 CHALLENGES AND FUTURE PROSPECTS |
In the past two years Jordan has gone through major changes. The recent death of King Hussein, the symbolism of the new millennium and the increasing pressures to diversify the economy - these were events which set the stage for a new chapter in Jordan's history. After years of protectionism, the government has taken the right steps to open up Jordan's economy.
King Abdullah was recently quoted as saying: "Our new beginning at the dawn of the century provides a model for peace, for regional cooperation and most importantly for hope to the young generation of the Middle East."
Indeed, Jordan's youth will hold the key to the country's future; they comprise over 60 per cent of the country's population. They are motivated and market-oriented, but they will require a modern and technical education to compete in the global arena.
| "It is not enough for our governments to simply activate the young talents of our societies and give them a say in the day-to-day running of our countries," said Her Majesty Queen Rania during a speech this spring. "We have to provide them with the right tools to affect change. This invariably leads us to the issue of technology and the role it plays in our modern lives."
In order to address this issue, Queen Rania has launched a nation-wide initiative to introduce computers and information technology to schools across Jordan and incorporate their use in the education system.
Foreign investments will also be essential to Jordan's development. Jordan is a small economy, and if it hopes to build its economic muscle it will have to attract foreign companies, establish joint-ventures and create international partnerships.
Mergers will be necessary to increase the attractiveness of the country's major industries. Companies in banking, pharmaceutical, information technology and insurance sectors will have to consolidate to compete internationally.
Yet it is the outcome of the peace process which will ultimately decide Jordan's economic landscape. If an accord is reached on both Syrian and Palestinian tracks, the situation will set the stage for political stability in the region. Moreover, it will most certainly take Jordan's reformed economy to new and greater heights. |
