Gov’t earmarks JD 30 million to support industry through special fund

The Ministry of Industry, Trade, and Supply
(Photo: Jordan News)
AMMAN — The government has allocated JD30 million of the 2022 general budget for an industry support and development fund, which will be officially launched next year, according to Al-Ghad News.اضافة اعلان

This amount will fall under the purview of the Ministry of Finance, to be used as part of a program that will provide financial support to government agencies concerned with economic affairs.

This amount comes within the budget of the Ministry of Finance for the next year for a program which supports economic affairs that aims to provide financial support to government agencies concerned in economic affairs.

The Ministry of Industry, Trade, and Supply will be tasked with implementing the support fund program and industrial development, Al-Ghad reported.

The Industry Support and Development Fund is included in the third axis in the Government Economic Action Priorities Program for the years 2021–2023.
The fund aims to develop exports by providing financial support similar to the current export support program after it was redesigned in line with international commitments.

It also aims to develop small and medium enterprises and support companies’ readiness for export, in addition to stimulating national exports and developing an export promotion service.

According to official figures, the number of companies benefiting from the sector’s export support program in addition to the current industrial addition reached 57 industrial companies, for the years 2019 and 2020, and in various sectors including chemical engineering, plastic industries, Dead Sea wood products, and cement.

Industry Minister Yousef Al-Shamali explained that the ministry will be partnering with the Jordan Foundation for the Development of Economic Projects and the Export House Company.

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