Jordan

Saadeh Audit, Jordan – Global Accounting Alliance Member

Economic Overview and Business Opportunities in Jordan

With its free trade zones and free economy, Jordan is able to attract investors to its shores in search of business opportunities. With minimal investment upfront, investors can start a business in Jordan in nearly any industry.

3E Accounting can help you start a business in Jordan by utilising our experience and expertise. But first, let’s take a look at the economic overview of the country so you know what to expect.

 

Economic Overview

Jordan has a liberal business environment and is very welcoming toward foreign investment. With no restrictions when it comes to foreign company ownership, investors are able to contribute significantly to the economic growth.

After the shock of the COVID-19 pandemic, Jordan began making its economic recovery. In 2021, there was growth in its real GDP by 2.2%. However, it is still dealing with the aftermath of COVID-19 when it comes to issues like youth unemployment, unemployment, and a lack of participation in the women’s labour force.

The Government is fully aware that for Jordan’s economy to transform, it must identify sectors where there are opportunities to expand. Hence, the Government launched its economic visioning exercise in 2022. The aim was to target sectors where growth opportunities lay for the next 10 years or more. Making the public sector more modern is also part of this plan.

 

Business Opportunities

When an investor thinks about where their next business venture should be set up, they think about the opportunities. Specifically, they think about which markets offer the best business opportunities. Jordan has no shortage of opportunities for the investor with the business plan.

Jordan has an improving business climate, but there is definitely room for improvement. Business opportunities in Jordan are available in several sectors. Such as in the Information, Communications, and Technology (ICT) sector. This is one of Jordan’s fastest growing sectors, and there is opportunity to tap into both the local and regional markets.

The agriculture and energy sectors also hold possibilities for investors who are keen on this field. The country is focusing on renewable energy at the moment. Jordan also has a strong demand for imported security and safety equipment, so this is yet another sector to explore where business opportunities are concerned.

Investors can also consider exploring the possibilities within the medical technologies sector. As a regional leader when it comes to the provisions for medical services, Jordan is paving the way. Nationals from the Gulf Cooperation Council (GCC) regularly head to Jordan to seek out quality treatment that is also affordable. This in turn will create a demand for more advanced medical supplies, equipment, and technology. This is where investors come in and meet that demand.

 

Start a Business in Jordan

Would you like to start a business in Jordan? We are here to help. Visit our website and get in touch with us today. Our friendly team will have your business up and running before you know it.