The future of Aqaba’s economy depends partly upon the development of its transport infrastructure, with industry and tourism reliant on the effectiveness of transport links. And as the Gulf of Aqaba’s largest city and Jordan’s only seaport, the implications of its trans-port industry spreads well beyond the local economy.
Faced with a number of external shocks in recent years, Jordan’s economy has shown a remarkable resilience in dealing with successive challenges. The Hashemite Kingdom has continued to grow in a recession-hit and risk-averse climate, and the government is demonstrat-ing a determination to tackle longstanding structural reforms. The...
In 2012, faced with a range of major economic chal-lenges, the Jordanian government began implement-ing a new macroeconomic programme. This aimed at reducing the kingdom’s vulnerability to external shocks, particularly in the realm of energy prices and supply, while also seeking a fair distribution of the burdens that the fiscal deficit was...
To many regional investors, Jordan’s neighbour to the north-east – Iraq – has long been a glittering, if elu-sive, prize. With the world’s largest proven oil reserves at 350bn barrels and a population of 33m, Iraq is a major market on Jordan’s doorstep. Yet years of conflict and occupation have made steady nerves a requirement. For many years...
In 1995 Jordan’s parliament passed the Investment Pro-motion Law, a wide-ranging instrument aimed at attracting foreign and domestic interest to key sec-tors. In 2000 the law was amended, giving priority to eight areas of the economy and to two sub-sectors, with investments in these fields receiving benefits that ranged from tax incentives to...
The past several years have seen significant changes in Jordan, with protests, constitutional reforms and most recently, elections held in early 2013 all reshap-ing the country’s political landscape. While it is still very much a work in progress, King Abdullah II bin Al Hussein has called for a move to a political system in which an elected...
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