Jordan's Alyoum Bakery is poised to expand its operations and introduce new product categories following a recent agreement with the Saudi Jordanian Investment Co. (SJIC), a wholly owned subsidiary of the Public Investment Fund (PIF).

This strategic partnership is designed to augment the existing capabilities of the industrial-scale baked goods producer, thus supporting a long-term growth strategy.

The investment aligns with SJIC's broader objective of identifying new investment opportunities within Jordan that promote sustainable economic partnerships and deliver long-term returns.

The economic relationship between Jordan and Saudi Arabia has strengthened in recent years, with trade between the two nations reaching $29.7 billion from 2018 to 2024. This increase is notable, as trade volume stood at roughly 2.89 billion Jordanian dinars ($4.07 billion) in 2018, eventually rising to 3.74 billion dinars by the first 11 months of 2024, data from the Amman Chamber of Commerce indicates.

"We are delighted to mark this milestone cooperation with this well-established firm, and we look forward to working with Alyoum Bakery and contributing to the company’s growth.

This transaction is part of SJIC’s strategy to focus on key promising sectors which are important for economic development," stated Muteb Al-Shathri, acting CEO of SJIC.

Al-Shathri further emphasized that the partnerships being forged with leading Jordanian companies are critical to future success.

Alyoum Bakery's co-founder, Mahmoud Khalil, expressed that this investment represents a significant milestone for the company, indicating the start of a new phase in its journey.

Khalil articulated excitement regarding SJIC’s commitment, which is expected to facilitate the implementation of key elements of their organic growth strategy, particularly in enhancing production efficiency and product availability, while also expanding the distribution network both within Jordan and neighboring markets.

Established in 2017, the Saudi Jordanian Investment Fund is a public limited firm wholly owned by SJIC, and it specializes in investments targeting Jordan's infrastructure and high-growth sectors.

With a capital commitment of $3 billion, the fund prioritizes strategic, sustainable, and economically viable investments within Jordan's critical sectors.

In February 2024, discussions at the Saudi-Jordanian Business Council focused on expediting customs procedures and simplifying trade transactions.

Further cooperation enhancements were also discussed, specifically in areas such as logistics infrastructure, renewable energy, and food security.