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Business Scene

* A senior Jordanian economic delegation is expected to visit Baghdad by the end of this month to revitalize bilateral economic relations. Sources at the Ministry of Industry and Trade said the visit aims to renew the joint trade protocol for 2003. It is also expected to tackle the possibilities of renewing the Iraqi oil agreement with Jordan, in which Jordan receives an annual sum of 5.5 million tons of oil products. This year's trade protocol with Iraq is worth $450 million. Iraqi officials noted earlier that Jordan's portion of the UN six-year Food-for-Oil program will increase in the coming year.

* Al Hassan Industrial Zone (HIZ) exported $133 million in goods in the first eight months of 2002. These exports included textiles and industrial inputs. The zone's exports are scheduled to reach $280 million by 31 December. Last year, the zone exported goods worth $273 million. Meanwhile, Amer Al Majali, general-director of the Jordan Industrial Estates Corp, noted that local industrial estates in the Kingdom host around 460 companies with some $1.61 billion in investments. These estates, which differ from the qualified industrial zones, exported goods for 2002 worth $408 million. Around 33,000 Jordanians work in these estates.

* Financial reserves at the Central Bank of Jordan (CBJ) stood in July at JD 2.365 billion, an increase by more than JD 550 million from December 2001. A statement by the Ministry of Finance revealed that the budget deficit in the first eight months of 2002 reached JD 224.7 million. This is almost a 90 percent rise over the same period of 2001. Jordan's debts, both foreign and local, are worth JD 5.05 billion, about 75 percent of the GDP. The government made JD 1.22 billion in revenues this year, a one percent rise from 2001.

* Syria and Jordan agreed on forming a joint council of businessmen to conduct the mutual investments in both countries. The council is governed by the chambers of commerce in Amman and Damascus. Its activities will mainly focus on enhancing trade and joint ventures between the private sectors in both countries. Trade volume between Jordan and Syria was worth JD 50 million in the first half of 2002 and is expected to double by the end of the year.

* Mirsal, Jordan's leading paging services provider, will operate a new nation-wide digital network worth $75 million in 2004. The five-year project aims to enhance the new network to cover all of Jordan and provide services primarily for governmental institutions, cargo companies, aviation companies and police stations. The first phase of the investment is worth $47 million. This network is the second of its kind in the region; services are expected in Saudi Arabia the following. Morocco was the first country to provide these services.

* Development projects in Jerash for 2002 are worth JD 13 million. Only 15 percent of these projects were completed. Criticism and complaints were heard recently among Jordanians living in the city urging the government to accelerate the implementation of these projects to enhance the social and economic development in the area. The unemployment rate of the governorate is estimated at 60 percent.

* Over the last 10 months, the US Agency for International Development (USAID) in Jordan made 47 exporting agreements to the US worth $7 million, serving some 220 small/medium enterprises. These agreements enhanced local sales by $21 million and national exports by $52.3 million. This year, the USAID launched the Social-Economic Productivity Enhancement program promoting sustainable development for the low-income citizens of Jordan.

The Star

Some Marks
To see in Jordan
Fairs & Exhibitions
Useful Addresses
Media of 1stjordan
Impact of 1stjordan
The 'First Jordan' Card
Press Book
Exotica - Flowers - Shopping on line
Engineering Consultants Lebanon
Nsouli Jewelry Lebanon
Hotel Beirut Lebanon
Rent Villas France for Holidays, Seasonal Rentals France
Sole Agent for Philips & Whirlpool in Lebanon
Arab Printing Press Lebanon
Hotel Beirut Lebanon
Arabic Music, CD Arabia
Hotels Syria
Groupe PMR