Growth this year is expected to be driven by a recovery in exports and a revival in tourism. Funding from the London initiative should also help finance the current account and maintain reserves at an adequate level. While there is a large untapped export potential in Jordan’s agricultural sector, another budding growth area is in coding.
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Since its launch in April 2016, Vision 2030 has had a mixed record of achieving its ambitious goals. Crown Prince Mohammad bin Salman (MBS) has been able to launch some aspects of the agenda, such as cultural and social reforms, with dizzying spread and little resistance.
Growth this year is expected to be driven by a recovery in exports and a revival in tourism. Funding from the London initiative should also help finance the current account and maintain reserves at an adequate level.
In the wake of ride-hailing applications gaining popularity worldwide and across the region, Jordan’s regulators have struggled to find appropriate measures to regulate the industry while safeguarding public transportation and maintaining healthy competition at a time where everyone has become heavily accustomed to procuring services at a touch of a button.
In a world in which persons and assets can easily be moved across borders, the concept of the recognition and enforcement of foreign judgments is necessary to make it stricter for losing defendants to avoid liability.
To serve the growing demand for Shariah compliant financing in the Middle East, Jordan-based Ethmar for Islamic Microfinance is planning to expand in the region within the next three to five years and is seeking funding to achieve its project.
A Jordanian wind farm project is getting an Islamic finance touch, the latest combination of Shariah compliant and green financing packaged for the Kingdom as it scales up renewable energy production in a bid to power up its stagnating economy.
Growing in influence, Jordan is a market to be reckoned with when it comes to new opportunities in the Islamic space, and the brand new IFN Jordan Forum will be the main avenue to explore such opportunities.