November 27 2022 8:53 PM E-paper Subscribe Sign in My Account Sign out

Ministry signs agreements to support 195 small and medium enterprises

Ministry of Industry , Trade , and Supply
(File photo: Jordan News)
AMMAN — The Ministry of Industry, Trade, and Supply signed sub-agreements to provide financial and technical support to about 195 small- and medium-sized enterprises (SMEs), the Jordan News Agency, Petra, reported.اضافة اعلان

Minister Yousef Shamali signed the agreements with executives of the Industry Support and Development Fund programs, including the Jordan Enterprise Development Corporation, Jordan Exports, and Jordan Loan Guarantee Corporation.

The aim is to develop the products of these establishments through a JD100,000 financial cap annually for each facility. Grants will also be provided to about 160 small and medium industrial enterprises to enhance their export readiness, at an annual cap of JD50,000 for each.

The export credit guarantee support program targets about 45 industrial establishments, at a cap of JD35,000 annually for each facility, plus the output-based incentives program to improve the competitiveness of the Jordanian industry, at an average of 280 industrial establishments and an annual cap of up to JD75,000, JD150,000 and JD250,000 for small, medium and large enterprises, respectively.
98% of recently registered firms in Jordan are SMEs and startups. ...These companies generate 50 percent of private-sector GDP
Shamali, who is also chairman of the Steering Committee of the Industry Development Fund, said in a press release that the signing of the agreements is part of government efforts to support the national industry, which will have a key impact on increasing production, and enhancing the competitiveness of industrial sector exports and its ability to create job opportunities and reduce unemployment rates.

The Jordan Startup Expo, the largest technology expo for empowering startup businesses scheduled to hold a two-day conference in Amman later this month, said that 98 percent of recently registered firms in Jordan are SMEs and startups. It said these companies generate 50 percent of private-sector GDP, and 60 percent of new employment opportunities.


Read more Business
Jordan News