Amman, Nov. 29 (Petra) – Economists say His Majesty King Abdullah’s recent tour of key Asian economies and subsequent meetings on economic modernization and investment mark a decisive shift in efforts to reorient Jordan’s economic strategy and accelerate reforms.

Experts interviewed by the Jordan News Agency (Petra) said the King’s interventions have consistently served as a catalyst for mobilizing state institutions, enabling Jordan to move faster in pursuing new markets, attracting foreign capital and adapting to global economic shifts. They stressed that the pace signaled in the King’s recent directives leaves little room for delay, and requires coordinated action from both the public and private sectors.

Former Minister of Digital Economy and Entrepreneurship Ahmad Al-Hanandeh said the Asian tour opened "wide doors" for expanding economic cooperation and securing new investment flows, noting that the countries visited by His Majesty the King represent strategic partners for trade, technology and industrial development. He added that turning the outcomes of the visits into concrete projects will require sustained follow-up and clear roadmaps for each sector.

Al-Hanandeh said the King has taken a hands-on approach to the Economic Modernization Vision since its launch, pressing for adherence to implementation timelines and for proactive market expansion. "These efforts stem from a forward-looking vision that has long positioned Jordan to seize opportunities, confront challenges and respond quickly to political and economic shifts," he said.

Economist Ghazi Al-Assaf described the tour as a "strategic pivot" toward Asia at a time of elevated global uncertainty. He said diversifying economic partnerships is now a necessity, not a choice, particularly for a small economy with longstanding structural imbalances in its trade relationships.

Al-Assaf noted that several of the countries visited especially Vietnam offer instructive models of export-driven industrialization. He said His Majesty’s interest in such models reflects a broader push to transform Jordan into a more productive, manufacturing-oriented economy. Meetings with business leaders and investors during the tour, he added, signaled a shift from government-to-government diplomacy toward commercially driven engagement.

But translating this shift into results will require updated legislation, stable regulations and sector-specific governance frameworks, Al-Assaf said. He urged the adoption of participatory governance models in which ministries, business chambers, academics and industry experts jointly shape sector strategies.

Economist Ahmad Al-Majali said the King’s recent engagement both abroad and through intensive domestic follow-up meetings has expanded Jordan’s economic horizon, creating openings in Asian markets that are central to global value chains. But he cautioned that capitalizing on these opportunities requires procedural and regulatory reforms, faster investment pathways and swift conversion of memorandums of understanding into actionable projects.

Al-Majali also called on the private sector to move aggressively to position its products for Asian markets, adjust business models and seek joint ventures that leverage advanced industrial and technological capabilities.

Economist Maher Al-Mahrouq said the Asian tour, coupled with immediate domestic review sessions, reflects a "qualitative shift" in the state’s approach to economic management, where foreign policy is increasingly intertwined with economic strategy. Investment, he said, has effectively become a "royal priority" that transcends bureaucratic boundaries.

The King’s directives focused on easing investor procedures, resolving bottlenecks and consolidating reference points for investment underscore that progress will now be measured by investment inflows, export growth and the expansion of productive sectors, Al-Mahrouq said.

He added that Jordan’s pivot toward Asia aligns with global shifts in economic gravity, without compromising ties to traditional partners. Asian economies offer vast opportunities in technology, manufacturing and capital, while Jordan’s stability, geographic location and institutional base position it as a bridge between East and West.

Al-Mahrouq said the next phase will require detailed execution matrices with clear responsibilities, sector-specific task forces in manufacturing, technology, halal foods, logistics and tourism, and a single investment window capable of handling all permits and approvals. Comprehensive legislative reviews, he said, are essential to ensure predictability and protect investor rights.

He also emphasized the need for a service-oriented culture within government institutions, with performance metrics tied to facilitated investments, investor satisfaction and measurable project outcomes. Delivering successful joint projects with Asian partners, he said, would itself serve as powerful proof of Jordan’s investment readiness.

For the private sector, Al-Mahrouq called for a shift toward proactive engagement developing bankable project proposals, forming industrial consortia, improving governance and transparency, and adopting modern production technologies to compete in advanced Asian markets. Establishing permanent representation in Asia, participating regularly in trade fairs and securing distribution agreements, he said, are essential steps for sustained market access.

He also underscored the critical role of the banking sector in offering export financing, cross-border trade facilities and risk-mitigation tools, particularly for SMEs with export potential. Chambers of commerce and industry, he said, can amplify this effort by organizing follow-up business missions and mapping specific opportunities across Asian economies.

//Petra// AA

29/11/2025 11:23:29