JEDCO signs financial, technical support agreements with 30 SMEs

AMMAN — The Jordan Enterprise Development Corporation (JEDCO) on Thursday signed agreements with 30 small- and medium-sized enterprises in the consultation sector to provide them with financial and technical support.

The support is facilitated through JEDCO's Consultation Programme, in partnership with the Ministry of Industry, Trade and Supply, and the Jordan Chamber of Commerce (JCC). 

The programme, launched last year as part of the National Export Strategy, has a budget of up to JD500,000, according to the Jordan News Agency, Petra.

At the signing ceremony, minister of Industry, Trade and Supply, Yousef Shamali, said that the government, through the strategy and its programmes, aims to increase and diversify national exports and contribute to accessing new markets in various sectors, especially industries with added and distinguished value, mainly the services sector.

Shamali also stressed the importance of partnership in the consultation services sector, especially in administrative areas, in improving industrial production processes, which would enhance exports. He also underscored the urgent need for the services sector’s active participation in economic development to achieve market expansion goals.

JCC president, Khalil Haj Tawfiq, affirmed that the Consultation Programme represents part of the integrated partnership between the Kingdom’s public and private sectors, aiming for "holistic" economic development. He acknowledged the consultation sector’s significant role in augmenting productivity and competitiveness across other sectors, thereby contributing to increased exports.

JEDCO Executive Director Abdelfattah Kayed said that the Consultation Programme aligns with the primary objectives of the executive activities of the National Export Strategy for 2023-2025 and the implementation of the Economic Modernisation Vision for 2023-2025.

Kayed also said that the programme is structured into three implementation stages. The first stage aims to prepare market studies for the export markets targeted by the beneficiary companies, with a financing rate of up to 90 per cent of the cost of preparing the study. The second phase intends to provide financial support to 10 businesses to implement the export plan for the enterprises benefiting from the first phase, with a funding cap of JD25,000 per company. The third stage supports 10 entities to participate in joint exhibitions, creating tangible opportunities to market Jordanian services internationally.