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French Version

Business Scene

* Jordanís economic reforms are moving steadily despite the slowness in some of the economic sectors in Jordan. Sources at the Prime Ministry indicated this week the economic reforms are a long-term process and aim to enhance the social and economic development in the Kingdom.

The sources, however, denied economic reforms will relinquish the governmentís role and direction in carrying out the reforms. They said the privatization program is part of the economic reforms that will transform the governmentís rule from a governing body to a supervisory one. The government, meanwhile, launched a fixing plan with the International Monetary Fund to emend the structural abnormality in public institutions. The plan also aims at adjusting the balance of payments to control the inflation rates in the Kingdom.

* The value of checks rejected by Jordanian banks increased this year to more than JD 408.8 million. Statistics by the Central Bank show the value of bad checks made about 4 percent of JD 10.76 billion, in written checks in the first 10 months of 2002. Statistics indicated JD 42.3 million were rejected in bad checks in October alone. Economists said the rise in the value of bad checks illustrates the recession that is affecting the local economy.

* Speaking of the Central Bank, statistics show the bank holds JD 4.8 billion in assets. About JD 3.7 billion of these assets are foreign. Gold resources are JD 95 million, while the bankís assets of cash and accounts in foreign currencies are JD 1.46 billion.

* The Kingdom is expected to earn this year more than JD 600 million in revenues from treatment of Arab patients in Jordanian hospitals. Dr Ratib Hinnawi, director of the Arab Patients Affairs Bureau at the Ministry of Health, said the medical sector in Jordan enjoys a good reputation among Arab nations, a fact that enhances the medical services in the Kingdom. Hinnawi noted about 50 percent of the enlisted patients in Jordanís private hospitals are Arabs and most of these patients are treated for heart diseases. Ministry of Health provided lately special services for Arab patients that facilitate their presence in Jordan during their medication.

* Jordanís exports of chemicals increased in the first seven months of this year by JD 38.3 million to JD 219.6 million. About 40 percent of these exports are pharmaceuticals, at JD 90 million. Fertilizers come next with JD 34.5 million. Jordanian chemicals include parfumes, cosmetics and cleaning compounds. Jordanís imports of chemicals also increased this year by 12.5 percent to JD 230 million.

* Trade volume between Jordan and the Philippines was $17 million in 2001. These exports are expected to double by 2004. A Filipino economic delegation visited Jordan last week and explored ways to enhance bilateral trade relations and joint investments. The Filipino businessmen also probed the potentials in the Aqaba Special Economic Zone, where the businessmen said they are looking for establishing industrial and IT-related investments there. The visit by the Filipino delegation is part of its tour in the region to enhance economic relations between the Philippines and the Arab countries.

* The Montreal Fund is funding Jordanian investments worth $1.13 million. These investments are environment-friendly businesses and aim to eliminate all the materials that exhaust the ozone layer in the atmosphere. According to the fund, Jordan succeeded in eliminating 80 percent of these materials in the recent years. Jordan was elected in November as a representative of Asia countries in the fund.

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