This requires giving greater priority to real economy sectors and changing the economic policy evaluation criteria. Instead of the number of programs and initiatives and the volume of spending, there must be clear productivity indicators focusing on the actual impact linked to improving citizens' lives.
Industry is at the forefront of these sectors. Jordan has a good base in pharmaceutical, food, chemical, fertilizer, and clothing industries. What is required is to deepen local manufacturing, develop intermediary industries, and link investment incentives to the volume of employment, exports, the percentage of local content, research and development. The higher the value produced within the Kingdom, the greater the economy's ability to retain income and reduce dependence on the outside.
In agriculture, the focus should shift from production volume to increasing productivity and the economic value of water. This requires expanding smart agriculture, higher-value crops, food processing, storage, cooling, and marketing, so that agriculture becomes an integrated production chain linked to industry, export, and food security.
Energy is a crucial element in economic competitiveness. The continued expansion of renewable energy and the development of storage and networks must be directly translated into reducing the cost of industrial, agricultural, and service production.
Jordan also has an important opportunity in transportation and logistics, benefiting from its location, the port of Aqaba, and its connections to regional markets.
However, converting geographical location into an economic advantage requires reducing the time and cost of transporting goods, speeding up customs procedures, and improving the link between industrial zones and border crossings.
Tourism and digital and professional services are also an important source of foreign currency and job opportunities. The challenge here is to increase the value that remains within the economy, either by increasing tourist spending and linking it to local products, or by building technology and service companies capable of expansion and export.
Financing is a pivotal part of the productive policy. The Jordanian banking sector has a strong financial base. A larger share of financing should be directed towards expanding productive and exporting companies and small and medium-sized enterprises capable of growth, while developing loan guarantee tools, venture capital, and long-term financing. Productive investment needs financing that aligns with the project's construction cycle, not just short-term financing.
The transition from policies to building productive capacities is the essence of the next phase. The targets of the economic modernization vision will not be achieved by plans alone, but by a more capable economy to manufacture, grow, export, and innovate, providing Jordanians with productive and sustainable job opportunities.
