Economic Modernisation Vision.

This Economic Modernization Vision is a nationwide multisectoral document centered on the slogan of “A Better Future”, and it is based on three strategic pillars (1) accelerated growth through unleashing Jordan’s full economic potential, creating job opportunities in the next decade, with the continuous growth of citizens’ per capita income; (2) improved quality of life for all citizens; (3) sustainability, standing at the forefront of countries in the region. The Vision will be implemented through eight economic growth drivers, covering 35 main sectors and sub-sectors and more than 360 initiatives. A roadmap has been prepared for quick actions that can be executed during the period 2022. Subsequent actions post-2022 are categorized into short-term, medium-term, and long-term for the Government to develop detailed Action Plans for execution. The strategic objectives of the Economic Modernisation Vision are (i) to ensure transparency in providing information related to national goals and priorities; (ii) to determine competitive advantages that Jordan can capitalize on to stimulate growth and create economic opportunities; (iii) to unify efforts of ministries and public institutions to support the achievement of the national strategic goals within a clear roadmap; (iv) to direct national planning toward strategic thinking to ensure the delivery of national goals in a better and more sustainable manner; (v) to enhance decision-making and policy development to make it data-driven and evidence-based to ensure more strategic decisions; (vi) to strengthen the capacity for accountability and follow-up, and enable necessary interventions to improve the implementation process and performance measurement; (vii) to propose a roadmap for political parties to interact with when developing their programs; (viii) to enrich the cooperation agenda with Jordan’s development partners to direct support towards the priorities set by the Vision.
Each of the eight Economic Growth Drivers has a own stretegic objective, as follows (1) High-Value Industries, aiming to develop Jordan into a regional industrial hub through high growth exports with high quality and value products. This driver includes agriculture and food security, mining, manufacturing (food products, chemical products, pharmaceuticals, textiles, engineering industries), transport, mobility and logistics; (2) Future Services, to achieve excellence in services sectors to increase their exports on regional and global levels; (3) Destination Jordan, to make of Jordan the prime tourism and film production destination; (4) Smart Jordan, with the aim of developing and preparing local talents to meet the needs of future skills, required resources, and institutions to accelerate economic growth and enhance the quality of life; (5) Sustainable Resources, optimizing the use of natural resources to ensure sustainability, unleash inclusive sectoral growth and enhance quality of life; (6) Invest Jordan, to stimulate domestic and foreign investments through an attractive and efficient investment; (7) Green Jordan, supporting sustainable practices as a pillar of Jordan’s future economic growth and enhance quality of life; (8) Vibrant Jordan, to improve quality of life for Jordanians through developing and adopting higher life standards that revolve around the citizen and the environment.
Through the economic pillar, Jordan is expected to create leaps in economic growth to accommodate 1 million young females and males in the labor market over the next decade. Through the “Quality of Life” pillar, all generations can enjoy a good lifestyle to make Jordan one of the best countries in the region in terms of quality of life and prosperity. The two pillars are closely interrelated: creating sound economic growth will provide the foundation to fund the required infrastructure for the quality of life pillar, while the targeted increase in income will allow citizens to spend on their lifestyle options. In addition, inclusive green growth will create a cleaner and more sustainable living environment for all citizens while triggering innovative growth opportunities in green products and services. Sustainability will be a key element in the economic future, in particular, it will be directed to (i) expanding on renewable energy, including new sources of energy (such as hydrogen) and continuously promoting improved energy efficiency; (ii) developing sustainable transport systems and establishment of a network of electric charging stations; (iii) increasing ecotourism and environmentally friendly activities; (iv) adopting modern agricultural techniques that adapt to climate change, including integrating best and environmentally friendly practices; (v) promoting improved water efficiency, water quality, and identifying new water resources; (vi) improving waste management, recycling and reuse.