JORDAN Bryan Treherne – Thomas Bernard24thSeptember 2014
KEY FACTS OF JORDAN Location: Bordered by Saudi Arabia to the south and east, Iraq to the north-east, Syria to the north, and Palestine, the Dead Sea and Israel to the west, Jordan, officially the Hashemite Kingdom of Jordan is an Arab kingdom in Western Asia extending into the historic region of Palestine.
KEY FACTS OF JORDAN Map:
KEY FACTS OF JORDAN Population:7,930,490 (78% living in urban areas) Area: 92 300 km2 Religion:around 92% Sunni Muslim Arab; 6% Christian Arabs Capital:Amman with 2 m population Currency: Jordanian dinar (JOD) (1 Jordanian Dinar equals 0.82 British Pound Sterling) Languages:Arabic (official), English (widely understood among upper and middle classes)
GENERAL INFORMATION Climate:varies according to height but Amman around 40 degrees C in Summer and can freeze and snow in Winter. Labour force: agriculture (2.7%) industry (20%) services (77.4%) Imports: $18.61 billion Exports: $7.914 billion GDP per capita:about $5,000 ($38,919.60 in UK)
GENERAL INFORMATION Government: constitutional monarchy with King appointing the Prime Minister and together they appoint the Cabinet. Current King Abdullah was educated at Oxford and Sandhurst.
ECONOMY UKTI in Jordan helps companies in Britain increase their competitiveness through overseas trade in Jordan The British Embassy in Jordan works to boost the UK’s reputation as a place to do business, to broker commercial partnerships and to increase Jordanian inward investment in UK companies and projects.
ECONOMY Bedouin tribe culture very influential in modern day politics and public sector. Palestinians dominate private sector business. Main industries:Clothing, Phosphate Mining, Fertilizers, Pharmaceuticals, Petroleum Refining, Cement, Potash, Inorganic Chemicals, Light Manufacturing and Tourism (also very important with Petra, Dead Sea area which is important for international conferences,Red Sea, many sites of historic and biblical significance)
ECONOMY Exports: $7.914 billion (2013 est.) Export commodities:clothing, fertilizers, potash, phosphates, vegetables, pharmaceuticals. Main export partners:US (16.6%), Iraq (15.1%), Saudi Arabia (11%), India (10.5%), Indonesia (4.2%) (2012 est.) UK : < 0.85%
ECONOMY Imports:$18.61 billion (2013 est.) Import commodities:crude oil, machinery, transport equipment, iron, cereals. Main import partners : Saudi Arabia (23.6%), China (9.4%), US (6.7%), Italy (4.7%), Turkey (4.6%) (2012 est.) UK : 1.4%
ADVANTAGES OF DOING BUSINESS IN JORDAN - a UK/Jordan Double Taxation Convention from March 2002 - English is widely spoken and accepted as the language of business - political stability and security - well respected Central Bank and a strong banking system - robust economic growth - a strategic and central location
ADVANTAGES OF DOING BUSINESS IN JORDAN - labour force is well educated with literacy rates of over 90% - labour costs remain amongst the most competitive in the Middle East - 100% foreign investment is allowed in most industries - 6 Special Economic Zones established – most advanced in Aquaba - UK products are well regarded for their quality and reliability – but increasing competition from Asia and other regional markets
OPPORTUNITIES Healthcare: Jordan is recognised throughout the region as a leader in the provision of healthcare. Existing hospitals are currently expanding and renovating their facilities, while new private and public sector facilities continue to be established. Opportunities for UK businesses include: ICT in healthcare, renovation and expansion of existing hospitals, creation of specialist centers, co-operation between UK and Jordanian hospitals, latest technologies in equipment, software and tools.
OPPORTUNITIES Healthcare: Jordan has invested a lot of money in order to become a hot spot for medical tourism in the Middle East which is not a surprise because the government has made it simple and fast to obtain a visa at the airport. A free shuttle service from the airport is available to some private hospitals. For example : Low-cost dental implants in Jordan
OPPORTUNITIES ICT: the third largest contributor to Jordan’s economy, with revenues accounting for 14% of total gross domestic product (GDP). Opportunities for UK businesses include: outsourcing, telecommunications, e-health e-health: emerging field in the intersection of medical informatics, public health and business, referring to health services and information delivered or enhanced through the Internet and related technologies
OPPORTUNITIES Energy:Jordan’s energy sector is rapidly developing to meet government targets. These are designed to reduce the country’s reliance on external energy sources (oil import) and introduce more widespread use of renewable energy. Jordan has set out plans to have a fully operational nuclear power facility by 2020 Opportunities for UK businesses include:direct investments in the renewable energy projects, solar and wind, energy savings products.
OPPORTUNITIES Education and training:represents a major source of investment, with more than 70% of Jordan’s population under the age of 30 and a relatively high population growth rate. Opportunities are available for general collaborations but more specific collaborations include opportunities for Research and Development (water, energy, food, security, health). Opportunities for UK companies include: educational software, Arabic translation of English content for regional markets, English teaching, accreditation, teacher training, development of skills and personal development.
REASONS TO INVEST Jordan has a strategic position at the heart of the Levant. It is politically stable, with an open business environment. The region attracts more £1 billion worth of UK exports. Sizeable contracts have been signed with Shell that has greatly boosted bilateral trade. Jordanians are always keen to do business with UK companies.
REASONS TO INVEST There are a lot of benefits for UK businesses exporting to Jordan which are : - English is widely used as the business language - a number of trade agreements with the European Union (EU) - multi-cultural society
USEFUL CONTACTS - Sarah Hildersley - Head of UK Trade and Investment Jordan - British Embassy - Damascus Street - Abdoun - PO Box 87 - Amman 11118 - Email: email@example.com They have 6 staff in Amman dedicated to helping British exporters win business in Jordan.
USEFUL CONTACTS Mr Issa Gammoh, Acting CEO Jordan Investment Board PO Box 893 Amman 11821 Jordan Email: firstname.lastname@example.org www.jordaninvestment.com Jordanian Embassy in UK 6 Upper PhillmoreGdns Kensington London W8 7HB www.jordanembassyuk.gov.jo
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