(MENAFN- Jordan News Agency)
Amman, Sep. 8 (Petra) -- Al-Muwaqar Industrial City is set to welcome a new JD3 million
investment in the
Pharmaceutical sector, according to a statement by the Jordan Industrial Estates Company.
The investment, which will focus on producing human medicines and personal care products, is expected to create approximately 40 jobs for Jordanian workers in its initial production phase.
The agreement was signed by Omar Juwaid, Director General of the Jordan Industrial Estates Company, alongside Rasha Sobhi Al-Eid from Jazz Pharmaceuticals and Jamil Anz, representing the Small and Medium Enterprise Investment Fund.
Juwaid emphasized the pivotal role of industrial investment in driving the development of Jordan's industrial estates, highlighting their contribution to the national economy. He noted that the estates currently host around 915 operational companies across various production sectors, employing nearly 60,000 people and generating exports exceeding JD3 billion annually to markets worldwide.
"This new investment reinforces the growth of Jordan's industrial sector, particularly in Al-Muwaqar Industrial City, which has already attracted 96 industrial ventures with a combined investment of JD632 million, providing around 5,000 jobs," Juwaid stated.
Al-Eid explained that Jazz Pharmaceuticals' decision to invest in Al-Muwaqar Industrial City stems from the city's investor-friendly environment, which offers attractive incentives and tax exemptions for industrial projects.
"Jazz Pharmaceuticals is the result of a successful partnership with the Small and Medium Enterprise Investment Fund," Al-Eid said, adding that the new facility, which will span 8,000 square meters of ready-made industrial buildings, is expected to become one of the leading pharmaceutical producers in the Middle East due to the high quality and advanced specifications of its products.
She also highlighted that the company's products will primarily be targeted for export, given the strong demand for its offerings in international markets.
Al-Muwaqar Industrial City, established in 2011 as an extension of King Abdullah II Industrial City in Sahab, was developed in response to growing investment demand. The city is part of a broader network of industrial estates managed by the Jordan Industrial Estates Company, which includes locations in Irbid, Karak, Salt, Madaba, Tafileh, Aqaba, and Zarqa, where the Prime Minister recently laid the foundation stone for the first phase of development.
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