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Members of the Lower House’s finance committee on Tuesday discussed the 2018 draft budgets of the Labour Ministry and affiliated units including the Social Security Investment Fund.
MP Ahmad Safadi, head of the panel, said that an unemployment rate of 18 per cent requires effective and serious policies that contribute to addressing shortcomings in the labour market, Labour Minister Ali Ghezawi said that the ministry has adopted a new mechanism, in cooperation with the International Labour Organisation, to limit high unemployment rates, noting that the economy in 2017 created 2.5 million jobs, of which 1.4 million were for Jordanians.
The committee also discussed the budget of the Social Security Investment Fund with its Executive Chairman Suhair Al-Ali and went over projects the fund implements.
The Social Security Corporation (SSC) is a major investor in the tourism sector. Geographically, its portfolio covers most parts of the Kingdom through direct and indirect investments.
SSIF invests in the energy sector through strategic holdings in electricity generation and distribution companies, in addition to renewable energy projects
Al Daman for Development Zones Company (DDC) was established in 2009 as a private shareholding company fully owned by the Social Security Corporation. DDC is the investment arm of the Investment Fund for infrastructure development, services and marketing for the King Hussein Bin Talal Development Area in Al Mafraq and the Irbid Development Area
The value of the equity portfolio amounted to around JD 2,699.6 million as at 31/03/2025
The portfolio consists of money market instruments with maturity dates that do not exceed one year, such as deposits, treasury bills, repurchase agreements, certificates of deposit and current accounts.
The Fund invests in medium and long term loans through direct lending to the Jordanian Government and its public institutions, and also by participating in syndicated loans to companies for a period that is not less than one year.
In September 2020, SSIF established a wholly owned company that will launch an agricultural project in the south on an area of 30,000 dunums with a total investment of JD 13 million