By : Nedal Zubeidi
Jordan Daily – Jordan must urgently shift from managing crises to building a future-oriented economy, with sweeping reforms needed to attract investments, create jobs and reduce reliance on imports, Eng. Abed Al-Rahim Boucai said.
Boucai, Chairman of the board of Jordan Petroleum Refinery Company, warned in an article seen by Jordan Daily, that public debt has climbed above 110% of gross domestic product, budget deficits remain chronic, and unemployment is nearing 25%, hitting youth and women hardest. Foreign direct investment is declining, he noted, citing bureaucracy, shifting legislation and the lack of a stable economic vision.
Boucai, a former member of parliament, called for a unified investment authority with full executive powers and a digital platform to speed up procedures. He said projects such as the planned Iraq-Jordan oil pipeline could reduce energy costs for Jordan while giving Iraq a secure export route to the Red Sea.
He urged the country to move beyond its role as a small consumer market dependent on imports, instead building value-added industries and smart agriculture that use technology to save water and boost output. Reopening the border with Syria, he said, would revive regional trade and restore Jordan’s role as a logistics hub.
Restructuring education and vocational training to match labor market needs is critical, Boucai said, pointing to Germany’s dual education model as an example. Stronger partnerships between universities and the private sector would help address high joblessness among graduates.
High energy costs continue to weigh on industry. Boucai said Jordan must invest further in solar and wind power and expand regional electricity links to ensure cheaper, more reliable supplies.
He pointed out Jordan needs a binding 10-year economic plan with clear performance indicators, accountable to parliament and the public, similar to strategies that helped Singapore and Estonia sustain growth.
“Jordan has the location, stability and human capital,” Boucai said. “What is needed now is decisive political will and investment in productive sectors.”
