Amman: Representative of Therapeutic Industries and Medical Supply Sector in Jordan Chamber of Industry (JCI), Fadi Atrash, said the sector’s exports grew “significantly” during the past year by a rate of 6.3%.
In a statement to “Petra,” Atrash noted exports of the three sub-sectors: (Human medicines, veterinary medicines, pesticides, and medical supplies) amounted to about JD736 million last year, compared to JD692 million in 2022, moving up to the 6th place among other sectors, in terms of exports and ranking 5th in positive growth.
The therapeutic industries and medical supplies sector includes 151 establishments, with registered capital amounting to about JD341 million, while a total of 15 Jordanian factories operate outside the Kingdom, located in Saudi Arabia, Algeria, Egypt, Morocco and Sudan, according to statistical figures from the Kingdom’s three industry chambers.
Atrash added that the human pharmaceutical sector constituted the largest share of exports during the past year, with a value of JD6
20 million, marking a growth rate of 19%, compared to 2022, the statistics showed.
Atrash pointed to His Majesty King Abdullah II’s support to the sector, referring to His Majesty’s meeting with its representatives, emphasizing importance of maintaining Jordan’s entrepreneurial role and leadership in the field of pharmaceutical production and necessity of cooperation among its institutions to overcome any obstacles impeding its work and address hardships that hinder its progress and growth.
Atrash stressed that the step to include the sector in Economic Modernization Vision (EMV) had a “significant” impact in facilitating multiple procedures and accelerating registration processes, which had a direct and “positive” impact on export growth.
The vision aspires to advance the sector to make Jordan a regional center for pharmaceutical products and bring high added value to the industry of up to 55% of total production at a value of JD850 million.
Additionally, the vision seeks to raise the sector’s exports to
JD2.1 billion , employ 16,000 people, and increase contribution to the gross domestic product to reach JD1.7 billion by 2033.
The EMV also eyes to attract investments to the sector estimated at approximately JD1.1 billion over ten years, aimed to improve its business to become a regional center for pharmaceutical products, by using technologies, developing new drugs, focusing on expansion and entry into new markets, and achieving pharmaceutical security for Jordan and the region.
Source: Jordan News Agency
