Jordan Times
Sunday, March 14, 1999
Investments rise by 147 per cent
AMMAN (J.T.) — INVESTMENT SHOT up by 147 per cent from the beginning of this year until March 10, 1999, the Investment Promotion Corporation announced in a press release. The corporation said a total of 41 projects with investments of around JD66.4 million benefitted from the advantages and incentives associated with Investment Law number 16 issued in 1995. During the same period last year, only 28 projects with investments of JD26.9 million took the privileges mentioned above.
Sectorally, 35 projects were industrial and carrying a total investment of about JD58 million which is an amount representing 87 per cent of the overall investments. The industrial sector accounted for 55 per cent of the overall investments during the same period of 1998.
Hospitals and hotels ranked in second and third place as investments in them amounted to JD5 million and JD3.1 million respectively. Only one hospital project accounted for seven per cent of the overall investments and three hotel projects accounted for five per cent of the total. During the same period last year the investments in hospitals and hotels were 33 per cent and seven per cent of the overall investments.
Two agricultural projects with a JD0.5 million investment were registered in 1999. Both accounted for one per cent of the overall amount compared to two per cent in 1998.
The corporation indicated that foreign investments in the projects reached JD22.2 million, 33 per cent of the overall investments compared to only three per cent during the same period of 1998. U.S. and Canadian investments ranked first with a JD9 million total followed by Arab investments that amounted to JD2.4 million. European investments totalled JD0.7 million.