Jordan’s information, communications, and technology (ICT) sector are one of the country’s fastest-growing economic sectors, contributing 3.8 percent to GDP and earning more than USD 2.3 billion per year. The ICT sector, which had a growth of 6% during the epidemic, continues to stand as one of Jordan’s biggest strengths despite the difficult economic circumstances. The transition to e-government services is a high priority for digital transformation.
By placing 71st out of 193 participating nations in the Global Cybersecurity Index (GCI), Jordan is making progress in the field of cybersecurity. The Cybersecurity Law, which was approved in 2019 and serves as a roadmap for the nation’s cyber-defense capabilities, established a National Cybersecurity Council and a National Center for Cybersecurity. With the government recently establishing agreements with telecom providers to introduce 5G services by 2024, 5G is currently a priority.
People choose to start businesses in Jordan for a variety of reasons. One of them is that business owners think domestic marketplaces are safer than international ones. Jordan provides a lot of opportunities for success, including its free economy and free trade zones, which is another justification. Additionally, businesspeople favor working with Jordanian partners over overseas counterparts. Their chances of being successful in their business endeavors rise as a result. Also, because most businesspeople work inside their social networks or local communities, they frequently use word-of-mouth advertising to promote one another’s companies.
Leading sub-sectors
- Verticals: EdTech, HealthTech, and FinTech
- IT Architecture
- Cybersecurity
- Software
- Online and mobile services and solutions
- Gaming
- Outsourcing of business operations
Opportunities
The following are a few of the top ICT market segments in Jordan businesses:
Access to regional and global markets
Entering the adjacent Arab market presents essentially no cultural or linguistic challenges for Jordanian ICT enterprises, even SMEs.
IT infrastructure initiatives
Jordan has a strong ICT infrastructure, particularly after the telecom industry was liberalized in 1999. Hardware and networking infrastructure are concerned.
Arabization of online content
A lot of Jordanian businesses “Arabize” their software and services. Arabization is the process of adapting content for global consumers to the Arab setting in addition to translating internationally successful products into Arabic.
Financial services and digital payments
Jordan was the first nation in the area to introduce the JoMoPay interoperable mobile payments system, which served as a pioneering platform for fintech and boosted financial inclusion.
E-Government
Jordan’s mid-term development strategy will heavily rely on e-government services.
Other opportunities
Technology suppliers in artificial intelligence (AI), the internet of things (IoT), automation, digital learning environments, and mobile applications should benefit from the ICT sector’s key areas. Also, in areas like media services, Over the Top (OTT) services, Internet Protocol Television (IPTV) media services, data privacy, blockchain, machine-to-machine (M2M), etc.
The ICT growth rate in Jordan
75% of the Arabic information on the internet comes from Jordan. With a 25% annual growth rate, the ICT sector is one of the Jordanian economy’s fastest-growing sectors. More than 84,000 people are employed in the sector, which also accounts for 12% of the GDP. There are 400 businesses in Jordan working in the fields of video game development, business outsourcing, online and mobile content, and telecommunications. Between 2015 and 2020, it is predicted that these ICT industry segments would generate more than 18,000 new jobs.
Jordan’s ICT industry has benefited from the monarchy’s assistance as well.
Is Jordan good for business?
Like many African nations, Jordan has a very open corporate environment. Almost any industry, including food, manufacturing, information technology, mining and natural resources, professional, telecommunications, broadcasting, and electronic media, as well as wholesale trade, can be entered into with little capital. Jordan is open to business establishment by foreign investors. While there are certain limitations on foreign ownership of property, there are no prohibitions on foreign ownership of businesses or assets.
