AMMAN— His
Majesty King Abdullah on Tuesday stressed the need to increase the growth of
the entrepreneurship sector in Jordan, in line with the Economic Modernization
Vision, according to a Royal Court statement.
اضافة اعلان
At a
meeting with representatives of venture capital firms held at Al Husseiniya
Palace, King Abdullah called for focusing on the early stages of project
inception and developing innovative concepts through various support programs,
incubators, and workshops.
His
Majesty underscored the importance of facilitating the work of investment funds
and start-ups, enabling Jordan to achieve its objectives and compete globally.
At the
meeting, attended by HRH Prince Hussein, the King noted the importance of
implementing training programs to build the capacities of young Jordanians,
motivating them to start their own projects and maintaining the Kingdom's
position as an incubator of innovation and entrepreneurship.
Prime
Minister Bisher Khasawneh said the entrepreneurship sector in Jordan is ranked
fourth regionally, noting there are 17 venture capital funds for
entrepreneurial projects and over 40 incubators and accelerators in Jordan.
Digital
Economy and Entrepreneurship Minister Ahmad Hanandeh and Investment Minister
Khuloud Saqqaf gave a brief on the government's priorities in relation to the
entrepreneurship sector.
Minister
Hanandeh spoke of the national policy on entrepreneurship, which comprises an
executive plan with over 22 projects, noting that the ministry had signed
agreements with seven training providers to train university graduates.
The
ministry is also coordinating with Jordanian experts abroad to contribute to
the training of thousands of young men and women, the minister said.
According
to Hanandeh, the year 2021 saw an increase in the investment volume in start-ups in Jordan, reaching
nearly JD120 million, compared to JD20 million in 2020.
For her
part, Saqqaf highlighted the need to encourage innovation and investment in start-ups, as well as providing a
suitable doing of business environment to facilitate procedures and ensure
legislative stability.
His
Majesty listened to attendees’ ideas on means of utilising the available
resources at funds in Jordan, which was among the first countries in the region
to create an entrepreneurship ecosystem.
Participants
pointed to the economic importance of the entrepreneurship sector, calling
for increasing funds for research and development at start-ups, to enable them
to expand their scope and innovation.
They
identified challenges facing some start-ups in attracting investments at the
stage following ideation, and suggested measures to facilitate access to
finance.
In
addition, they called for revisiting regulations governing start-ups to ensure
flexibility in procedures.
They
called for boosting investments in women-led start-ups, in order to increase women’s
contribution to the national economy.
Jordan
is home to over 200 registered start-ups, in addition to 14 investment funds
that have collectively allocated $110 million to invest in Jordan.
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