Jordan’s Economic Modernization Vision is a comprehensive national project aimed at stimulating growth, expanding the productive base, and creating sustainable job opportunities. Its success, however, depends primarily on the ability of the public and private sectors to work as genuine partners with clearly defined and complementary roles, supported by institutional coordination that moves beyond theory into practical application, enhancing productivity and strengthening the competitiveness of the economy.

 

The public sector, by virtue of its legislative and regulatory role, is responsible for providing a stable and transparent business environment, reforming the legal framework, streamlining administrative procedures, and ensuring fair competition. It must also invest in strategic infrastructure in energy, transportation, and water, enabling the private sector to scale up larger productive ventures.

 

In return, the role of the private sector is not limited to financing projects; it extends to innovation, developing value chains, opening new markets, creating quality jobs, adopting technology, and improving production efficiency.

 

From a domestic investment perspective, the private sector accounts for more than half of Jordan’s GDP, making it a primary driver of the Vision’s objectives. Despite fluctuations in investment levels between 2022 and 2025, first-quarter indicators for 2025 show a relative improvement in investor confidence, supported by business environment stability. However, sustaining this improvement depends on the government’s ability to reduce risks, expand incentives, and ensure long-term legislative stability.

 

Economic growth remains the compass for measuring the success of this partnership. Despite the challenges, growth rates showed relative improvement in 2025, providing a foundation to build upon for achieving higher rates by 2033. This can be achieved by enhancing spending efficiency, linking major projects to development zones, and expanding the role of the banking sector and the Social Security Investment Fund in financing productive activities.

 

Unemployment remains the real test for this partnership, especially given the high youth unemployment rates. Investments must therefore be directed toward labor-intensive sectors, while aligning education and vocational training policies with labor market needs. Development and industrial zones can serve as key platforms for job creation, provided that tax and procedural incentives are strengthened and operational partnerships with the private sector are activated.

 

Foreign investment is another complementary pillar, bringing technology, expertise, and access to global markets. Jordan’s attractiveness to foreign investors depends heavily on the vitality of domestic investment, as local investor confidence sends a strong signal to international markets.

 

The Jordanian banking sector plays a pivotal role in financing development by designing innovative financing tools accessible to productive projects and supporting entrepreneurs and SMEs with flexible lending programs. Meanwhile, the Social Security Investment Fund has significant capacity to stimulate the economy through strategic investments in infrastructure, energy, and technology, delivering balanced economic and social returns.

 

Public sector reform is essential for the success of this partnership. Administrative efficiency, swift decision-making, and timely processing of transactions boost investor confidence. Furthermore, restructuring public spending and redirecting it toward productive projects, rather than unproductive current expenditures, amplifies the impact of private investment and accelerates the Vision’s objectives.

 

International experiences confirm this formula. The UAE has enhanced its business environment through specialized free zones that attract global companies, while Singapore has built a high-value competitive economy through strategic public-private partnerships in technology and financial services.

 

The first three years (2023–2025) of implementing the Vision have seen progress in modernizing infrastructure and the legal framework, alongside relative improvements in investment indicators. Still, greater efforts are needed to reduce unemployment and promote innovation. This stage provides a strong platform to build upon by intensifying the linkage between major projects and development zones, enhancing cooperation with the banking sector and the Social Security Fund, and activating training programs aligned with labor market needs.

 

In light of the challenging and volatile regional environment surrounding Jordan, this partnership must serve as a driver for steering the economic ship toward stability and sustainable growth. If the public sector commits to good governance, transparency, and enabling policies, and the private sector responds with investment, innovation, and capacity-building, the Vision will move from a promising document to a tangible economic and social reality that fuels growth and ensures lasting prosperity.