Country Profile:
Jordan
Jordan
Located in the centre of the Levant, Jordan stands out as a model of stability and tolerance in the region. While the kingdom lacks the vast natural resources of its neighbours, it punches above its weight in diplomatic circles and has developed a strong educational foundation that serves as a launching board for its increasingly knowledge-intensive industries. Although the demographic pressures of a young and growing population do present some challenges, Jordan has a thus far been able to maintain its macroeconomic fundamentals without forsaking political stability or social cohesion.
ISBN: 9781907065064
ISSN (Online): 1759-6955
ISSn (Print): 1759-6947
TABLE OF CONTENTS
COUNTRY PROFILE
This section provides a quick overview of some facts about the country, its population, languages, natural resources, geography, climate, religion and history.POLITICS
King Abdullah II’s first decade on the throne has been characterised by steady progress and solid leadership. The domestic economy has grown 5-6% a year and the government is working to continue liberalising both the economy and political system. Jordan has a constitutional monarchy system under which formal legislation requires royal assent to become law, but the parliament is becoming more significant and professional, and democratic elements are becoming more firmly entrenched. Along with domestic gains, Jordan has worked hard to develop its relationships with Western powers and other emerging markets. King Abdullah and Queen Rania have positioned the kingdom as an important link between the east and west, with efforts to mediate the Israel-Palestine conflict, as well as to build links with US President Barack Obama. Key challenges remain, however, particularly as Jordan works to address regional development and water and energy security, as well as the fallout from the global financial crisis.
This chapter provides interviews with Queen Rania Al Abdullah; Prime Minister Nader Dahabi; and Boutros Boutros-Ghali, Former UN Secretary-General. US Senator Judd Gregg also provides a viewpoint on strengthening US-Jordan relations.
ECONOMY
Despite slowing growth and rising uncertainties at the end of 2008 and early 2009, the Jordanian economy has proved to be more resilient than expected, registering 5.6% growth at the year’s end. Although it was below the 2007 level of 6.6% and the 7.5% average for the previous three years, strong remittances, high levels of foreign direct investment, rising exports and booming construction and real estate were all drivers for sustained growth. The best performing sectors for 2008 were mining and quarrying, electricity and water, and transport and telecommunications, which grew by 10.8%, 11.6% and 7.6%, respectively. Still the year was not without its problems: several large foreign exchange companies went bankrupt, the Amman Stock Exchange (ASE) experienced a correction, unemployment increased and inflation rose. These were further compounded by a drop in foreign direct investment (FDI) from the Gulf states, major investors in the Jordanian economy, who are dealing with the effects of the global downturn. The decline in oil and other commodity prices has, however, brought some welcome relief from inflation, and the government has been proactive about decreasing spending and increasing public investment in recent months. By lifting the last of the country’s exciting fuel subsidies early in 2008, the government avoided a significant spike in oil prices, which could have caused havoc on the budget. The New Investment Promotion Law should also help to attract FDI, as the government moves to increase incentives and exemptions, and open up new free zones. In addition, as Iraq continues to stabilise, Jordan is set to capitalise on increased trade. Exports to the country were up by 36.9% to $335.4m in the first four months of 2009. Although the coming year looks to be challenging worldwide, and the government anticipates a growth rate of 3-4%, Jordan has a lot to offer potential investors, particularly those seeking to develop its transport, energy and tourism sectors. Given the kingdom’s potential, the IMF estimates that growth will pick up in 2010 and show steady improvement through 2013-14.
This chapter provides interviews with Bassem Salem, Minister of Finance; and Peter Sands, Group CEO, Standard Chartered. Maen Nsour, CEO, Jordan Investment Board (JIB), provides a viewpoint on past achievements and future opportunities.
BANKING
Despite the onset of the financial crisis, both 2008 and early 2009 saw relatively strong performances by Jordanian banks. Overall net profits for local banks (excluding the operational Islamic banks) were up 5.2% for the year, although as the impact of the credit crunch became apparent, lending slowed and banks adopted a more cautious approach to business. While the Central Bank of Jordan (CBJ) is pressuring banks to maintain sufficient lending, for the most part, they have tightened controls and focused on the best clients and recession-proof sectors. Those foreign banks currently present in Jordan are facing challenging conditions, but are able to draw on broader regional and global networks for support. Along with conventional banks, Jordan now has three Islamic banks that offer takaful services. The newest of these, Jordan Dubai Islamic Bank (JDIB), was granted a preliminary licence in July 2009 and, it is hoped, will increase competition in the segment. While the number of institutions in the banking sector has provided people with a good range of products, given the projections for the coming year, banks may finally move towards consolidation. Although they have resisted in the past, despite the CBJ’s attempts to raise capital requirements and take other measures to persuade them, 2009 may prompt new developments.
This chapter provides interviews with Umayya Toukan, Governor, Central Bank of Jordan; Abdel Hamid Shoman, Chairman & CEO, Arab Bank; and Musa Shihadeh, Vice-Chairman and General Manager, Jordan Islamic Bank.
CAPITAL MARKETS
Although the Amman Stock Exchange (ASE) suffered a 25% decline in 2008, it has fared better over the past 18 months than many of its neighbours, due in large part to the overall strength of the economy. While other markets saw an average drop of 55%, Jordan’s 5.6% growth for the year protected it from the worst of the fallout from the global financial crisis. Additionally, foreign investors, who now hold close to 50% of stock, held the line. Indeed, the percentage of non-Jordanian ownership in listed companies increased from 33.8% in 2003 to 46.6% by the end of 2008 and 49.4% by mid-2009. Still, 2008 was a volatile year, with the ASE General Weighted Price Index rising by 30% to a record 5055 in the first half of the year before sinking 32% in the final quarter. Many sectors – most notably real estate and financial services, which were down 50% and 48% at the end of the year – saw declines, although food and beverage and mining and extraction did enjoy modest rises, registering 7.53% and 1.58% growth, respectively. Despite the drop in market capitalisation, down to JD25.4bn ($36.1bn) from a high of JD29.2bn ($41bn) in 2007, 17 new companies listed, bringing the total to 272. Although new initial public offerings (IPOs) are unlikely in 2009, the year has brought some signs of improvement to the global economy and the mood on the market followed suit somewhat, and utilities, energy, financial and real estate stocks all picked up. By the end of June, the overall index was about 6% higher. If the global conditions continue to stabilise, 2010 should be a strong year, as more local and foreign investors reinvest in stock exchanges worldwide.
This chapter provides interviews with Jalil Tarif, CEO, Amman Stock Exchange (ASE); and Samir Jaradat, CEO, Securities Depository Centre. Adel Kasaji, COO and CFO, AB Invest, provides a viewpoint on the effectiveness of credit ranking agencies given the current global economic crisis.
INSURANCE
Jordan’s insurance market is crowded due to a low level of insurance premiums, but there is still significant growth potential, as insurance penetration, at 2.5%, is well below the average among Organisation for Economic Cooperation and Development countries. Currently there are 28 insurance companies, 10 of which are licensed as non-life, 17 as composite (life and non-life) and one as life-only. Gross written premiums rose 14.1% in 2008 and the sector remains relatively protected from the effects of the global economic crisis. Although the drop in the stock market and the decrease in asset prices have affected insurance companies’ investment portfolios, demand has not decreased for coverage. Interest in marine, medical and life insurance has been growing especially, up 29.2%, 25.9% and 22.9%, respectively, in 2008. Motor continues to dominate the market, accounting for 41.8% of gross written premiums, despite some companies’ efforts to reduce their exposure to the segment. Insurance firms claim that the fixed price for motor premiums, which is set by the state, does not cover costs and are pushing for further liberalisation. Another anticipated change in the sector is a possible wave of consolidations. With declining returns on investment portfolios and pressure on profit margins due to competition, mergers and acquisitions are likely in the coming year. Still, some analysts say that to prevent overcrowding, the government needs to raise the level of minimal capital.
This chapter provides an interview with Sami Gammoh, Chairman, Jordan International Investment Group.
TELECOMS & IT
Information and communications technology (ICT) has taken off in recent years, and the sector is now the third-largest contributor to GDP, accounting for some 12% of the economy. Revenues are expected to exceed $1bn this year, as growth in the domestic and regional markets has remained strong despite the downturn. The sector has been gaining importance, but the government has even more ambitious goals for coming years. The national ICT strategy, which covers a period from 2007 to 2011, aims to increase internet penetration to 50%, boost the number of workers in the industry to 35,000 and expand service revenues to $3bn. While these plans set a high bar, progress has already been made, with internet penetration reaching 26% in 2009, up from 11% two years earlier. The new strategy relies on private sector participation and investment. It also seeks to improve the business skills of the kingdom’s 5000-6000 IT graduates, working in partnership with the private sector so that graduates will be better prepared for the transition to the business environment upon completing their studies. As the domestic sector grows stronger and barriers to PC ownership continue to fall, Jordan’s ICT stands to continue its solid rise and to emerge as a regional competitor.
With strong gains in recent years, Jordan’s telecoms sector will likely fare better than most in 2009, although mobile revenues may fall 4-5%. However, this still compares favourably with an anticipated global average drop of 8.6%. Mobile telephony has become the major earner of the $1.42bn sector, with 94% of Jordanian households owning mobile phones. Zain is the market leader, with around 40% of the market, or 2.35m subscribers in 2008, but Orange (the mobile arm of the previous state-owned fixed-line incumbent, Jordan Telecom Group, that is partially owned by France Telecom), also has a substantial share, 35%, and will be given a boost by its recent acquisition of the country’s first 3G licence. The Telecommunications Regulatory Commission (TRC) awarded the $71m licence to Jordan Telecom/Orange in August 2009 and the company will have the exclusive right to the technology for one year. Umniah, the latest entrant to the mobile market, has around 25% of market share. The TRC has been a strong advocate of liberalisation and competition in the mobile segment, but the fixed-line network remains under an effective virtual monopoly and subscription figures have been dropping. The TRC is looking at introducing measures to improve competition in the market and if the government is to achieve its stated policy of increasing internet penetration to 50% by 2012, it will need to open up the sector to more firms and greater investments.
This chapter provides an interview with Ahmad Hiasat, Chairman and CEO, Telecommunications Regulatory Agency. Talal Abu-Ghazaleh, Chairman, Talal Abu-Ghazaleh Organisation, provides a viewpoint on the importance of combating online piracy. The chapter also provides a round table with Ihab Hinnawi, CEO, Umniah; Nayla Khawam, CEO, Jordan Telecom Group; and Abdul Malik Al Jaber, CEO, Zain.
TRANSPORT
Jordan’s transport sector has long ranked among the most developed in the Middle East, but a raft of new projects should help the kingdom maintain its competitive edge. In a bid to solidify its position as the regional transport hub, plans have been announced to build a metro for Amman, a new airport terminal and an international rail network. While the government is spearheading many of the initiatives, private sector companies are also contributing expertise and financing. The road, metro and airport projects are designed primarily to increase capacity to match Jordan’s growing population. The 60-km Amman Ring Road, which is due for completion in 2011, should relieve some of the traffic around the capital. The metro will also help reduce congestion, although the $1.2bn system is expected to take 10 years to complete. The Queen Alia International Airport (QAIA), the kingdom’s main airport, is in the middle of a wide-ranging overhaul and expansion, which will increase its capacity to 9m passengers per year by spring 2012, with the possibility of a further increase to 12m. In 2008 the airport handled 4.48m passengers, up 16% on the previous year. The $700m investment from Airport International Group (AIG) will build a new 85,000-sq-metre terminal, as well as upgrading existing facilities. Expansion plans are also under way in Aqaba, where the Aqaba Development Corporation (ADC) has announced that construction on a long-awaited new port is set to begin by the end of the first quarter of 2010. The improving rail, road and air ties will give manufactures and suppliers access to not only the domestic market, but also to the large neighbouring markets of Syria, Iraq and Israel. Iraq, in particular, will likely see a significant increase in commercial traffic as it continues to stabilise and Jordan stands to benefit from the spike in trade.
This chapter provides interviews with Sahel Mahali, Minister of Transport and Ibrahim Naouri; Chairman, Naouri Group.
AQABA
Aqaba’s success as a trading and tourism destination has exceeded expectations and recent investments have paved the way for even more development, including a new port, large resorts, universities and a logistics centre. In 2006 the region accounted for 6.3% of Jordan’s GDP, a proportion that is expected to rise to 10% by 2010. The Aqaba Special Economic Zone (ASEZ), which encompasses the city and the kingdom’s 27-km coastline, offers a raft of incentives to investors, including taxing most economic activities at 5%; eliminating tariffs on imported goods; and no annual taxes on corporate lands. Firms based in the zone are also able to employ foreign workers for up to 70% of their workforce. Investors have been drawn to the area by these incentives and excellent infrastructure. By 2006 the ASEZ had attracted $8bn in committed investments, beating its $6bn target by 2020 by a third and more in a decade. The goal was adjusted to bring in another $12bn by 2020, but in 2009 alone, deals worth $14bn were inked. Of this, $10bn is earmarked for Abu Dhabi-based Al Maabar’s Marsa Zayed development, which will be the largest real estate and tourism project in Jordan. The project is expected to create at least 15,000 jobs and to be completed by 2020. Other tourism projects are also in the works, including a number planned for inclusion in Tala Bay, the $3bn Mansion Hills integrated tourist city and the $1bn Saray Aqaba area. Some 442,000 tourists visited Aqaba in 2008 and the government is hoping that a strategy that links Aqaba to Petra and Wadi Rum will attract even more visitors. In addition to tourism, Aqaba is also Jordan’s only port. The Aqaba Container Terminal (ACT) handled a record 587,530 twenty-foot equivalent units (TEUs) in 2008, an increase of 41.6% on the previous year. To accommodate the rise in trade on the back of the increasing popularity of container shipping and the stabilising political situation in Iraq, the Aqaba Development Corporation (ADC) has announced plans for a new port. The port relocation 20 km to the south will cost an estimated $600m and will improve infrastructure, while freeing up space for development in the city. Plans for upgrading the King Hussein International Airport (KHIA), overhauling the national railway and for developing a logistics centre will also help position Aqaba as a regional hub for trade and transport.
This chapter provides an interview with Imad Fakhoury, Deputy Chairman and CEO, Aqaba Development Corporation; and Bilal Bashir, Deputy Chief Commissioner, Aqaba Special Economic Zone Authority.
INDUSTRY
Industry is one of Jordan’s leading sectors, contributing approximately 24.4% to GDP and accounting for nearly 90% of exports. Pharmaceuticals, phosphates and textiles are among the kingdom’s leading products, although it also produces steel, cement, petroleum and auto parts, among other goods. In 2008 exports were up 26% on the previous year, but the downturn in the global economy will present a challenge in 2009. After very strong performance in 2008, in which the Jordan Phosphate Mining Company (JPMC) made net profits of JD238.4m ($339m), more than 500% up on 2007, phosphate fertiliser sales have been hit by the slump in world prices and production is likely to be lower in 2009. Textile exports, primarily to the US, are also suffering, and lowered demand has led to a number of companies to shut down. Pharmaceuticals remain a bright spot on the horizon, with consumption relatively constant, despite the slowdown. With the aim of increasing investment, the government has established a nationwide network of industrial estates, free zones and special economic zones where related industries can congregate, maximising resource distribution and labour supply and demand. In addition to the convenience of the zones, qualifying investors are also given incentives, such as exemption from income and social services taxes on profits for a period of 12 years (with certain exceptions); tax-free salaries and allowances for non-Jordanian employees; exemptions for goods imported to or exported from free zones from import taxes and Customs duties, with the exception of goods released to the domestic market; free transfer of capital invested in free zones, including profits. These incentives, coupled with a multitude of free trade agreements (FTAs), are a solid foundation that will provide the groundwork for growth once the global economy stabilises.
This chapter provides interviews with Amer Al Hadidi, Ministry of Industry and Trade; and Saleh Kilani, Chief Commissioner, Development Zones Commission.
ENERGY
Jordan does not have the natural resources of its neighbours and has traditionally imported nearly all of its energy and fuel requirements, but under its National Energy Strategy, renewables and nuclear energy are set to transform the kingdom into a net exporter by 2030, despite a rapidly growing population. With energy imports from Saudi Arabia, Iraq and Egypt consuming 20% of GDP in 2008, as the price of oil surged to nearly $150 a barrel, energy security has become even more of a priority in recent months. The government is seeking an investment of $18bn in the sector to 2020, with the most prominent proposals including developing civil nuclear power, oil shale and renewables. The plans aim to take Jordan’s share of electricity generated from internal sources of energy from 4% to 39% by 2020. Electricity is one of most pressing concerns, as demand growth has been more than double that of primary energy in the past two years, with expectations that demand will continue to rise from 2260 MW in 2008 to 6000 MW by 2020. Wind will be one of the major sources of energy and negotiations for the kingdom’s first wind farm are in the final stages. The government aims to generate some 600 MW by 2015 and to double this capacity by 2020. Although much of the emphasis has been placed on renewables, the kingdom is also exploring its own natural resources, including its vast deposits of shale, among the world’s largest. Nuclear power, while a more long-term prospect, also holds substantial potential. The government hopes to ultimately build four nuclear reactors to generate 30% of Jordan’s electricity requirements by 2030, and has signed nuclear cooperation agreements with a number of developed nations to facilitate this, including France and the UK. With all of these projects in the works, the energy sector is one of the strongest prospects for investment in the Jordanian economy. Although challenges remain, most notably securing financing during the downturn and keeping up with the pace of demand, the sector should see major growth in the next two decades.
This year, with Jordan’s top-end property segment saturated, developers are more eager than ever to focus on large, low-cost housing plans, as well as a range of important transport infrastructure projects. The government has long invested heavily in construction and will increase its spending in 2009, in part as a bid to stimulate the economy. The budget calls for $211.2m to be allocated to public works and housing, up from $202.9m in 2008. Demand looks likely to be strong due to demographic and economic factors. Jordan’s population has been growing at an annual rate of 2.2% to 2.6% over the past 10 years and is forecast to grow by 2.3% in both 2009 and 2010, so the need for residential units will remain strong. Additionally, tourist properties and urban infrastructure remain underdeveloped and the Amman Master Plan, which sets out the structure for the capital’s growth as it expands from a population of 2.2m to 6.4m by 2025, seeks to take advantage of the new opportunities. Transport projects, including the extension of the Amman Right Road, a new terminal at the Queen Alia Airport, a new port at Aqaba, the Amman metro and the National Rail project, have all attracted significant interest from investors and are still on track to come on-line in the coming years. Although some of the larger real estate projects remain on hold, they look likely to restart as the economy stabilises, as contractors take advantage of low interest rates and dropping materials prices.
This chapter provides an interview with Ali Kolaghassi, Vice-Chairman and CEO, Saraya Holdings.
AGRICULTURE
Jordan is one of the driest countries in the world, but modern farming techniques are improving yields and the government is hoping to increase self-sufficiency in coming years. Although agriculture contributes less than 5% to total GDP, it continues to support the rural economy as a source of direct and indirect employment. The value of foodstuffs exported from the kingdom has also been on the rise in recent years, earning $930.7m in 2008, compared with $655.6m two years earlier. The year-round production of fruits, vegetables and herbs is especially attractive to European markets and can command a high premium. Despite these successes, Jordan has a long way to go to increase self-sufficiency. Agriculture already consumes between 65% and 75% of available water resources and the country remains dependent on imports for most grains, as well as some staple vegetables and meats, although it is self-sufficient in dairy products, eggs and goat meat. Still, Jordan has a comparative advantage in fruits and vegetables and the government is working to create incentives to encourage farmers to grow a surplus of these crops for export. The lack of marketing and packaging capacity has also limited the country’s exposure on the European market, but the Investment Promotion Unit (IPU), created in 2000, has been tasked with raising the international profile of Jordanian goods. Olive oil, in particular, has benefitted from this initiative, with growing harvest yields, a strong tradition and good marketing potential. Other efforts to boost the sector include Queen Rania’s National Programme for Organic Farming, which aims to replace 2-4% of all land under cultivation with organic farming, as well as a land lease from Sudan. As food security remains at the top of the government’s policy agenda, the agriculture sector stands to receive more funding and more attention from reformers looking to maximise its potential.
This chapter provides an interview with Mohammad Abu Ghazaleh, Chairman and CEO, Fresh Del Monte Produce.
TOURISM
Arrivals and receipts have been rising in recent years, as Jordanian tourism has taken off. Receipts hit JD2.09bn ($2.97bn) in 2008, representing a 27.5% increase from 2007 and arrivals rose to 7.1m in 2008, from 5.6m in 2004. The National Tourism Strategy (NTS), which has been in place since 2004 and is set to continue until 2010, focuses on creating niche segments such as ecotourism and religious tourism, and enhancing the country’s image as a boutique destination. Visitors from neighbouring countries and Europe still make up the bulk of arrivals, but the kingdom is working to break into new markets, particularly in India and China. Attracting tourists from farther flung locales is crucial, since many of the visitors from Arab states either just come for day trips, or stay with friends and family rather than in hotel accommodations. Package tours are being heavily promoted as part of the marketing push and the number of visitors coming with a group increased by nearly 41% in 2008, from 359,625 to 506,674. Aqaba and the Dead Sea have also become major modern tourist resorts and more projects are in the works. For those seeking adventure and ecotourism, the government is establishing nine natural reserves and working to add four sites to the UNESCO World Heritage List: the Dana, Al Azraq, Al Mujib and Wadi Rum nature reserves. The kingdom is also working to provide better service to visitors, and is focusing on employee training programmes. A $100,000 grant from USAID and JITOA will be used to help finance training courses, and plans are in the works to set up an events management programme in collaboration with George Washington University. Once these programmes get on track, and the marketing campaigns take off, Jordanian tourism should see good long-term prospects for development.
This chapter provides an interview with Hussein Dabbas, President and CEO, Royal Jordanian.
HEALTH & EDUCATION
Jordan’s health care is steadily improving, as national programmes work to improve quality and expand access. Some 10% of the kingdom’s GDP goes towards health care, with the public sector financing over 45% of this. The government has been particularly active in targeting infectious diseases, but non-communicable illnesses are on the rise and are presenting a new challenge. About a third of Jordan’s 100 or so hospitals are private, and most of these facilities are in Amman, where Ibn Khaldoun Street is said to have more private physicians per sq metre than anywhere else in the world. In addition to accommodating domestic needs, Jordan has also seen a rise in medical tourists, with an estimated 250,000 foreign patients receiving treatment every year in the kingdom, generating well over $1bn in annual revenues. To keep up with the demand, the sector needs to expand its capacity, both through the construction of new facilities and the investment in cutting-edge research. Once these reforms are made, more people will be able to take advantage of the kind of high quality care that is available in Amman’s private facilities.
Jordan has long had the leading education system in the Arab world and UNESCO ranks it 18th globally. The government has made education a priority, spending 13% of the national budget on the sector. Compulsory education lasts 10 years, although many students complete a further two years of secondary academic or vocational education. After completing vocational education graduates either complete more specialised and intensive training or enter the job market. Pupils in the academic track can continue their studies at university. There are 10 public and 12 private universities, although the publics cater to 70% of the student body. Recent measures include more partnerships with foreign universities and the launch of the Jordan Education Initiative (JEI), which aims to increase the use of IT in the classroom. Along with ongoing curriculum reforms and efforts to adjust programmes to the demands of the job market, these plans should improve Jordan’s already solid reputation for excellence in education.
This chapter provides an interview with Dr Mahmoud Sarhan, CEO, King Hussein Cancer Centre (KHCC). Wajih Owais, President, Jordan University of Science and Technology, provides a viewpoint on quality and quantity in education.
MEDIA
Increasing privatisation and liberalisation has cushioned some of the effects of the financial crisis, but a cut in advertising spending by banking real estate and consumer goods sectors is going to be felt by Jordanian media groups in 2009 and 2010. Print media, especially large newspapers, remain the primary source of information, although radio is becoming a serious player and the TV segment is expected to open up soon. Radio penetration in recent years has surpassed 50%, with over 25 local and national radio stations. Regional satellite channels such as Al Jazeera, Al Arabiya, Arab Radio and Television and Middle East Broadcasting Centre (MBC) are popular with Jordanian audiences, although local TV remains limited to the state-run broadcaster. This is expected to change in the near future, however, when the first private TV channel will be introduced by the AT Group. Along with more traditional media outlets, websites are becoming increasingly important news sources, although there have been accusations about lapses in the quality of reporting. While websites have earned a reputation for being more outspoken than other forms of print media, by regional standards, Jordan is considered to be freer and more outspoken than its neighbours. With more and more media outlets starting up in coming months, the sector will likely see greater vertical integration among groups as they work to combine online, mobile, print radio and TV outlets in their portfolios to attract advertising revenue from varied sources.
This chapter provides an interview with Samir Barhoum, Chief Editor, The Jordan Times.
THE BUSINESS GUIDE
In conjunction with Ernst & Young, OBG explores the taxation system, examining Jordan’s investor-friendly environment. Samar Obaid, Partner, Ernst & Young, provides a viewpoint. OBG also introduces the reader to the different aspects of the legal system in Jordan, in partnership with Ali Sharif Zu’bi Advocates & Legal Consultants. The legal coverage also provides an interview with Khaled Asfour, Managing Partner, Ali Sharif Zu’bi Advocates & Legal Consultants.
THE GUIDE
This section includes hotel, government and other listings, alongside useful tips for visitors on topics like currency, visas, language, communications, dress, business hours and electricity.
