Jordan is a well-developed country in the Middle East, with a quite high concentration of services in its economy. The services represent around 67% of the local economy, with industry and agriculture accounting for 30% and respectively 3% of the GDP. In this article, our company formation agents in Jordan present the most attractive investment industries in Jordan.
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Agriculture, forestry and fishing in Jordan
Starting with 1996, around 6.7% of the local labor force has been employed in agriculture, forestry or fishing. In 1997, this industry represented 6% of the country’s GDP at factor cost.
Around 70% of the total production of fruits and vegetables in Jordan comes from the Jordan Valley, even though it represents only 15% of the arable territory of the country.
The agriculture in the Jordan Valley has become extremely productive, partially because of the integrated development projects.
If you would like to open a company in Jordan in this sector, our Jordan company formation consultants can help.
The solar power sector
Confronted with high and volatile fossil fuel costs, the local authorities have issued an aggressive national strategy to develop the production of privately financed, commercial scale renewable energy, which is another attractive investment industry in Jordan.
Through engaging seven small, individual solar power projects into one single, standardized financing structure (called Seven Sisters), Jordan was capable of spreading the expenses, shortening the timelines and attract the much needed financing and entrepreneurs to make this project become a reality. Our company registration advisors in Jordan can provide more details on this sector.
Other industries in Jordan
The textile and garment industry in Jordan plays an important role in the local economy, accounting for 10% of the export earnings of the country.
Jordan is gradually becoming a garment manufacturing hub in the Middle East for international famous brands.
The country is also promoting itself as a regional information and communication technology (ICT) center, with the National ICT Strategy (2013-2017) of Jordan declaring targets to be reached by last year such as an internet penetration of 85%, revenues of USD 3.15 billion, investments of USD 450 million and employment consisting of 20,000 jobs.
If you would like to know more about the economy of Jordan, or for assistance in starting a business in Jordan, please get in touch with our friendly staff.