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Local Textile Sector Eyes Global Expansion Amid Economic Reform Push
(MENAFN- Jordan News Agency)
Amman, April 2 (Petra) -- Jordan's apparel and textile industry is capitalizing on the nation's Economic Modernization Vision, positioning itself as a strategic hub for high-value manufacturing. With strong royal backing, the sector is making significant strides in achieving its ambitious growth targets.
Industry representative Ihab Qadri, speaking to Petra News Agency, outlined key objectives: creating over 149,000 jobs, boosting value-added by 10% annually to $1.8 billion by 2033, and driving exports to $5.5 billion. The sector also aims to attract $3.1 billion in foreign direct investment (FDI).
Key initiatives include strengthening supply chains, developing integrated manufacturing clusters, investing in workforce training, and fostering collaboration between SMEs and large enterprises. The sector, comprising 1,000 registered companies, is seen as a crucial driver of Jordan's economic diversification.
A feasibility study for an integrated industrial alliance, designed to attract further investment and streamline operations, has been completed. Regulatory reforms and policy adjustments are also underway to improve the business climate.
Jordan's National Apparel & Textile Sector Strategy aims to establish the country as a regional leader in high-quality, agile manufacturing, adhering to international standards for sustainability and efficiency.
Customs law amendments are facilitating raw material imports from development zones, enhancing value-added and reducing operational bottlenecks.
The sector currently employs over 90,000 workers, with 29,000 being local hires. Over 2,000 new jobs were created in 2024 alone.
Exports surged to 1.753 billion dinars in 2024, a 24% year-on-year increase, driven by strong demand, particularly from the US market. Diversification efforts have expanded market reach to include Canada, Europe, and the Gulf region.
Apparel exports, representing 95% of total exports, reached $1.664 billion in 2024, a 25% increase. This underscores the sector's growing international competitiveness.
Increased FDI, driven by improved business conditions and the modernization vision, is leading to new manufacturing facilities and expanded operations.
Plans are underway to establish an integrated industrial alliance to further attract investment and promote sector-wide growth.
Amman, April 2 (Petra) -- Jordan's apparel and textile industry is capitalizing on the nation's Economic Modernization Vision, positioning itself as a strategic hub for high-value manufacturing. With strong royal backing, the sector is making significant strides in achieving its ambitious growth targets.
Industry representative Ihab Qadri, speaking to Petra News Agency, outlined key objectives: creating over 149,000 jobs, boosting value-added by 10% annually to $1.8 billion by 2033, and driving exports to $5.5 billion. The sector also aims to attract $3.1 billion in foreign direct investment (FDI).
Key initiatives include strengthening supply chains, developing integrated manufacturing clusters, investing in workforce training, and fostering collaboration between SMEs and large enterprises. The sector, comprising 1,000 registered companies, is seen as a crucial driver of Jordan's economic diversification.
A feasibility study for an integrated industrial alliance, designed to attract further investment and streamline operations, has been completed. Regulatory reforms and policy adjustments are also underway to improve the business climate.
Jordan's National Apparel & Textile Sector Strategy aims to establish the country as a regional leader in high-quality, agile manufacturing, adhering to international standards for sustainability and efficiency.
Customs law amendments are facilitating raw material imports from development zones, enhancing value-added and reducing operational bottlenecks.
The sector currently employs over 90,000 workers, with 29,000 being local hires. Over 2,000 new jobs were created in 2024 alone.
Exports surged to 1.753 billion dinars in 2024, a 24% year-on-year increase, driven by strong demand, particularly from the US market. Diversification efforts have expanded market reach to include Canada, Europe, and the Gulf region.
Apparel exports, representing 95% of total exports, reached $1.664 billion in 2024, a 25% increase. This underscores the sector's growing international competitiveness.
Increased FDI, driven by improved business conditions and the modernization vision, is leading to new manufacturing facilities and expanded operations.
Plans are underway to establish an integrated industrial alliance to further attract investment and promote sector-wide growth.
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