Amman: The Ministry of Investment, through the electronic platform Invest in Jordan (invest.jo), has unveiled new investment opportunities in the food industries and tourism sectors, marking the third phase of its efforts to showcase investment prospects in the Kingdom.
These opportunities emerge within Jordan’s new investment trajectory, initiated last year after implementing corrective measures tied to legislation and regulations aligned with the Kingdom’s objectives to enhance the business environment. The initiatives are in harmony with the Economic Modernization Vision.
The introduced investment prospects represent an anticipated total investment exceeding $58 million, contributing to a cumulative 36 investment opportunities on the platform with a total investment volume surpassing $1.4 billion.
Among the offerings are three investment projects in the food industry sector under the Private Sector Partnership (POT) system, allowing the operation and exploitation of state-owned land without rent for a 2
5-year duration. Investors are obligated to pay the state a share fee ranging from 5 to 10 percent of the net annual profits over the same period. The projects include a culinary academy ($7 million investment), a cold storage chain ($25 million investment), and the establishment of a model farm ($430,000 investment).
The culinary academy project, anticipated to cost $7 million with a return rate of 15.2 percent and a payback period of 7 years, is situated on an 81,000-square-meter plot in the Anjara area in Ajloun Governorate. It aims to supply the local market with highly skilled human resources for hotels and restaurants, offering advanced courses in culinary arts and basic courses for high school graduates. Graduates will receive Ministry of Higher Education-accredited certificates, qualifying them for employment in the local and foreign tourism sector.
The cold storage chain project entails establishing a logistics services company specializing in exporting fresh products and providing cold storage cha
in network services. The platform anticipates an internal rate of return of approximately 11.5 percent and a payback period of 9 years. This opportunity is expected to serve about 50 percent of the Jordanian export market while maintaining high product quality. The project includes the establishment of five regional centers in five regional centers in Karak, Irbid, Madaba or Amman (depending on the choice of location), Balqa and Mafraq and close collaboration with local farmers, exporters, and stakeholders to ensure project success.
For the model farm project, the platform forecasts an internal rate of return of about 23.9 percent and a payback period of 5 years. This initiative involves cultivating multiple crops of medicinal, aromatic, and leafy herbs on a 100-dunum plot of state-owned land in Ajloun Governorate, encompassing varieties like thyme, sage, cumin, and saffron.
This investment opportunity aligns seamlessly with the contract farming system, as defined by the Food and Agriculture Organization (F
AO). Contract farming, an agricultural production system, operates under an agreement between a buyer or marketer and farmers. According to the agreement, the farmer commits to supplying agreed-upon quantities of a specific agricultural product meeting the quality standards specified by the buyer, such as the cultivation of saffron and thyme.
The ministry has also unveiled three investment projects in the tourism sector, comprising a tourist village with an anticipated investment of approximately $20 million, the rehabilitation and utilization of the southern village of Deir Al-Samadiyya with an expected investment of around $4 million, and the establishment of Ajloun National Park with an anticipated investment of about $5 million.
In the Sakhrah area, the first project involves establishing an agricultural tourism village integrated with surrounding agricultural areas, taking advantage of the region’s characteristics conducive to agricultural tourism. Positioned within the comprehensive plan for Ajloun Go
vernorate, connecting Jordan Street and the development corridor, this project encompasses three plots, with an expected investment volume of about $20 million. It aims to contribute to the area’s development, provide new job opportunities, and enhance income for the local community.
The second project focuses on the rehabilitation and use of the southern village of Deir Al-Samadiyya as a unique agricultural heritage tourism destination. Emphasizing the reuse of heritage houses and backyards for heritage and agricultural tourism activities, the project envisions offering bedrooms with the concept of “Bed and Breakfast” to showcase the rural lifestyle of the nineteenth century.
With an expected investment volume of $1.4 million, the project spans various plots owned by citizens, totaling 10,255 square meters, with a utilized area of 6,637 square meters. This project aims to convey the local experience from the late nineteenth century to the early twentieth century, allowing visitors to immerse themselves in
rural peasant life. The experience includes harvesting crops, cooking local dishes, and engaging in traditions and handicrafts through interaction with local residents, educating tourists about the history of Ajloun and the region.
The third project, “Ajloun National Park,” encompasses an environmental park, family and environmental trip sites, and forest picnic areas with essential services. With an expected investment of $5 million and an estimated internal rate of return of 14.5 percent, the park is located in Ajloun within the Al Sawan Development Area, encompassing Plot No. 22 (137,000 square meters) and Plot No. 214 (290,000 square meters) from the Al Sawan Basin, both of which are state-owned lands. Additionally, a section of Plot No. 36, measuring 11,000 square meters and holding the Ajloun cable car starting station, is allocated for the State Treasury/Haraj. Notably, the site boasts captivating and unique panoramic views, distinguished by its vantage point overlooking the castle, forests, and the d
ense oak tree landscape.
The park’s activities and events will focus on the rocky area by preserving existing trees and utilizing vegetation for camping and adventure activities. The project is expected to create numerous job opportunities, especially for the people of Ajloun.
It’s worth noting that the Ministry of Investment launched the (invest.jo) platform in July to align with the general investment policy and serve as a tool for the promotion strategy for the years 2023-2026. The strategy aims to focus on promising sectors and specific markets to increase investments in sectors with high added value, contributing to development, and providing job opportunities for Jordanians, in line with the goals of the Economic Modernization Vision 2033.
Source: Jordan News Agency