The Ministry of Industry, Trade, and Supply launched on Sunday the "Industrial Entrepreneurship" program, implemented through the Industry Support and Development Fund. Financed by a €35 million grant from the German government, the initiative aims to support 370 micro, small, and medium-sized enterprises (MSMEs) to enhance the industrial sector's competitiveness, boost exports, and create job opportunities.
اضافة اعلان
The program provides non-refundable grants to eligible industrial enterprises based on specific criteria and standards. Grant caps are set at JOD 25,000 for micro-enterprises, JOD 50,000 for small enterprises, and JOD 100,000 for medium-sized enterprises.
Additionally, €10 million has been earmarked to support MSMEs toward women's economic empowerment. This will be achieved by backing female-led enterprises and providing technical and logistical assistance to support the program.
The Industry Support and Development Fund will cover up to 70% of eligible project costs, while the beneficiary will bear the remaining 30%. The fund's contribution will rise to 80% for enterprises owned or managed by women, or those that create job opportunities for females.
The launching ceremony featured a panel discussion titled "The Future of Industry in Jordan: Entrepreneurship, Competitiveness, and International Partnerships." The session was moderated by the Director of the Industry Support and Development Fund, Eng. Mamoun Abu Shawar, with the participation of the Ministry's Secretary-General, Dana Al-Zoubi; the Director of the German Development Bank (KfW) office in Jordan, Dr. Matthias Schmidt-Rosen; Vice President of the Jordan Chamber of Industry, Mohammad Al-Jitan; and the World Bank Group Task Team Leader, Mohammad Abdel-Qader.
Al-Zoubi affirmed that the government is moving forward with its clear vision to back the industrial sector, in alignment with the Economic Modernization Vision and the Industrial Policy (2024-2028), thereby enhancing the competitiveness of Jordanian industry and raising its contribution to economic growth.
She added that the industrial sector represents a cornerstone of the national economy, accounting for nearly a quarter of the GDP and contributing approximately 45% of the economic growth recorded last year. This played a pivotal role in achieving GDP growth rates that exceeded the forecasts of several international institutions.
Al-Zoubi explained that the industrial policy aims to strengthen the sector's competitiveness, empower it in local and foreign markets, increase the value-added of Jordanian industries, diversify national products, and expand the export base. She noted that the Industry Support and Development Fund is one of the most critical tools for executing this policy.
She pointed out that the outcomes of the fund’s programs are already reflected in the sector's performance, having helped boost Jordanian exports by over 10% last year, while industrial exports during the current year have recorded higher growth rates compared to previous years.
Al-Zoubi detailed that out of more than 2,500 applications submitted to benefit from the fund's programs, 635 industrial companies have benefited so far. These companies saw their sales increase by over 30% and their exports grow by nearly 40%. Furthermore, the program has helped generate around 4,111 job opportunities to date, reflecting the positive impact of sustained industrial support on corporate performance and economic growth indicators.
She also revealed preliminary understandings with the World Bank to secure additional funding estimated at JOD 60 million for the period (2027-2029), aimed at expanding the scope of industrial support programs and amplifying their economic impact.
She emphasized that the "Industrial Entrepreneurship" program will pay special attention to the economic empowerment of women in the industrial sector by supporting female-managed enterprises and establishing nurseries in industrial cities and clusters. This will help address the challenges faced by working women and enhance their participation in the labor market.
Al-Zoubi stressed that the government will continue to provide various forms of support and financing to the industrial sector, alongside developing tools and policies capable of tackling the challenges confronting industrialists to boost competitiveness and support growth in the coming phase.
For his part, Al-Jitan stated that more than 90% of industrial facilities in the Kingdom fall under the category of small and medium-sized enterprises (SMEs), making them in continuous need of financing programs that assist them in expanding and increasing competitiveness.
He added that the most prominent challenges facing the sector include difficulties in accessing finance and high operating costs, stressing that the Industry Support and Development Fund's programs have mitigated these challenges and helped companies raise productivity, increase exports, and access new markets.
Meanwhile, Abdel-Qader noted that the "Industrial Entrepreneurship" program is the culmination of a three-year cooperation between the Jordanian government, the German government, and the World Bank. It completes the Industry Support and Development Fund’s framework, focusing on supporting small enterprises, promoting development in the governorates, and increasing women's participation in the industrial labor market.
He praised the economic impact achieved by the fund's programs through job creation, increased sales and exports, digital transformation support, and building the technical and administrative capacities of industrial enterprises.
From his perspective, Schmidt-Rosen confirmed that supporting the industrial sector represents a key pillar of the partnership between KfW and the Jordanian government. He indicated ongoing cooperation to develop new financing programs that bolster the competitiveness of Jordanian industry, contribute to economic growth, and create more jobs.
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