Jordan

Jordan is a small country with few natural resources, but it has played a pivotal role in the struggle for power in the Middle East. Jordan’s economy is showing encouraging growth potential, while proximity to the unrest in Syria, and instability in neighboring countries, may affect the speed of the country’s development, the future looks promising, as the Jordanian government turns it focus to the development of the country’s infrastructure, fighting against housing deficits and unemployment rates. Whilst Jordan’s GDP per capita positions it as an upper middle-income country, structural reforms are fundamental to the future growth of the economy.

Jordan is a hub for doing business in Iraq. Most of the largest Iraqi companies have their base in Amman and it can be an ideal location to conduct business for foreign companies unable to travel into Iraq. Many foreign companies who operate in Iraq also base their offices in Amman.

Healthcare

Jordan is recognised throughout the region as a leader in the provision of healthcare. Existing hospitals are currently expanding and renovating their facilities, while new private and public sector facilities continue to be established.

The Middle East’s leading cancer centre is based in Jordan’s capital, Amman. Specialist centres for illnesses such as diabetes are increasingly being developed.

Jordan has also been classified as the number one destination in the Middle East for medical tourism and ranks fifth worldwide.

Business opportunities in Jordan

Opportunities for investing businesses in healtcare include:

  • ICT in healthcare
  • renovation and expansion of existing hospitals
  • creation of specialist centers
  • co-operation between foreign and Jordanian hospitals
  • latest technologies in equipment, software and tools

ICT

ICT is the third largest contributor to Jordan’s economy, with revenues accounting for 14% of total gross domestic product (GDP).

Opportunities for businesses include:

  • outsourcing
  • telecommunications
  • e-health
  • ICT solutions

Energy

Jordan’s energy sector is rapidly developing to meet government targets. These are designed to reduce the country’s reliance on external energy sources and introduce more widespread use of renewable energy.

There are also plans to develop the refined products sector which has the potential to make the Kingdom an important location for regional energy integration. Jordan has set out plans to have a fully operational nuclear power facility by 2020 with a generation capacity of 1,000 Mega Watt (MW).

Opportunities for companies include:

  • direct investments in the renewable energy projects; solar and wind
  • energy saving and efficiency products.

Education and training

Education represents a major source of investment, with more than 70% of Jordan’s population under the age of 30 and a relatively high population growth rate.

Both state and private universities are keen on international collaboration agreements with UK universities. Opportunities are available for general collaborations, such as the one with Lancaster University. More specific collaborations include opportunities for Research and Development (R&D), such as Cambridge University Institute of Biotechnology’s recent partnership with a local biotech company.

Opportunities for companies include:

  • educational software
  • Arabic translation of English content for regional markets
  • accreditation
  • teacher training
  • development of skills and personal development

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