Gov’t earmarks JD40m of 2023 budget to support industry

(Photo: Jordan News Agency, Petra)


AMMAN — The government has allocated JD40 million from the 2023 general budget draft law to the Industry Support and Development Fund, as part of the government’s economic priorities program 2021–2023, according to Al-Mamlaka TV.

اضافة اعلان


The amount allocated represents the largest share of capital projects allocated to the Ministry of Industry, Trade, and Supply, amounting to JD43.8 million as new expenditure, with JD2.2 million as expenditure for projects under implementation.


According to the Prime Ministry, the Industry Support and Development Fund was approved by the government with the aim of alleviating the burden of production and other costs on the national industry, to help enhance its competitiveness and thus enter new markets.


It also aims to diversify sources of national income, create jobs, alleviate poverty and unemployment in the Kingdom, increase exports and sales, and provide additional jobs, in addition to contributing to increasing the GDP growth rates, and maximizing the national economy benefits by giving Jordanian products a competitive advantage in domestic and global markets.


Among the ministry’s projects included in the draft budget law: preparing and implementing the National Export Strategy with allocations of JD2.2 million, building a database for various manufacturing sectors and developing strategies for them amounting to JD300,000.


The draft budget also allocated JD100,000 to develop e-commerce, JD30,000 to establish a price database for goods and services (price monitor), and JD180,000 for a project to prepare a national strategy and roadmap to promote the engineering industries sector locally and internationally.


It also allocated JD100,000 for a project to prepare detailed feasibility studies to encourage engineering products of fast-growing categories, and JD60,000 to establish a center for research, development and innovation that focuses on solutions for engineering products with great potential, value chains and commercial exploitation opportunities, while JD220,000 was allocated for a project to spread and encourage the use of technologies.


The draft budget for next year allocated JD160,000 to increase the interconnection of the engineering industries and other sectors to enhance competitiveness, and JD230,000 for a project to integrate vocational skills within school and industrial training programs, and create an enabling environment, in addition to JD10,000 for general maintenance of the Ghor Al-Safi Feed Center in Karak Governorate


The draft law shows that the ministry’s total capital and current expenditures next year amount to JD56.9 million; JD10.6 million are current expenditures.


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