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French Version

Business Scene

No imminent increase in fuel price

o Prices of fuel derivatives for the remainder of this year will not be altered according to Minister of Finance Michel Marto. The last increases took place early May this year. Marto indicated that although no price change is foreseen, yet he couldn’t rule out the possibility over the coming years. In the meantime the Japanese and Jordanian governments signed an agreement to reschedule $202 million of the total Jordanian debt to Japan of $1.6 billion. The deal falls into two categories: Firstly, official Japanese development debt and secondly, commercial debt.

Investments falter

o Foreign investments in local companies declined for the first 5 months of this year by 5 percent to JD 8.6 million as compared to JD 12.5 million over the same period last year. Most declines were registered in Arab investments. Iraqi assets were the largest in the Kingdom with JD 1.4 million, followed by Egyptian and Syrian investments with JD 870,000 and JD 795,000 respectively. The number of new companies and individual businesses registered at the Ministry of Industry and Trade also went down by JD 23 million over the same period. About 2136 new companies were established this year with total value of JD 60.5 million. More than half of the new companies were registered as commercial businesses. Meanwhile Saudi investments declined by more than 75 percent over the past 12 months to JD 470,000.

Military funds for housing

o The Military Housing and Works Department invested JD 57 million over the past 18 months. Most of these investments were made in new housing construction, infrastructure renovation and services development. The department, a branch of the Armed Forces, carries out different investments that enhance the social and economic welfare of the army officers. The department established two funds; the first is dedicated for 4000 officers at JD 57 million while the other worth JD 185 million is contributed to other commissioned and noncommissioned officers. The department is currently working on a JD 21 million project at King Hussein Medical City where it will supervise a new hospital for children to be equipped with the latest in medical supplies.

Exporting food to the US

o Jordan Exporters Association (JEA) organizes on June 25 a one-day seminar on the "Requirements for Jordanian food sector in the US markets." The seminar tackles ways to enhance Jordanian food and beverage products in the US. Officials from the US Food and Drug Administration and the US Department of Agriculture will take part in the seminar, which will be held at the Sheraton Hotel in Amman. The JEA sources indicated that some agreements are likely to be signed between local and American food firms on the sidelines of the seminar.

Bottles for soft drinks to Iraq

o Jordanian dealers succeeded earlier this month in tying up a sizeable agreement between the Iraqi and Saudi private sectors. According to the London-based Asharq Alawsat daily, the agreement stipulates exporting 50 million Saudi-made bottles a month to Iraq to be filled with soft drinks. No specific value was given for the deal, but news reports suggested it at more than $20 million. The newspaper indicated that Iraqi businessmen also look for similar deals with other Arab countries, including Jordan, Lebanon and Kuwait. The daily expects an increase in the number of Saudi bottles this summer. According to Saudi officials, Asharq Alawsat reported that Iraq imports 20 percent of the overall Saudi production of bottles.

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Some Marks
To see in Jordan
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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