SSIF CEO: Leveraging Governorates Competitive Advantages through Strategic Investments in Key Sectors

Amman Group for Future Dialogues recently convened a seminar headlined by the CEO of the Social Security Investment Fund Dr. Ezzeddin Kanakrieh.

During the seminar moderated by the Group's Director Bilal Al -Tal, Kanakrieh provided insights into the latest financial performance figures of the investment portfolios, highlighting   the notable growth of SSIF assets, rising by JD 1.1 billion over the past year to reach approximately JD 14.9 billion by the end of 2023. This growth, compared to JD 13.8 billion at the end of 2022, equated to a commendable growth rate of 7.6%, as per preliminary financial data for 2023.

The income generated from investment portfolios also witnessed a notable surge of 17.3%, reaching around JD 802 million by the end of 2023, in contrast to approximately JD 684 million at the end of 2022.

Kanakrieh underscored the diversification of the Fund's investment portfolio, encompassing various financial instruments such as bonds, equities, money market instruments, loans, and real estate and tourism investments. Despite the flux in economic sectors due to regional circumstances, this diversification yielded positive results.

Highlighting the prudential nature of the Fund's investment strategy, Kanakrieh emphasized its adherence to professional principles and forward-looking perspectives, grounded in meticulously considered assumptions transcending immediate circumstances.

Moreover, the Fund endeavors to fortify its investments sustainably by leveraging the governorates' competitive advantages, establishing viable new investments, and expanding feasible projects in promising sectors. These investments play a pivotal role in stimulating economic activity, fostering employment opportunities, and fortifying the financial position of social security.

Attendees reviewed the Fund's investments across various sectors, including banking, mining, services, pharmaceuticals, energy, tourism, agriculture, real estate development, and developmental regions. Discussions also revolved around the Fund's role in enhancing investor confidence in the national economy and supporting companies' adoption of sound institutional practices.

The seminar concluded with a review of the Fund's investment plan for 2024, focusing on expanding investments in energy, mining, and real estate development sectors, alongside interest in major national projects in partnership with private sector institutional investors.

SSIF CEO commended the pivotal role of the Amman Future Dialogues Group in spotlighting national achievements, providing constructive criticism, building an enlightened public opinion, and ultimately achieving the lofty royal vision and the goals of the comprehensive national development project.