Jordan- Investments increase in Q1 despite regional turmoil 

(MENAFN - Jordan Times) Foreign and local investments rose by 34 per cent during the first quarter of this year despite regional turmoil, according to the Jordan Investment Board (JIB) figures.

The figures, released Wednesday, showed that the volume of investments that benefited from incentives went up during the January-March period of this year to JD298.6 million from JD221.6 million during the same period of 2011.

An official at the JIB attributed the growth in investment inflows to the Kingdom's ability to avoid the repercussions of instability in the region as well as recovery from global economic downturn.

The official, who preferred not remain unnamed, expected investment flows to continue to increase this year.

Jordanian businesspeople represented around 50 per cent of the overall investments that benefited from investment promotion laws, according to the figures, which indicated that schemes worth of JD149 million will be carried out by Jordanian investors.

According to JIB, the industrial sector attracted the majority of investments, with projects estimated at JD255 million, which is over 85 per cent of the total investment volume during the first three months of the year.

The hotels sector came second with projects worth of nearly JD20 million, while around JD15 million is expected to be invested in the amusement parks industry.

The agricultural sector attracted investments of JD2 million, while investments in the health sector are about JD4 million, according to the board.