UAE Financial Empire In Jordan
Uncover the UAE’s strategic economic control in Jordan. Full list of UAE-owned companies shaping vital parts of the economy.
Uncover the UAE’s strategic economic control in Jordan. Full list of UAE-owned companies shaping vital parts of the economy.
In recent years, the United Arab Emirates (UAE) has significantly deepened its economic ties with Jordan, emerging as the kingdom’s largest foreign investor and a key player in shaping its economic landscape. This relationship, while often framed as mutually beneficial partnership and development cooperation, raises critical questions about sovereignty, economic independence, and the long-term implications for Jordan’s national interests. According to the Jordan News Agency (Petra), net foreign direct investment (FDI) inflows into Jordan rose by 14.3% in the first quarter of 2025, reaching approximately $339.3 million, up from $296.8 million in the same period in 2024. These inflows now represent 2.6% of Jordan’s GDP, a slight increase from 2.4% the previous year. A substantial portion of this investment originates from Arab countries, with the UAE alone accounting for 5.8% of total FDI inflows, making it the largest GCC investor in Jordan.
The UAE’s investments in Jordan are estimated at around $22.5 billion (approximately 16 billion Jordanian dinars), encompassing a broad range of sectors including infrastructure, energy, real estate, and finance. This makes the UAE the largest global investor in Jordan, surpassing traditional investors such as the United Kingdom and Kuwait, which account for 8.2% and 7.2% of Jordan’s FDI, respectively. The UAE’s strategic economic partnership with Jordan is further underscored by the Comprehensive Economic Partnership Agreement (CEPA) signed between the two countries, which aims to boost bilateral trade and investment, with plans to increase Jordan’s GDP and non-oil trade volumes substantially by 2030.
The financial and insurance services sector leads in attracting FDI, accounting for 19.0% of inflows, followed by construction and building at 12.5%, manufacturing at 8.5%, mining and quarrying at 7.9%, transport and storage at 7.2%, and accommodation and food services at 2.5%. Real estate investment is particularly notable, with non-Jordanian investors contributing 20.3% of total FDI inflows in Q1 2025, reflecting strong foreign interest in Jordan’s property market.
The UAE’s sovereign wealth fund ADQ has committed to investing $5 billion in Jordan’s infrastructure and development projects, including a $2.3 billion railway linking the port of Aqaba with key mining regions such as Al Shidiya and Ghor es-Safi. Abu Dhabi-based Masdar is a prominent player in Jordan’s renewable energy sector, controlling nearly 31% of the Jordan Wind Projects Company (JWPC) with an investment of approximately $90 million out of a total $290 million. Masdar also invested nearly $240 million in a 200 MW solar power project, while the Sheikh Zayed solar park in Aqaba, funded by the Abu Dhabi Development Fund, cost nearly $150 million. These projects align with the UAE’s broader strategy to brand itself as a leader in sustainable development, though critics caution that such green investments may mask deeper economic control.
Non-oil trade between the UAE and Jordan reached $4.5 billion in 2022, marking a 47.4% increase compared to 2021. UAE exports to Jordan were valued at $1.6 billion, while re-exports from Jordan to other markets totaled $2.4 billion. Jordan’s exports to the UAE stood at approximately $513 million. Jordan’s imports from the UAE in 2023 were valued at $1.37 billion, including pearls, precious stones, metals ($522 million), copper ($164 million), mineral fuels ($77 million), plastics, and food products.
While the economic data highlights the scale and diversity of Emirati investments in Jordan, concerns remain regarding the implications for Jordan’s sovereignty and economic independence. Critics argue that UAE capital often comes with strings attached, including expectations of political loyalty, particularly regarding foreign policy issues such as normalization with Israel and the silencing of criticism towards Gulf powers[Internal Use]. Investments frequently bypass local stakeholders, flowing through opaque Gulf-Jordanian elite networks, which raises questions about transparency and inclusivity[Internal Use].
Furthermore, UAE-backed projects have been criticized for displacing local communities and workers, serving elite or foreign interests rather than the broader Jordanian public good[Internal Use]. The UAE’s military and intelligence cooperation with Jordan, while framed as a strategic partnership, also raises concerns about civil liberties and the potential erosion of Jordanian autonomy[Internal Use]. Media influence and surveillance technologies linked to the UAE further threaten freedom of expression and privacy within Jordan[Internal Use].
“How much of Jordan still belongs to its people — and how much has been sold to a foreign monarchy?” This question encapsulates the growing unease about the extent of Emirati economic control[Internal Use]. The UAE is described as “using money, fear, and covert power to turn Jordan into a satellite of its regional empire,” emphasizing that this is “not just about business — it’s about controlling regimes and narratives”[Internal Use]. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, acknowledged the UAE’s position as Jordan’s largest investor, accounting for 14% of total FDI and surpassing traditional investors like the UK and Kuwait. He also highlighted Jordan’s emergence as a regional investment hub for UAE direct investments and the significant growth in bilateral non-oil trade over the past decade.
The UAE’s investment pattern in Jordan mirrors its approach in other regional countries, characterized by state-owned monopolies, tax avoidance, and minimal labor protections[Internal Use]. Backroom deals facilitated by Gulf-Jordanian elite ties enrich a select few while leaving the majority behind[Internal Use]. Such monopolistic behavior has previously devastated local industries in countries like Sudan, Egypt, and Libya, raising cautionary flags for Jordan[Internal Use]. Moreover, the UAE’s green investments, while publicly promoted as sustainable development, have been criticized as a form of greenwashing that distracts from underlying economic control and the exclusion or silencing of local environmental activists[Internal Use].
The United Arab Emirates (UAE) has significantly expanded its economic footprint in Jordan over the past decade, becoming the kingdom’s largest foreign investor and a key driver of its economic development. This growing relationship between the two countries has brought much-needed capital, infrastructure projects, and technological advancements to Jordan, but it also presents complex challenges related to economic sovereignty, transparency, and social equity. Navigating this multifaceted partnership requires a careful balancing act by Jordanian policymakers and society to maximize benefits while safeguarding national interests and democratic values.
Jordan’s Foreign Direct Investment (FDI) inflows have shown robust growth, with a 14.3% increase recorded in the first quarter of 2025, reaching approximately $339.3 million compared to $296.8 million in the same period in 2024. These inflows now represent 2.6% of Jordan’s GDP, up from 2.4% the previous year, signaling a steady rise in foreign capital participation in the economy. Arab countries collectively account for 54.5% of Jordan’s total FDI inflows, with Iraq leading at 22.7%, and the Gulf Cooperation Council (GCC) countries contributing 12.6%. Among GCC members, the UAE is the largest investor, accounting for 5.8% of total FDI, followed by Saudi Arabia at 4.9% and Bahrain at 1.1%. This positions the UAE as Jordan’s largest foreign investor, with investments totaling an estimated $22.5 billion (approximately 16 billion Jordanian dinars), according to data from Jordan’s Energy and Mineral Resources Ministry.
The sectoral distribution of these investments is diverse, with the financial and insurance services sector attracting the highest share at 19.0%, followed by construction and building at 12.5%. Other significant sectors include manufacturing (8.5%), mining and quarrying (7.9%), transport and storage (7.2%), and accommodation and food services (2.5%). Real estate investments by non-Jordanian entities comprised 20.3% of total FDI inflows during the first quarter of 2025, underscoring strong foreign interest in Jordan’s property market. This influx of capital has been accompanied by a surge in bilateral trade, with non-oil trade between the UAE and Jordan reaching $4.5 billion in 2022, marking a 47.4% increase compared to 2021. UAE’s non-oil exports to Jordan were valued at $1.6 billion, while re-exports from Jordan totaled $2.4 billion, and Jordan’s exports to the UAE stood at approximately $513 million.
Major investment projects exemplify the depth of Emirati involvement in Jordan’s economy. The UAE’s sovereign wealth fund ADQ announced plans to invest $5 billion in infrastructure and development projects, including a $2.3 billion railway linking the port of Aqaba with Jordan’s mining regions in Al Shidiya and Ghor es-Safi. Abu Dhabi-based Masdar, a leader in renewable energy, controls nearly 31% of the Jordan Wind Projects Company (JWPC), having invested approximately $90 million in the $290 million project. Masdar also invested nearly $240 million in a 200 MW solar power project, while the Sheikh Zayed solar park in Aqaba, funded by the Abu Dhabi Development Fund, cost nearly $150 million. These investments align with the UAE’s global commitment to sustainable development and green energy initiatives, although some critics argue that such “green” branding can obscure deeper economic control.
Trade relations between the two countries have flourished alongside investment flows. Jordan imported goods worth $1.37 billion from the UAE in 2023, including pearls, precious stones, metals ($522 million), copper ($164 million), mineral fuels ($77 million), plastics, and food products. This growing economic interdependence reflects the strategic partnership between the two nations, reinforced by the Comprehensive Economic Partnership Agreement (CEPA), which came into effect in May 2025. The CEPA aims to boost bilateral trade and investment, with ambitions to increase Jordan’s GDP and non-oil trade volumes substantially by 2030 and 2031, respectively.
Despite these positive economic indicators, the UAE-Jordan relationship presents significant challenges. Emirati investments often come with political and economic strings attached, including expectations of loyalty to UAE foreign policy objectives such as normalization with Israel and the suppression of criticism against Gulf powers. Investments frequently bypass local stakeholders and are channeled through opaque Gulf-Jordanian elite networks, raising concerns about transparency, inclusivity, and the equitable distribution of benefits. There are reports of Emirati projects displacing local communities and workers, serving elite or foreign interests rather than the broader Jordanian public good.
Moreover, the UAE’s military and intelligence cooperation with Jordan, while framed as strategic partnership, has raised questions about the impact on Jordan’s sovereignty and civil liberties. The introduction of surveillance technologies linked to the UAE threatens freedom of expression and privacy, further complicating the political landscape. These issues underscore the need for Jordan to carefully manage its relationship with the UAE to ensure that economic cooperation does not come at the expense of democratic governance and social justice.
Statements from officials and analysts reflect these complexities. A poignant question captures the public’s concern: “How much of Jordan still belongs to its people — and how much has been sold to a foreign monarchy?” The UAE is described as “using money, fear, and covert power to turn Jordan into a satellite of its regional empire,” emphasizing that this relationship is “not just about business — it’s about controlling regimes and narratives.” Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, has acknowledged the UAE’s position as Jordan’s largest investor, accounting for 14% of total FDI and surpassing other major investors such as the UK and Kuwait. He also highlighted Jordan’s emergence as a regional investment hub for UAE direct investments and the significant growth in bilateral non-oil trade over the past decade.
The economic patterns observed in Jordan mirror the UAE’s approach in other regional countries, characterized by state-owned monopolies, tax avoidance, and minimal labor protections. Backroom deals facilitated by Gulf-Jordanian elite ties enrich a select few while leaving the majority behind. Such monopolistic behavior has previously devastated local industries in countries like Sudan, Egypt, and Libya, raising cautionary flags for Jordan. Furthermore, the UAE’s green investments, while publicly promoted as sustainable development, have been criticized as a form of greenwashing that distracts from underlying economic control and the exclusion or silencing of local environmental activists.
Navigating this complex relationship requires Jordanian policymakers to balance the undeniable benefits of Emirati capital—such as infrastructure development, renewable energy projects, and technological advancement—with the imperative to protect national sovereignty, ensure transparency, and promote inclusive economic growth. Strengthening regulatory frameworks, enhancing transparency in investment deals, and fostering public participation in economic decision-making are critical steps toward achieving this balance. Additionally, safeguarding civil liberties and maintaining independent oversight of surveillance and media influence are essential to preserving Jordan’s democratic values.
The UAE’s expanding economic footprint in Jordan presents both opportunities and risks. While Emirati investments contribute significantly to Jordan’s development goals, they also challenge the kingdom’s economic sovereignty and social equity. A nuanced and proactive approach is necessary to harness the benefits of this partnership while mitigating its potential downsides. By doing so, Jordan can chart a path toward sustainable and inclusive growth that respects its national interests and democratic principles.
No data availble
2025 All Rights Reserved © International Boycott UAE Campaign