Jordan Industrial Cities Attract 16 New Investments Worth JOD 11 Million in Karak

AMMAN: The Jordan Industrial Estates Company (JIEC) has successfully attracted 16 new industrial investments, collectively valued at JOD 11 million, to the Al-Hussein Bin Abdullah II Industrial City in Karak during the third quarter of this year. This development is expected to generate approximately 300 job opportunities upon full operation, contributing significantly to the region's economic landscape. According to Jordan News Agency, with these new investments, the total number of investments in the industrial city has increased to 56, elevating the overall investment value to over JOD 47 million and creating around 500 jobs to date. The JIEC acknowledged Prime Minister Jafar Hassan's visit to the industrial city and his engagement with investors, highlighting the government's persistent support for the industrial sector. JIEC Director General Omar Juwaied emphasized that the Prime Minister's visit underscores the government's commitment to connecting with various sectors, especially the industrial secto r, as part of its economic modernization vision aimed at revitalizing the national economy. He stated that the government's continuous efforts to bolster the industrial investment environment across Jordan's industrial cities have yielded economic growth, attracted new industrial investments, and created job opportunities. Juwaied further explained that the new investments cover a range of sectors, including food, engineering, textiles, paper, cardboard, and construction materials. He expressed optimism that more job opportunities will be available for the residents of Karak as the investments reach full operation over the next two years. He noted that the government's incentive packages for industrial investments have been instrumental in attracting businesses, making the city a prime destination for investors. The incentives for industrial investments in Al-Hussein Bin Abdullah II Industrial City include reduced electricity rates for small and medium-sized enterprises, with discounts ranging from 25% to 7 5% for five years. Additionally, the city benefits from the Ministry of Labor's productive branches program, which provides coverage for 50% of the minimum wage, plus JOD 25 for social security and JOD 25 for transportation for three years. The government also offers a 50% discount on container handling costs at Aqaba Port for goods exported from the city for three years. Furthermore, the Ministry of Agriculture supports investors in the agricultural industries through a project to stimulate agricultural industries within industrial cities, covering rental costs for five years from the lease signing date.