Wednesday, July 24, 2024

Thani Al-Siodi: Jordan is a regional destination for Emirati investments worth $4 billion

Date:

The Minister of Foreign Affairs, His Excellency Dr. Thani bin Ahmad Al Saidi confirmed that the UAE and Jordan have a well-established and prosperous trade and investment partnership.

His Excellency said: Jordan is a preferred regional destination for direct Emirati investments, amounting to $4 billion, accounting for 14% of total foreign direct investment into the Kingdom. The United Kingdom and then Kuwait, with 8.2% and 7% shares respectively, are .2%.

He added: Non-oil domestic trade in 2022 was $4.5 billion, a growth of 47.4% compared to 2021, and non-oil UAE exports to Jordan were $1.6 billion in 2022, while the value of re-exports from the country was $2.4 billion compared to $513 million. Value of imports.

His Excellency Al-Zeyoudi pointed out that the Integrated Industrial Partnership linking the United Arab Emirates, Jordan, Egypt and Bahrain is seeing continuous positive developments to achieve sustainable economic growth in 5 promising industrial sectors including agriculture, food, fertilizer. , pharmaceuticals, textiles, minerals and petrochemicals, after the allocation of an investment fund, managed by ADQ Holding Company, valued at $10 billion, to invest in projects emerging from this partnership in agreed sectors.

His Excellency said: The UAE continues to focus on coordinating efforts to achieve comprehensive and sustainable economic growth, strengthening partnerships with countries in the region and benefiting from the qualitative competitive advantages and great potential enjoyed by member countries in the Integrated Industrial Partnership for a Sustainable Economy. Development, to increase the development of communities, to achieve economic and social goals, and to create a solid foundation for industrial cooperation.

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12 agreements and partnerships out of 9 integrated industrial projects have been announced, the investment value in key sectors exceeds two billion dollars, while these projects contribute to increasing domestic production in the partner countries, and the value exceeds 1.6 billion dollars. And provides 13 thousand direct job opportunities.

Bill Dittman
Bill Dittman
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