This shift in investment philosophy, moving from merely managing funds to employing them in projects capable of generating economic value and boosting growth, is reflected in the figures recorded by the Fund at the end of the third quarter of the current year. These figures provided a clear indicator of the scale of this role, as the Fund's assets rose to approximately 20.1 billion dinars, compared to 18.7 billion dinars at the end of last year.
Perhaps what is remarkable about these results is not only the growth in assets, but the Fund's ability to achieve a comprehensive income of about 1.37 billion dinars during the first nine months of the year, which included a net income of 879 million dinars, in addition to an increase in the valuation of the strategic equity portfolio by about 492.4 million dinars, as well as the insurance surplus transferred from the Social Security Corporation.
However, the most important shift appears to be in the nature and direction of new investments; the Fund is increasingly moving towards long-term strategic projects, allowing it to combine investment returns with contributing to infrastructure development and enhancing the productive capacities of the Jordanian economy. For example, but not limited to, this vision is manifested in the Aqaba-Shidiya-Ma'an railway project through owning 7% of the project.
In the water sector, the Fund's 15% participation in the National Water Carrier project stands out, alongside its anticipated contribution to financing through the consortium of Jordanian commercial banks, as it is one of the projects most linked to water security and developmental stability in the Kingdom. Its 20% participation in the IPP7 electricity generation project also comes into play, as well as the move towards owning the same stake in the pure phosphoric acid factory project.
As for the Jordanian-Omani partnership, under which the Jordanian-Omani Investment Company was established with an investment volume of 100 million dollars and equal ownership between the two parties, it represents another model for expanding the base of investment partnerships and attracting regional capital and expertise, which opens the way for new projects and enhances the Jordanian economy's ability to attract qualitative investments.
In conclusion, the growth in assets and expansion in strategic projects witnessed by the Social Security Investment Fund reflects a more effective investment approach and a clear effort by its current management to maximize the benefit from social security funds and expand their presence in the national economy. Therefore, what is required is to build on these achievements to ensure the sustainability of returns and protect the funds of Jordanians, so that this institution remains a true lever for economic growth and a guarantee for the rights of future generations.
