Jordan Enterprise Development Corporation signed agreements to support 15 industrial SMEs

Priority will be given to SMEs that show export readiness during the project implementation period.

  
Young entrepreneurs work at the Amman-based Oasis 500, a seed investment firm which finances start-up firms in the region's information technology sector, November 2, 2011.

Young entrepreneurs work at the Amman-based Oasis 500, a seed investment firm which finances start-up firms in the region's information technology sector, November 2, 2011.

REUTERS/Muhammad Hamed

AMMAN — The Jordan Enterprise Development Corporation (JEDCO) on Wednesday signed agreements with 15 small and medium-sized industrial enterprises that joined programmes to support local industrial SMEs in response to the recession in economic activity caused by the spread of the COVID-19 pandemic.

JEDCO CEO Bashar Al Zu’bi and representatives of the enterprises signed the agreements.

JEDCO’s response will assist industrial SMEs in sectors that have been directly affected by the crisis such as the manufacturing industry involved in combating the pandemic including the healthcare and the related industries, which face increased demand on medical supplies, services and medicines, the corporation said in a statement.

Zu’bi said that the first programme will provide two services, the first of which is to help local SMEs through the process of promotion and electronic marketing through virtual markets and electronic stores, while the second service is to automate some of the SMEs’ activities and operations to enable them to work “remotely”. Local SMEs have the freedom to choose one of these two services.

The programme will provide financial grants on a competitive basis to 11 industrial SMEs from 92 received applications, with a grant of JD7000 for each company, the total budget of this programme will reach JD110,250 and JEDCO’s contribution is JD77,000, the statement said.

This programme will facilitate the registration of local products in the virtual markets and electronic stores, thus expanding the customer base, in addition to implementing the e-commerce process locally and internationally to promote Jordanian products.

The other programme will support four local industrial SMEs, among 56 received applications, which are able to manufacture medical supplies and equipment and public safety clothing to combat the coronavirus epidemic for export purposes, he said.

Priority will be given to SMEs that show export readiness during the project implementation period.

This programme will provide financial grants of JD40,000 for four SMEs and will finance up to 70 per cent of the total cost of the project.

The total budget for this programme will reach JD214,850 and JEDCO’s contribution is JD 147,700.

The programme will contribute to creating 42 job opportunities and increase the value of exports by JD705,000, concluded the statement.

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