Amman: Minister of Industry, Trade, and Supply, Yousef Shamali, announced that 135 companies, recipients of grants from the Industrial Support and Development Fund, have entered into agreements totaling JD29.63 million, non-refundable. This marks 57.2 percent of the overall expenses for industrial facility development projects, estimated at JD51.763 million.
Shamali, speaking at the signing ceremony held at the Amman Chamber of Industry, stated that the program’s objective is to assist beneficiaries in boosting total sales by JD76.1 million, achieving a growth rate of 14.3 percent. Additionally, it aims to elevate and support exports by JD30.84 million, with a growth rate of 14.1 percent, and generate job opportunities for approximately 1,768 Jordanians, at a rate of 25.7 percent, including 622 females.
This initiative aligns with the government’s commitment to fostering and advancing the local industry, enhancing its competitive capacities to alleviate unemployment rates, and invigorating the business envi
ronment, consistent with the priorities of the Economic Modernization Vision.
Shamali detailed that the benefiting enterprises consist of 5 large, 77 medium, and 53 small-sized companies. Notably, 54 of these are owned and managed by businesswomen, and 7 enterprises are set to export for the first time.
The financial incentive cap under the program stands at JD150,000 for small enterprises, JD300,000 for medium enterprises, and JD500,000 for large enterprises.
He highlighted that the upcoming year’s draft budget allocates JD40 million to support the national industries development program. The Fund is dedicated to encouraging local investment in existing industries, backing exports, and enhancing resource utilization efficiency.
Fathi Jaghbir, Head of the Jordan and Amman Chambers of Industry, emphasized the program’s significance in supporting industrial establishments comprehensively.
He commended government support, which bolsters the sector’s exports, sales, and competitiveness, maximizing the benefi
ts derived from free trade agreements.
Jaghbir underscored local factories’ ongoing efforts to collaborate effectively with the government, contributing to the national economy, increasing the local industry’s Gross Domestic Product share, and creating more employment opportunities.
Source: Jordan News Agency