Purchase OBG Publications

The kingdom faced a number of major political and economic challenges in 2011, including high unemployment, rising inflation and a $2bn budget deficit. Furthermore, like many other countries in the Middle East, Jordan is currently in the midst of a series of potentially transformative political reforms brought about by the Arab Spring protests in early 2011. Unlike many of its neighbours, however, Jordan has remained relatively stable, both politically and socially. Moreover, Jordan’s strategic regional importance is becoming increasingly evident. The Gulf economies stand to benefit substantially from Jordan’s close trade and political relationships with leading Western economies. The kingdom’s free trade agreement with the US, for example, could potentially be used as a conduit to boost Gulf exports to the lucrative American market. This chapter includes a viewpoint with King Abdullah II; Nouri Al Maliki, the Prime Minister of Iraq; and John Kerry, US Senator and Chairman of the Senate Foreign Relations Committee.

Along with Ali Sharif Zu’bi Advocates and Legal Consultants, OBG reviews the kingdom’s legal framework and the various structures and incentives established to help foreign companies. This chapter includes an interview with Khaled Asfour, Managing Partner at Ali Sharif Zu’bi Advocates and Legal Consultants.

With Ernst & Young, OBG looks at some of Jordan’s significant economic reforms, many of which were designed to stimulate growth and increase the flow of foreign direct investment into the country. In addition to details of corporate and personal income tax, this chapter includes a viewpoint with Bishr Baker, Managing Partner at Ernst & Young, Jordan and Iraq.

The state plays a central role in the Jordanian media industry, operating three of the country’s major TV channels and owning several newspaper publishers. However, private schemes flourish as well and operate most of the radio stations in the kingdom. Television is the dominant form of media by audience, but the local television industry remains weak compared with pan-Arab and regional stations. This dominance is arguably now under threat: Jordan has seen internet penetration rise rapidly in recent years, which has translated into a boom in online media consumption. Moreover, this has been aided by the proliferation of 3G networks that bring internet connectivity to mobile devices. Going forward, the future profitability of the sector will depend heavily on the fortunes of the advertising market, which, in turn, will depend on the performance of the broader economy. This chapter includes an interview with Yousef Shamoun, CEO and Co-Founder of Akhtaboot.