Jordan's industrial sector contributes 21.7pc to GDP

RIYADH, Aug 18 (Arab News): Jordan's industrial sector has made a significant contribution to the nation's economy, accounting for 21.7 per cent of the gross domestic product in the first quarter, data showed.

This achievement highlights the effectiveness of the government's strategic initiatives aimed at bolstering industrial growth and modernization.

Industrial production surged to approximately 10.435 billion Jordanian dinars, or around $14.724 billion, reflecting the progress of the Executive Program for the Economic Modernization Vision. This program is central to Jordan's efforts to enhance its industrial capabilities.

A pivotal component of this initiative is the Industrial Support Fund, which has recently entered its second phase. This phase has attracted 938 applications, with results expected by the end of the year. The fund is designed to provide targeted support to various industrial projects, fostering their development and contribution to the economy.

The pharmaceutical sector has also seen notable advancements. Jordan has approved the 2024 Drug Testing Regulation, which aims to boost the global competitiveness of its pharmaceutical products. This regulation is part of a broader strategy to enhance the industry's presence both within Jordan and on the international stage.