While the Saudi Crown Prince was holding talks with King Abdullah II of Jordan on his second tour after Egypt before moving to Turkey, the Federation of Saudi Chambers of Commerce revealed that the volume of trade exchange between Saudi and Jordan amounted to about 16.6 billion riyals in 2021, compared to 11.6 in 2020. The volume of Saudi investments in Jordan reached $14 billion dollars, via about 900 projects.
Petra news agency reported that King Abdullah II and Prince Mohammed bin Salman affirmed their “pride in the level of historical and solid brotherly relations that bind the two kingdoms and peoples, and their keenness to consolidate them in all fields.”
Petra added that the talks also dealt with ways to enhance economic cooperation, and the sectors in which the Saudi-Jordanian Investment Fund Company can contribute.
Economic Report
An economic report issued by the Federation of Saudi Chambers of Commerce stated that Saudi investment in the Amman Financial Market ranks first among Arab and foreign investments in public shareholding companies listed on the Amman Stock Exchange, with a value of $1.4 billion.
As for Jordanian investments in Saudi, they amounted to $608 million.
The Kingdom is Jordan’s first trading partner and one of the largest investing countries in it. Saudi investments are concentrated in the sectors of tourism, finance, trade, health care, infrastructure, education, logistics, transportation, energy, communications and information technology.
The report considered the establishment of the Saudi-Jordanian Investment Fund as a qualitative leap in promoting joint investments between the two countries by investing in sustainable and economically viable strategic projects in various promising sectors in Jordan.
It noted the role played by the Saudi-Jordanian Business Council of the Federation of Saudi Chambers in promoting trade and investment relations between the two kingdoms and the business sectors, through the activities, events and economic forums it organizes. The Council also pays special attention to the investment opportunities of the Kingdom’s Vision 2030 and how to enable the Jordanian business sector to participate in them.
