Amman, July 13 (Petra) – Sector-specific workshops for the second phase of Jordan’s Economic Modernization Vision (EMV) kicked off Sunday at the Royal Hashemite Court, marking three years since the vision was launched under royal directives.

The initial day focused on water, public services, and financial markets, with participation from experts and specialists. The workshops aim to evaluate progress, accelerate implementation, and refine initiatives to create tangible improvements in citizens’ lives.

Experts in the water sector told the Jordan News Agency (Petra) that the workshop is crucial for reviewing past efforts and enhancing future impact. They praised the progress made, particularly in water management.

Munjed Al-Sharif, professor of water and environmental engineering at the German Jordanian University, emphasized the importance of evaluating achievements since the launch of the modernization vision. He said this stage requires a comprehensive review of sectoral performance and results.

Speaking on the sidelines of the workshop, Al-Sharif said it offered a platform to assess challenges and measure goal attainment across sectors. He noted notable progress in water, emphasizing its close ties to agriculture, environment, and energy highlighting the need for an integrated approach to water management.

Al-Sharif described the initiatives undertaken in recent years as effective and expressed optimism for further achievements. Despite the short time frame and multiple challenges, he said, the current round of consultations allows for valuable lessons to speed up progress in the coming phase.

Dureid Mahasneh, chairman of the EDAMA Association and a water expert, said the water-sector workshop reviewed achievements over the past three years and proposed recommendations to improve the sector. He highlighted discussions around water security, resource management, reducing water loss, and maintaining water quality.

Mahasneh identified several pressing challenges, including water scarcity, resource security, climate change, and forced migration, which has placed a heavy burden on Jordan’s limited water resources. Among the key successes, he noted a reduction in non-revenue water from 52% to 49% over the past three years a positive trend that must be sustained.

Participants emphasized that the royal patronage of the modernization vision ensures its continued implementation across successive governments.

Maha Bahou, CEO of the Jordan Payments and Clearing Company (JoPACC), said that His Majesty King Abdullah II and HRH Crown Prince Al Hussein bin Abdullah II remain committed to collaborative national development. She recalled that the Royal Court hosted over 500 participants from various economic sectors in 2022 to formulate the vision.

Bahou said this participatory process enabled the government to develop the 2023–2025 executive plan and that today’s second phase offers an opportunity to assess accomplishments and develop new recommendations in light of evolving technologies and challenges.

She stressed the importance of a structured and inclusive approach to this second phase, built on the vision as a core reference. The aim is to identify key strengths, address challenges, and uncover opportunities for improved performance and empowerment.

These workshops, Bahou added, will help shape the executive program for 2026–2029.

She noted the growing importance of the financial and banking sectors, especially fintech, which is increasingly critical to advancing digital services. Beyond digital payments, the focus is now on broader financial inclusion and supporting the digital economy.

Among notable initiatives, Bahou highlighted the launch of a national digital ID system, integrated with secure digital signatures through the Central Bank of Jordan. This allows clients to verify identity and access financial services efficiently, enhancing trust and simplifying financing procedures establishing a foundation for further innovation.

These ongoing efforts, Bahou said, underscore Jordan’s dedication to building a comprehensive digital economy that supports quality of life, job creation, and sustainable growth while prioritizing youth empowerment and local innovation to strengthen Jordan’s global standing in fintech.

Majed Smeirat, president of the Jordan Insurance Federation (JIF), said the first phase of the vision has undergone a thorough review, particularly in the insurance sector, which forms an essential part of the financial system.

He pointed to substantial reforms, such as updates to the mandatory vehicle insurance system and the Insurance Contract Law, expected to be presented to Parliament during the upcoming session. These were long-standing demands of the insurance industry.

Smeirat also highlighted new legislation and regulations that have enhanced the sector’s role and effectiveness.

He praised the Central Bank’s regulatory oversight, which has improved the performance of various financial institutions, including insurance companies.

Looking ahead, the JIF seeks to increase the sector’s contribution to GDP by strengthening regulations and promoting a more flexible, investment-friendly environment. Smeirat reiterated that insurance remains a vital pillar of economic modernization, with a mission to deliver high-quality services that meet public expectations.

//Petra// AF
13/07/2025 22:04:38