UAE’s ADQ to invest $5bn in Jordan’s economy

UAE’s ADQ to invest $5bn in Jordan’s economy

Abu Dhabi sovereign wealth fund ADQ has completed plans to invest $5 billion in infrastructure and other projects in Jordan. ADQ has completed the formalities to set up the infrastructure investment fund company, Jordan’s ministry of investment said in a statement. This initiative is part of the agreement signed with the UAE during last year’s visit to […]Abu Dhabi sovereign wealth fund ADQ has completed plans to invest $5 billion in infrastructure and other projects in Jordan.

ADQ has completed the formalities to set up the infrastructure investment fund company, Jordan’s ministry of investment said in a statement.

This initiative is part of the agreement signed with the UAE during last year’s visit to Abu Dhabi by Jordan’s King Abdullah II.

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The projects include a waste-to-energy plant, the operation and management of a multi-purpose port in Aqaba, and the construction of an internal rail network linking mining zones with Aqaba.

The sovereign fund will establish dedicated subsidiary companies for each project in line with Jordan Investment Fund Law.

ADQ is currently evaluating additional projects, the ministry said.

Non-oil trade between the two countries increased by 47 percent in 2022, reaching $4.5 billion, more than double the total in 2020. 

Jordan’s economic growth