JEDCO receives 148 applications for support from local industrial SMEs during pandemic

AMMAN - The Jordan Enterprise Development Corporation (JEDCO) on Sunday received 148 applications for support from local industrial SMEs due to the contraction of economic activity caused by the coronavirus.

It is necessary to expedite the recovery of the national economy and quickly garner support for industrial SMEs in order to lessen the financial and economic impacts of the spread of the coronavirus, JEDCO CEO Bashar Al Zoubi said in a statement made available to The Jordan Times.

The corporation’s response will also assist industrial SMEs in sectors that have been directly affected by the pandemic, including manufacturing industries and healthcare and related industries that face increased demand for services and medical equipment.

Zoubi said that JEDCO received 92 applications from the first programme, which will provide two services, either to help and support local industrial SMEs through the process of promotion and electronic marketing through virtual markets and electronic stores, or to automate some of the SMEs’ activities and operations to enable them to work "remotely". Local SMEs will be free to choose one of these two services.

Financial grants will be offered under the programme on a competitive basis targeting 40 industrial SMEs from different governorates, with a grant of JD7,000 for each company, according to the statement.

The programme will facilitate the registration of local products in 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.

Regarding the second programme, Zoubi indicated that 56 applications were received from local industrial SMEs that manufacture medical supplies and equipment and public safety clothing to combat the coronavirus for export purposes and are able to modify their production lines and purchase the necessary machines to manufacture such products.

Priority will be given to SMEs which are prepared to export products during the project implementation period.

This second programme will provide financial grants of JD40,000 for each company, and will target 10 industrial projects and will finance up to 70 per cent of their total costs with a total budget reaching JD400,000, the statement said.