Jordan attracts $50bln foreign investments in projects

Jordan attracts $50bln foreign investments in projects

Foreign investors have set up nearly 365 projects worth around $50 billion in Jordan over the past 20 years, taking advantage of improved investment laws, according to the head of the Arab League’s main investment body.

The value of those projects, which were undertaken by 288 foreign companies, accounted for nearly 3.3 percent of the total foreign direct investment flow in the region, said Abdullah Al-Subeih, Director General of the Kuwait-based Inter-Arab Investment Guarantee Corporation.

In 2022 alone, Jordan attracted 10 foreign projects worth nearly $394 million, Subeih said, adding that they were set up by nine foreign firms.

(Writing by Nadim Kawach; Editing by Anoop Menon)

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