Jordan is a constitutional monarchy that has been evolving economically at a rapid pace since the assumption of King Abdullah II to the throne in 1999.
Prior to the world financial crisis in 2008, Jordan witnessed a bright socio-economic growth with a 6% increase in real GDP. This growth was a result of a policy geared toward stimulating local investments, attracting foreign capital inflow, giving a greater role to the private sector and promoting Jordan’s special economic zones. This created additional wealth, which spilled over into various sectors of the economy.
As for the paper industry, the new investments taken in the paper and in the tissue line brought the economy to a higher level. Nuqul Group invested in a new tissue mill and Jordan Paper undertook new projects in their facility.
However, in 2008, like many other countries, Jordan began to witness an increase in the rate of inflation, which jumped up to nearly 12% and has led to significant pressures on consumers, leading to a slow down in the demand on goods, therefore on production. But even if the recent two years had shown some challenges for the economy and for the paper industry, Jordan is still among the best potential societies in the Middle East, and 2010 had just begun ; hoping it will open doors and bring new opportunities and fulfillment in all matters.
I would like to close this editorial by quoting the following messages of hope and wisdom from his Majesty King Abdullah II, King of the Hashemite Kingdom of Jordan :
« Jordan is well on its way to harness its national talents and to create a center of excellence out of this young and modern Kingdom. The challenge is, to see beyond the surface, to avoid distortion and to translate not only between languages, but between cultures and communities…
Great opportunities lie ahead ; a world where all people share in the promise of human knowledge ; participate in global prosperity and growth and fulfil their human potential. This is our goal in Jordan, and this is Jordan’s goal for the Middle East … »