Jordan inaugurates 1st gold refinery, enhancing industry competitiveness

Jordan inaugurates 1st gold refinery, enhancing industry competitiveness
2024-08-05T21:11:24+00:00

Shafaq News/ On Monday, Jordan's Minister of Industry and Trade Youssef Al-Shamali inaugurated the country's first gold refinery at the International Company, a subsidiary of the Amseih Jewelry Group, marking a significant milestone for the nation’s gold industry.

The newly established refinery is equipped with advanced technology to refine gold bars of 14, 18, and 21 karats to 999.9 purity, and to convert raw materials into jewelry pieces destined for export to 54 countries worldwide.

Minister Al-Shamali highlighted the continuous development of Jordanian industry, emphasizing its responsiveness to government development plans to enhance national industry competitiveness, address market challenges, and expand global market access. These efforts are expected to create job opportunities, reduce unemployment, and increase export values.

The Minister affirmed the government's commitment to supporting the industrial sector through various programs and policies, recognizing its significant contribution to GDP, employment, and market stimulation. He emphasized the importance of a robust public-private partnership to effectively maximize economic returns and address sectoral issues.

Al-Shamali noted the recent advancements in Jordan’s gold and jewelry sector, which have seen record-high export figures. Jordan’s gold exports amounted to $1.1582 billion in 2023, a substantial increase from $659.9 million in 2022, reflecting a growth rate of 75.5%.

The sector currently employs 1,942 workers, with 83% being male, 17% female, and nearly 1% individuals with disabilities, across 419 establishments. Jordanians make up 86% of the workforce in this sector.

The Minister also pointed out that the Economic Modernization Vision and its executive program include clear targets to support national industry and meet its needs, positively impacting overall economic performance.

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