Day: May 24, 2023

In celebration of Independence Day, Ahmad Khudari, the head of the Jordanian Exporters Association (JEA), highlighted the remarkable achievements of Jordan’s industrial exports, emphasizing their quality and competitiveness in global markets. In a statement on Wednesday, Khudari underscored the substantial growth of Jordan’s industrial exports, which escalated from JD500 million in the late 20th century to over JD7 billion today, playing a pivotal role in the expansion and development of the country’s industry. Khudari attributed the international success of Jordanian industrial exports to the nation’s hard-earned independence, attained through the sacrifices of its leadership and devoted citizens. He praised the industry sector, one of the oldest in the region, which employs nearly a quarter of a million people, predominantly Jordanians, and has now achieved international recognition. The diligent workforce produces goods that reach consumers in 144 countries worldwide. Highlighting Jordan’s significant economic ties with numerous nations, Khudari pointed out its membership in the World Trade Organization and free trade agreements with the United States, Canada, the European Union, and the Greater Arab Free Trade Area (GAFTA). Additionally, he mentioned the existence of bilateral agreements with various countries, further contributing to Jordan’s economic growth. Khudari emphasized that Jordanian exports play a vital role in increasing output, generating employment opportunities for Jordanians, bolstering foreign exchange reserves, and attracting new investors. He stressed the importance of both the private and public sectors fulfilling His Majesty the King’s economic vision, particularly in implementing the Economic Modernization Vision. This comprehensive initiative supports economic sectors and is crucial for achieving overall development goals, boosting exports, attracting investments, and creating jobs. The head of JEA highlighted the presence of numerous high-value industries in Jordan, including food, pharmaceuticals, knitwear, chemicals, engineering, mining, agriculture, food security, and logistics services. He also underscored the significance of enhancing the capacities of Jordanian industrial companies through scientific research and innovation to foster product development and global competitiveness. Additionally, Khudari emphasized the importance of maximizing local resources to establish value-added industries that contribute to the national economy and expand market presence in the American and European markets. With Jordanian industrial exports accounting for 90% of the Kingdom’s total exports and the sector representing a quarter of the GDP, Khudari called for a reconsideration of fuel prices and freight charges to reduce operating costs and increase the share of Jordanian products in the domestic market. To sustain the growth of national exports, he stressed the need to explore new marketing channels, introduce export incentive programs, support participation in international exhibitions to promote domestic industry, and strengthen economic ties with friendly nations.

Source: Jordan News Agency

Over the past six decades, the Jordanian pharmaceutical industry has achieved remarkable growth and acclaim. It has earned a solid reputation among manufacturers and producers, enabling it to venture into international markets and establish a strong presence as a leading exporter. Founded by a group of pharmacists and business owners, the Jordanian pharmaceutical industry thrived under the supportive environment provided by the Hashemite leadership. Believing in the importance of self-reliance, the leadership paved the way for economic activity and provided opportunities for production and development. The Jordanian pharmaceutical industry emerged as one of the earliest Arab industries, with the establishment of its first factory in Salt in 1962. From its inception, the industry aimed to create a national product with a distinction that would transcend borders. It quickly garnered quality certifications, gaining the trust and confidence of export markets. Today, Jordanian medicines are available in 85 countries worldwide. One notable aspect of the Jordanian pharmaceutical industry is its reliance on local talent. More than 98 percent of the sector’s workforce of 10,000 employees are Jordanians, with women constituting 35 percent of the workforce. This emphasis on employing local expertise showcases the industry’s commitment to human capital development. As the only country in the region that exports 80 percent of its pharmaceutical production, the Jordanian pharmaceutical industry has been recognized with quality certifications, further bolstering its reputation and boosting sales. It competes with international businesses and has made inroads into non-traditional markets in Europe, America, Africa, East Asia, and Latin America. Fadi Al-Atrash, who represents the therapeutic industries and medical supplies sector at the Jordan Chamber of Industry, spoke to the Jordan News Agency (Petra) about the achievements and significance of the pharmaceutical industry. He highlighted that the industry enjoys direct support, care, and interest from His Majesty King Abdullah II. “The industry’s inclusion in the Economic Modernization Vision underscores its importance and positive impact on the national economy, placing it at the forefront of the regional pharmaceutical landscape,” he said. Al-Atrash noted the industry’s growth and investments, exemplified by the opening of state-of-the-art production lines and modern pharmaceutical factories, the development of new therapeutic groups, and the expansion into non-traditional global export markets. The sector encompasses 151 establishments with a total registered capital of approximately JD341 million. Additionally, 15 Jordanian factories operate outside the Kingdom, strategically located in Saudi Arabia, Algeria, Egypt, Morocco, and Sudan. Looking ahead, he added, the Economic Modernization Vision aims to further elevate the pharmaceutical industry’s impact. The goal is to increase sector exports to JD2.1 billion by 2033 through the establishment of a drug research and development center, the promotion of quality pharmaceutical industries, and the attraction of investments totaling approximately JD1.1 billion. Al-Atrash indicated that the benefits of the Jordanian pharmaceutical industry extend beyond economic prosperity, saying that it supports and bolsters the medical tourism industry, contributes to national security, and has proven its resilience during the COVID-19 pandemic.

Source: Jordan News Agency

A mechanism to prepare a new industrial policy was agreed upon during the first gathering of a national team assigned to develop a 5-year industrial policy. Chaired by Secretary-General of the Ministry of Industry, Trade, and Supply Dana Alzoubi, the meeting was followed by consultative gatherings throughout the week with public and private authorities, where they discussed the policy’s priorities and its main axes adopted to address the industrial sector challenges. The national team includes individuals from the Jordan, Amman, Zarqa, and Irbid chambers of industry, ministries of transport, energy, investment, and environment, the Jordan Standards and Metrology Organization, and the Jordan Food and Drug Administration.

Source: Jordan News Agency

Minister of Industry and Commerce Abdullah bin Adel Fakhro hailed the the growth of international investment projects in Bahrain.

He highlighted the package of facilities and incentives as part of strategies aimed at strengthening Bahrain’s investment standing as a gateway to business in the region.

The minister made the statement as he paid a visit to to the Singaporean company “MTQ Oilfield Services” in the Bahrain International Investment Park in Salman Industrial Town, where he met with the Chairman of the Board of Directors of the “MTQ” Group Kwah Kuk Kim.

He he was updated about the company’s workflow and future plans, as well as the range of advanced services it provides in the field of oil and gas safety equipment.

The Singaporean MTQ group is one of the most important international companies operating in the Kingdom of Bahrain in Salman Industrial Town.

Inaugurate in August 2009, the company operates in the field of repairing, providing services, and modernizing security and safety equipment in oil fields and in both offshore and onshore platforms.

Source: Bahrain News Agency