JIMEX 2011: One platform under one room

Under the Patronage of His Excellency the Prime Minister, JIMEX 2011, the 8th International Machines and Electro-me chanical Exhibition will be organised from 13- 16 June 2011 at the Halls of Amman International Motor Show Centre near the Ministry of Foreign Affairs.

JIMEX 2011 expects to successfully complete this cycle with the confidence of a better economic environment. The event was able to reach or even to exceed its target. JIMEX is not only the event of "Face to Face Business" but could prove that it is really Event of "Eye to Eye Dialogue". It is a valuable platform to create business and trade relations. The organisers have received tens of statements including thanks and appreciation of well organised event.

It is planned that JIMEX 2011 will continue its success with participation of 135 to 140 exhibitors representing more than 500 trademarks. The event will be organised in cooperation with its strategy partners, Jordan Engineers Association (JEA), National Research Institutes, Tuyape of Turkey and other national and international organisations.

JIMEX Forum will be organised in cooperation with national and international organisations of major topics: industrial automation and energy saving in the industrial machinery; in addition to professional workshops and promotional presentations.

 Jordan's economy to grow 5% in 2011

Jordan's e conomi c growth wi l l accelerate to 5% in 2011 from a projected 4% this year, Finance Minister Mohammad Abu Hammour said in an article posted in BI-ME with Bloomberg.

"This will be a result of measures the government has taken like lowering of the income tax by between 15%-50% on various industries and big infrastructure projects like a railway project, and the current expansion of the airport," Abu Hammour told. "The economy has also been on the rebound and exports in the first eight months grew 15%."

Jordan's economic growth accelerated to an annual 2.9% in the second quarter of 2010, led by the mining and transport industries. The rate compares with 2% growth in the previous quarter. As one of the smallest economies in the Middle East, Jordan imports more than 90% of its oil and relies on foreign investment and grants to finance deficits in the budget and the current account.

Foreign grants more than doubled in the first eight months of 2010 to JOD249  million (US$350 million), compared with JOD103 million in the same period of 2009.

The kingdom's budget deficit narrowed to JOD428 million (US$601 million) in the first eight months of 2010 from JOD758 million (US1.06 billion) in the same period in 2009 after the receipt of grants and a reduction in government spending. The projected budget deficit for this year after grants is JOD1 billion (US$1.40 billion) or 6% of gross domestic product, compared with about 9% last year.

The government plans to cut the fiscal deficit to 5% next year and reduce operational expenses by 15% while increasing capital expenditures by 16%, Abu Hammour said.

Jordan hired JPMorgan Chase & Co., HSBC Holdings Plc, Credit Suisse Group AG and Arab Bank Plc last month to manage the sale of a US$500 million Eurobond to help finance the nation's budget deficit.

Jordan's foreign debt increased by 1.6% to JOD3.93 billion (US5.52 billion) in the first seven months of 2010, the Ministry of Finance said. Domestic debt increased 10.6% to JOD6.4 billion (US$8.9 billion).

Date: June13-16 2011.
Venue: Halls of Amman Intl Motor
Show Centre, Amman, Jordan