Future Economic Growth Strategy
One of the two strategic pillars of the Economic Modernisation Vision is unleashing the full economic potential of Jordan over the coming decade, and focusing on emerging and high-growth potential sectors, which will lead to increased economic opportunities for citizens. This is outlined by three key economic strategic goals of the Vision, which are creating income-generating opportunities for citizens, enhancing the real capita per income, and improving Jordan’s ranking in the WEF Global Competitiveness Index.
Economic Growth Pillar Guidelines
To unleash the full potential of Jordan’s economy, the economic growth pillar is built on 8 guiding principles
Focus
Strategic growth engines at the center of our roadmap
Competitiveness
Utilizing our national advantages regionally and domestically
Alignment
Full match between skills demand and supply
Investments
Investment roadmap to stimulate growth
Exports
International markets driving growth
Linkages
Leveraging synergies across sectors, strength through network and value chains
Innovation
Tech-enabled economy and entrepreneurship
Inclusiveness
Economic growth linked to quality of life
Economic Growth Pillar Goals
Create Economic Opportunities for Jordanians
Objectives
- Increase the number of jobs
- Reduce unemployment among Jordanians
- Reduce expat workforce
- At least double female economic participation
- Increase employment in the private sector
- Expand and upgrade technical and vocational education and training
Create Sustainable and Inclusive Economic Growth
Objectives
- Increase the average per capita income
- Grow the economy
- Diversify the economy
- Scale up/grow potential growth sectors
- Grow exports
- Increase direct foreign investment
- Increase domestic private investments
Strengthen Jordan’s International Competitiveness
Objectives
- Enhance Jordan's international competitiveness
- Enhance ease of doing business
- Match skills demand and supply
- Promote R&D and innovation
- Promote entrepreneurship
- Enhance quality of Jordan's infrastructure
- Enhance FDI attractiveness
- Curb corruption perception
- Improve international IP protection
- Reduce electricity prices for economic activities
- Promote industrialization
- Advance economic freedom
- Improve gender gap in workforce
- Advance female economic empowerment
- Improve educational base and knowledge pool
- Develop a globally competitive workforce
- Enhance transport and logistics
- Improve government effectiveness
- Enhance the rule of law for business environment
- Develop digital and transparent government services
- Improve governance
- Enhance SME enabling environment
Economic Growth Priorities
The economic growth priorities of the Economic Modernisation Vision are based on five growth drivers, owing to the interdependence among them
High Value Industries
- Agriculture & Food Security
- Mining
- Food products
- Chemical products
- Pharmaceuticals
- Textile products
- Engineered products
- Logistics
Smart Jordan
- Early Childhood Development (ECD)
- Basic and Secondary Education (K-12)
- Higher Education
- Technical and Vocational Education and Training (TVET)
- Entrepreneurship
- R&D and Innovation
Future Services
- ICT services
- Creative industries
- Financial services
- Healthcare
- Retail, Trade and E-Commerce
- Transport and Mobility
Destination Jordan
- Culture & nature/ adventure tourism
- Medical & wellness tourism
- Faith tourism
- Specialized Tourism
- Film production tourism
Sustainable Resources
- Energy
- Water
Vision Funding Sources
An overall investment of about JD 41 billion is required to achieve the Vision’s goals, with the majority driven by private investments (72%) coming from both domestic and foreign investments and public-private partnerships.
