Jordan's JEDCO launches programmes to enhance industrial, services SMEs for export

JEDCO is the national umbrella for economic enterprise development in Jordan, inclusive of start-ups and entrepreneurships

  
Image used for illustrative purpose. Business people having a meeting.

Image used for illustrative purpose. Business people having a meeting.

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AMMAN — The Jordan Enterprise Development Corporation (JEDCO) launched two programmes on Thursday to upgrade the administrative capabilities and capacities of industrial and services small and medium enterprises (SMEs) in order to enhance exports with a total cost of JD1.5 million.

JEDCO is the national umbrella for economic enterprise development in Jordan, inclusive of start-ups and entrepreneurships.

According to JEDCO, the “Enhancing Services SMEs for Export” programme targets SMEs working in engineering and architectural services sector or the IT sector in all the governorates, which have high export readiness over the past three years with a cost of JD 0.5 million.

The “Enhancing industrial SMEs for Export” programme targets SMEs working in the industrial sector in all the governorates, which have high export readiness with the priority given to SMEs targeting non-traditional markets (non-neighbouring and new markets) with a cost of JD 1 million, JEDCO said.

Minister of Industry, Trade and Supply Tareq Hammouri was quoted in JEDCO’s statement as saying that Jordan suffers from poor production structure, a budget deficit, high internal and external debt, as well as the need to solve unemployment and poverty problems, which requires policy-makers to reinforce the role of local and foreign investments and to look for new markets for Jordanian products and services.

Hammouri emphasised the importance of the two programmes to support industrial and services SMEs’ exports, focusing on high value-added products, according to the press release.

JEDCO’s CEO Bashar Zu’bi said that the programmes aim to prepare strategic plans for the targeted SMEs to increase their exports and to enhance their role as key drivers in the overall development process, while solving the problem of unemployment.

The service programme is supposed to provide technical and financial support to 20 service SMEs operating within the targeted sectors and 20 industrial SMEs, while creating a minimum of 80 jobs, according to the statement.

Zu’bi explained that JEDCO will conduct several information days in the Jordan industry and commerce chambers and in Irbid and Zarqa industry chambers during next week in order to explain the mechanism of applying for technical and financial support from each programme and respond to the attendance inquiries, the statement said.

Last year JEDCO signed 29 agreements with 29 local SMEs with a total cost of JD 2.5 million, of which 1.3 million were JEDCO’s contribution, while the expected impact is 7 per cent increase in sales and 16 per cent increase in exports, and the expected impact on the exports growth is JD3.9 per JD1 as a return on the economy, according to the statement.

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