Amman, Jan. 13 (Petra) – Following the royal launch of the second Executive Program for the Economic Modernization Vision (2026–2029), economic stakeholders and former officials are evaluating the framework’s potential to institutionalize reform and stimulate massive capital formation.

The consensus among analysts is that this JD10 billion roadmap serves as a definitive signal of the government’s intent to move beyond short-term planning toward a state-led trajectory where the private sector acts as the primary engine for GDP growth and employment.

Khleef Al-Khawaldeh, former Minister of Public Sector Development and Professor of Quality Management, emphasized that the program’s survival across changing government terms is its most significant feature.

He noted that the roadmap provides a necessary administrative reference for all ministries and state entities, allowing for the precise tracking of projects against estimated budgets and diverse funding sources, including international grants and Public-Private Partnerships (PPP).

For the first time, the program links the national modernization agenda directly to the state’s general budget, creating a mechanism for accountability and a structured framework for auditing government performance based on achieved results rather than just stated intentions.

The energy and industrial sectors are identified as the linchpins of this JD10 billion portfolio. Omar Al-Kurdi, Chairman of the National Electric Power Company, highlighted the strategic pivot toward utilizing domestic resources, specifically natural gas from the Risha field.

The program outlines the development of new gas-fired power plants on a Build-Operate-Transfer (BOT) basis, alongside a critical pipeline project connecting Risha to Khanasiri in the north. This infrastructure is expected to lower production costs across the manufacturing landscape and transform Risha into a specialized economic zone for energy-intensive ventures like ammonia production, effectively enhancing the "Made in Jordan" brand's global competitiveness.

Infrastructure and logistics are also poised for a capital-intensive overhaul. Malek Haddad, Secretary-General of the Arab Union for Land Transport, underscored the program’s focus on regional connectivity and sustainability.

Key initiatives include the revitalization of national railway networks and the expansion of the Port of Aqaba to solidify the Kingdom’s role as an Arab logistics hub. The program introduces innovative revenue-generation models, such as "user-pays" toll roads – specifically mentioning the Na'ur-Sweileh bridge route – and the modernization of the Jaber border crossing to accommodate the expected return of high-volume transit trade between the Gulf, Syria, and Europe.

On the legislative and parliamentary level, Khalid Abu Hassan, Chairman of the Parliamentary Economy and Investment Committee, noted that the program’s 392 projects across 25 sectors demonstrate a granular approach to development.

He pointed out that the newly established project-tracking and impact-measurement units within the Prime Ministry are designed to bridge the historical gap between policy design and execution.

Analysts like Fouad Kreishan and Ala'a Al-Bashayreh added that by focusing on high-growth sectors and digital transformation, the government is fostering an environment that attracts both domestic and foreign direct investment (FDI), while simultaneously aiming to reduce structural unemployment and ease the long-term debt burden on the national treasury.

//Petra// AA