Although the global technology sector has fallen dramatically in the financial markets over the last 18 months, the majority of investors in Jordan’s burgeoning IT industry are satisfied, according to a new poll by int@j, the Information Technology Association of Jordan. Some 63 percent regarded their investments as “successful”, while 81 percent of those said they would be willing to increase their funds in the industry.
Total investments in the Jordanian IT sector, at the end of December 2000, stood at almost $60 million. “Figures for 2001 are expected to be equally impressive,” said Karim Kawar, chairman of int@j, a non-profit, private organization who’s mission is to represent, promote and advance the Jordanian software and IT services industry in the global market.
Annual exports currently stand at an estimated $40 million, a growth rate of 349 percent since 1999. REACH is a national strategy for Jordan to develop a vibrant, export-orientated IT services sector, paving the way for Jordan to become a regional leader and internationally recognized exporter of IT products and services. It’s five-year plan targets generating 30,000 IT and IT-related jobs by 2004, $550 million in IT exports by 2004 and $150 million in cumulative foreign direct investment by 2004.
In the survey, 80 major companies—most of which specialize in IT—were asked for their impressions of doing business in Jordan, and their feelings on investment in the sector. While some respondents seemed happy with the current situation, others called for less bureaucracy, new laws and fewer restrictions.
The results indicate that the majority of investors—63 percent—perceive their investments in Jordan's ICT sector as successful, regardless of global trends. 81 percent of those who considered their investments successful said they would invest again. 14 percent felt that it was premature to determine the full extent of their success.
Of the 21 percent of respondents who perceived their investments as having failed, 25 percent of them are ready to invest again, while 17 percent more would consider re-investing in Jordan's ICT sector.
int@j sources forecast Jordan's ICT industry will boom over the next five years, with a world-beating nationwide high speed Internet connection, an IT infrastructure scheme, foreign direct investment plans and employment schemes based around making the most of the skilled young labor pool.
The Jordanian government and int@j, which focuses on the software and IT services sector, are making strides towards establishing Jordan as a key regional IT player, providing a supportive business environment with an advanced technological infrastructure, flexible government participation and a strong labor market for large companies wishing to establish regional business units in the country. — (menareport.com)
© 2001 Mena Report (www.menareport.com)
