Amman, Sept. 23 (Petra) -- The Jordan Enterprise Development Corporation (JEDCO) stressed the importance of innovation, research and development (R&D) in boosting the "competitiveness" and expansion of Jordan’s pharmaceutical industry.

JEDCO Executive Director Ghaleb Hijazi Wednesday said "stronger" cooperation among the Kingdom's public and private sectors, academia and research institutions is needed to turn research into marketable products and technologies.

Speaking at a JEDCO workshop held in cooperation with the Amman Chamber of Industry and Jordan Society for Scientific Research (JSSR), Hijazi said the event aims to identify key drivers and barriers to innovation and develop practical recommendations to support R&D, innovation and technology transfer.

Khaled Khraisat, a board member of the JSSR, said pharmaceutical exports exceed JD600 million annually and reach more than 78 countries, as exports accounted for over 70 percent of local production.

He said the Economic Modernisation Vision targets increasing exports to more than JD2 billion and direct employment in the sector to over 16,000.

In turn, Amman Chamber of Industry representative Bashar Yaghmour said pharmaceutical and medical supplies account for about 11 percent of manufacturing output and around 40 percent of the local market.

He announced exports rose from JD435.7 million in 2020 to JD650.2 million in 2025, with a target of about JD2.1 billion by 2033.

Among the sector’s main challenges, he cited high R&D costs, lengthy product registration procedures, difficulties commercializing research and limited innovation funding.

As for its agenda, the workshop also discussed ways to speed up registration of innovative medicines, financing research and innovation projects, and strengthen links between universities, research centers and pharmaceutical manufacturers.

//Petra// NQ