Over JD45 million worth of agreements signed in first round 2023 Industry Support Fund – minister

AMMAN — Minister of Industry, Trade, and Supply Yousef Shamali said that the total value of agreements signed during the first round of the 2023 Industry Development and Support Fund amounts to approximately JD45.2 million. 

These agreements benefit 395 industrial facilities, constituting 50.2 per cent of the total financial allocations for the four programmes of the fund, which have a total value of JD90 million, according to The Jordan News Agency, Petra.

Shamali’s remarks came during a meeting with industrialists and investors at the Zarqa Chamber of Industry.

At the meeting, Shamali highlighted the significance of industrial sector in enhancing competitiveness, addressing industry-specific challenges, increasing export capabilities, reducing poverty, generating employment, stimulating business environments and contributing to overall economic activity.

He also provided details on evaluation results of 135 selected industrial companies that are eligible for the output-based incentives programme within the fund.  These companies were set to receive non-refundable financial support amounting to approximately JD29.63 million, representing 57.2 per cent of the total cost for implementing projects aimed at developing industrial facilities, with a total value of JD51.763 million, according to Petra.

He also cited the allocation of JD40 million from the 2024 public budget for the fund, focusing on all-scale industries.