The Ministry of Investment in the UAE has signed a substantial memorandum of understanding (MoU) worth $2 billion with Jordan, focused on enhancing investment cooperation across crucial sectors. These sectors include infrastructure and development projects, with the aim of strengthening the enduring strategic partnership between the two nations. The MoU was signed by the UAE’s Minister of Investment, Mohammed Hassan Al-Suwaidi, and Jordan’s Minister of Planning and International Cooperation, Zeina Toukan. Additionally, Abu Dhabi Developmental Holding Co. has joined forces with the Jordan Investment Fund to establish a joint investment fund, reflecting ADQ’s commitment to advancing sustainable development initiatives in Jordan and the wider region. Al-Suwaidi underscored the commitment to boosting cooperation and investment in Jordan, solidifying the fraternal relationship between the UAE and Jordan, and seeking new opportunities for mutual growth. Toukan highlighted the MoU’s significance in building upon the deep historical ties between the two nations and enhancing economic prosperity for both.
Through the MoU, the two countries aim to explore opportunities to strengthen bilateral investments and boost their gross domestic product, with a particular focus on sectors like renewable energy, industrial projects, manufacturing, transportation, pharmaceuticals, and food manufacturing. Non-oil trade between the UAE and Jordan has surged remarkably over the past decade, growing by 138 percent to reach 16.4 billion dirhams ($4.47 billion) by the end of 2022. The UAE stands as one of Jordan’s top five non-oil trading partners, with an estimated total of approximately $20 billion in mutual investments. Both nations are committed to developing economic cooperation and expanding into innovative sectors, with a strong emphasis on advanced technology and digital transformation applications, leading to enhanced prosperity and cooperation channels for the benefit of both countries. The Joint Economic Committee plays a pivotal role in strengthening trade and investment flows, contributing to the growth of vital economic sectors and deeper economic cooperation between the UAE and Jordan.