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Building bridges with EU: Key to Jordan’s future, says Qaryouti

By : Nedal Zubeidi

Jordan Daily – Jordan is set to strengthen its ties with the 27 member countries of the European Union, presenting a significant chance to boost its trade balance and attract foreign direct investment (FDI), stated Mohammed Ali Qaryouti, a board member of the Jordan-Europe Business Association (JEBA) and the Jordan Economic Forum (JEF).

“This is a very important opportunity for Jordan,” Qaryouti told Jordan Daily during the EU-Jordan Business Forum held in Amman on Tuesday. “This will significantly enhance FDI in Jordan.”

The forum, which centered on Jordan’s modernization Vision, underscored the nation’s potential in sectors like digital technology and green energy. Qaryouti highlighted, “Jordan offers great investment opportunities in these sectors.” and lots of opportunities in other sectors as well.

With Jordan’s youth human capital considering 70% of its population under 30 years old, Jordan is looking ahead. “We are preparing for the next generation, for the next 100 years,” Qaryouti said. “Jordan is an attractive market for investors.”

Despite its small market size, Qaryouti noted, Jordan has a strong financial sector and a global network. The country’s banking assets exceed JD 66 billion, and its foreign reserves, covering over eight months of imports, surpass $18 billion.

Qaryouti, an investor and investment advisor, emphasized the stability of the Jordanian dinar and the country’s low dollarization rate of 17%. “Investors need assurance that their investments will retain value in Jordan,” he said.

He also stressed the importance of Jordan’s credit ratings from international agencies like Moody’s, S&P and Fitch. “Credit ratings are crucial for investors as they indicate stability,” Qaryouti explained.

With an open market and an extensive network of flights, particularly with the EU, Jordan is well-positioned for trade, travel, and supply chain operations. Qaryouti concluded, “This relationship is the future. This forum is vital in strengthening our ties.”

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