| 25 Oct 2009 |
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Jordan start-ups need tax incentives and support
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Jordan needs to ensure that it provides ample support to the technology start-ups besides introducing friendly tax structures for the firms that are already operating.
The CEO of an Amman-based company said these steps are essential if Jordan wants to emerge as a software hub in the Middle East.
"We have potential particularly with the strong IT manpower we have. We export so many enginners to the developed countries every year. There is cetainly a potential for Jordan becoming a much larger centre for software export than what it is," said Sameh Aloul, CEO and Managing Director of ManafSoftManafSoft
. Amman and Cairo jostle for being called the software hub of the Middle East.
Cairo has over the past few years taken over Jordan on the back of incentives that the Egyptian Government has provided to support its own companies and attract foreign majors.
Aloul's comments echo the statements made by Jordan's IT professionals.
A presentation from the Jordanian Information Technology AssociationJordanian Information Technology Association
(ITA) called upon the government to "reduce indirect tax burden" and adopt "competitive taxation policies". It also called upon the Jordanian Government to "attract/create venture capital funds" and to "promote R&D through creating a special fund".Foreign software developent majors have so far eluded Jordan and attracting them should be a priority for the Jordanian Government, the report said.
"There is a lack of finance for start-ups and this has been hindering the growth of the Jordanian software sector," Aloul said.
"It's difficult for young to set up a company. A relative easy financing in the US and India has provided the impetus to the companies there," said a Jordanian engineer.
By Shashank Shekhar
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