Doing Business With Jordan

Between 2000 and 2002 GDP growth in Jordan exceeded that of any of its neighbours, and is projected to grow by 5 per cent in 2004. Per capita income has continued to grow, official gross foreign exchange reserves have reached their highest ever level and inflation remains low. Recently implemented economic reform policies, which include encouragement of international participation in the Kingdom, have resulted in a number of marked benefits for Jordan. An enhanced export performance, driven by exports from the Qualified Industrial Zones, especially to the United States of America, with whom a free trade agreement has been implemented, has resulted in an improved balance of payments position. Privatization of many formerly state controlled businesses, and especially of Jordan Telecommunications Corporation, has resulted in substantial revenues to the national treasury. Foreign direct investment, especially but by no means exclusively in the information technology sector, has continued to grow and is projected to rise further in the coming years. Furthermore, Jordan is playing an enhanced role as a hub for trade with Iraq.