Bahraini investments in Jordan reach more than $1bn

AMMAN: Bahraini investments in Jordan now total about $1.2 billion, according to a recent report by the Amman Chamber of Commerce.
As of the end of April, Bahrain was ranked fourth among foreign investors on the Amman Stock Exchange, Jordan News Agency reported.
While trade between Jordan and Bahrain experienced a slight downturn in 2023, totaling JD92 million ($129 million) compared with JD136 million in 2022, Jordanian exports to Bahrain increased modestly from JD45.9 million to JD47.9 million.
However, Bahraini exports to Jordan dropped significantly from JD90.1 million to JD44.3 million during the same period.
In the first two months of 2024, bilateral trade amounted to JD10.6 million, comprising JD5.8 million in exports and JD4.8 million in imports.
Bahrain and Jordan have signed several cooperation agreements in various sectors to bolster trade exchange, establish free trade zones, form joint business councils, and facilitate collaboration between entities such as the Bahrain Chamber of Commerce and Industry, the Federation of Jordanian Chambers of Commerce, and the Amman Chamber of Industry.
In addition, measures have been implemented to combat tax evasion through agreements on double taxation avoidance concerning capital taxes.
As of May 4, the ACC has registered 24 Bahraini partners with a collective stake of approximately JD553 million.
Among these, 12 partners operate in the services and consulting sector, holding a stake of JD392 million, while five are involved in the communications and information technology sector, with a total stake of JD54 million.
Three partners are engaged in the financial and banking sector (JD18 million), one in construction and building materials (JD79 million), one in the food sector (JD5 million), one in furniture (JD6 million), and one in health and pharmaceuticals (JD50,000).
In February 2023, Jordan, the UAE, Egypt and Bahrain signed 12 agreements during the third meeting of the Higher Committee for the Integrated Industrial Partnership for Sustainable Economic Development.
These agreements, collectively valued at approximately $2 billion, encompass sectors including agriculture, medicine, metals, chemicals, electric vehicles and waste management.
The committee unveiled nine comprehensive industrial projects, with investment exceeding $2 billion, with the objective of enhancing domestic production in partner countries by more than $1.6 billion.
These projects are expected to generate approximately 13,000 direct and indirect employment opportunities in the four countries.