Investment opportunities at hand in Jordan


24-05-2016 11:30 PM

Ammon News - AMMONNEWS - The Jordanian Commercial Office (JCOTPE) in Taipei serves as a bridge between Taiwan and the Middle Eastern nation of Jordan. Its main role is promoting "the Jordanian economy and investment sector in Taiwan trying to attract Taiwanese investors," along with nurturing cultural ties between Jordan and Taiwan.

Jordan-Taiwan relations date back to the 1950s, and the two countries have traditionally shared close ties and sound economic relations, with "cooperation in many fields."

Located in the heart of the Middle East, Jordan plays an important role as a major manufacturing, tourism, and business center of the Middle East and has strategic importance for maintaining regional stability. Jordan is the key to security in the Middle East. If there are problems in Jordan, the whole area will experience further trouble. But Jordan is a safe and stable country.

Although three times the size of Taiwan, 80 percent of Jordan is desert. Jordan is not rich in natural resources. The country processes and exports a lot of phosphate, which Taiwan imports for industrial needs and manufacturing, along with some foodstuff and agricultural products.

Taiwan's main exports to Jordan are machinery, followed by raw materials for the plastic industry, rubber, and fabrics. In the past, bilateral trade between the two countries was valued at more than US$1 billion. "The amount has decreased to US$350 million with the emergence of China as a superpower. However, cooperation remains strong," said Qussai Bani-Mustafa, director of the JCOTPE.

Tourism is a dynamic element of Jordan's economy, especially with the growing popularity of health and eco-tourism. Jordan has seen the number of five-star chain hotels in the country double over the past decade and has experienced a 90 percent increase in the number of tourists visiting there since 1994, currently over 4.8 million per year.

Visitors flock to world-renowned sites that include the Dead Sea, famous for its therapeutic mineral-laden waters, and Petra, one of the new Seven Wonders of the World. The ancient desert city is one of Jordan's best-known tourist attractions.

Jordan is home to around 100,000 archaeological and tourist sites. Some very well preserved historical cities include Petra and Jerash, the former being Jordan's most popular tourist attraction and an icon of the kingdom. Jordan is part of the Holy Land and has several biblical attractions that draw pilgrims. Biblical sites include; Al-Maghtas, where Jesus was baptized by John the Baptist, Mount Nebo, where Moses looked on to the Promised Land, Umm ar-Rasas, a fortified Roman garrison that contains 16 Byzantine churches, Madaba, which holds the Madaba Map, the oldest mosaic map of the Holy Land, Machaerus, which is a fortified hilltop overlooking the Dead Sea where John the Baptist was imprisoned and executed, and Umm Qais (Gadara), where Jesus is thought to have expelled demons out of a man near the shores of the Sea of Galilee.

Foreign investors have played a key role in developing Jordan's tourism industry. Construction is the most active sector in Jordan, presenting attractive opportunities for international and local investment.

*China Post




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