crown Prince Al Hussein bin Abdullah II to national development. She recalled the Royal Court’s 2022 hosting of over 500 participants to formulate the vision, enabling the development of the 2023-2025 executive plan. Bahou stressed a structured and inclusive approach to the second phase, aiming to identify strengths, address challenges, and uncover opportunities for enhanced performance.
Bahou noted the growing role of the financial and banking sectors, particularly fintech, in advancing digital services. She highlighted the national digital ID system launch, integrated with secure digital signatures through the Central Bank of Jordan, enhancing service efficiency and trust. This initiative supports a comprehensive digital economy focusing on quality of life, job creation, and sustainable growth while prioritizing youth empowerment and local innovation.
Majed Smeirat, president of the Jordan Insurance Federation, discussed the thorough review of the vision’s first phase, especially in the insurance sector. He pointed to reforms such as updates to the vehicle insurance system and the Insurance Contract Law, expected to be presented to Parliament. Smeirat emphasized the Central Bank’s regulatory oversight’s role in improving financial institutions’ performance. Looking ahead, the JIF aims to increase the sector’s GDP contribution by promoting an investment-friendly environment, underscoring insurance as a vital pillar of economic modernization.