Entrepreneurship in Jordan
Challenges
- Meager natural resources
- Insufficient supplies of water, oil, and other natural resources
- Economic difficulties
- Poverty, unemployment, and inflation
- Regional events
- The Iraq war and the Arab-Israeli conflict have resulted in a massive influx of refugees to Jordan and have increased internal tensions
Economic Development
Since 1999, King Abdullah has promoted significant economic reform by:
- Increasing privatization
- Conducting careful monetary policy
- Reducing the debt to GDP ratio
- Initiating membership in the WTO
- Securing a Free Trade Agreement with the U.S.
- Welcoming foreign investment
- Reducing regulatory burdens for businesses
- Investing in health and education
- Strengthening property rights
- These measures have improved productivity and increased foreign investment in Jordan
- Intellectual property protection has spurred significant growth in the IT and pharmaceutical industries
- Jordan must continue to attract more foreign investment to promote job creation and further economic growth
Advantages of doing business in Jordan
- Friendly and welcoming culture
- Open attitude toward foreign investors
- Favorable tax structure
- Flexible regulatory structure
- Free Trade Agreement with USA
- Relatively stable political and economic environment
- Seen as a gateway to the Middle East
- Local market depends significantly on imports
- Adequate infrastructure and services
Major Sectors
- Safety & Security
- Energy
- Automotive
- Building & Construction
- Information Technology
- Medical & Health
Jordan Entrepreneurship Articles
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Quick Facts:
Population: 4,017,095
GDP: $44.05 Billion ('08)
GDP Growth Rate: 7% ('08)
GDP per Capita: $11,100
Government: Republic
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