King visits King Hussein Business Park, tours several institutions
Amman, 26 August 2024 (Jordan Times)- His Majesty King Abdullah II on Monday was briefed on the second phase of the King Hussein Business Park’s (KHBP) expansion plan, extending over 309 dunums at an estimated cost of JD5 million, to stimulate economic growth, attract investments, and create jobs.
The second phase of the project offers investment opportunities to develop facilities, roads, parking lots, and green spaces, and will witness the establishment of several facilities, including ones for information storage, medical simulation, and a hotel over an area of 9,000 square metres.
During a visit to the KHBP, attended by His Royal Highness Crown Prince Al Hussein bin Abdullah II, His Majesty listened to a briefing by KHBP Chairman Osama Madanat on means of implementing the park’s strategy, seeking to enhance the business environment, attract regional and international investments, support start-ups, and hone the skills of young Jordanians.
The King stressed the importance of enhancing Jordan's ability to benefit from economic opportunities by further developing a competitive business environment with distinctive infrastructure and services, capable of attracting more quality investments.
His Majesty called for building on the lessons learned from developing the KHBP’s first phase to accelerate future phases, highlighting the importance of coordinating with the private sector and investors to understand their needs and address challenges.
The investment volume of the KHBP’s first phase reached JD210 million, with a 99 percent occupancy rate, extending over a land of 200 dunums, including 36 facilities.
The park currently includes 295 start-ups, 65 local companies, 14 regional companies, and 19 international companies operating in various sectors and employing about 7,000 people.
His Majesty’s visit to the park also included a stop at the King Abdullah II Fund for Development (KAFD), where he was briefed by the fund's director general, Mazen Tabbalat, on key achievements and development programmes and projects.
Since the fund’s establishment in 2001, it has provided some 3 million direct and indirect employment, training, and qualification opportunities.
During the meeting, attended by the fund’s chairman and members of the Board of Trustees, His Majesty commended KAFD’s efforts throughout the years, stressing the need to ensure projects’ sustainability and secure new funding opportunities through philanthropy and corporate social responsibility.