Jordan
The Middle East heavily relies on oil and gas revenue to drive economic growth – but, unlike most countries in the region, Jordan lacks commercially viable petroleum deposits. In-house counsel across the country reveal how Jordan, despite lacking oil and gas reserves, has maintained a reputation as a secure and stable business hub in the region.
Since 2009, Jordan has faced a raft of challenges: the global financial crisis, the Arab Spring, border closures with Iraq and Syria, as well as a massive refugee influx. These events have placed immense pressure on Jordan’s economic and political prospects. Yet, despite this, Jordan has retained its status as an important commercial hub within the Middle East.
Jordan is proudly described as the business capital of the Levant. Despite lacking valuable oil and gas reserves, it has managed to build a strong economic base around its manufacturing, finance and banking sectors.
