JEDCO signs JD1.2 million agreements to support 20 local companies

Amman, Jordan Enterprise Development Corporation (JEDCO), on Wednesday, signed several agreements with 20 local companies as part of the "Enhancing Industrial SMEs for Export" program, launched by JEDCO in August.

The agreements, worth JD1.236 million, half a million of which will be provided by JEDCO, aim to provide local companies with technical and financial support to raise their administrative and productive capacities.

JEDCO's CEO Bashar Al- Zu'bi signed the agreements, in the presence of representatives from the companies and public and private sectors.

Macroeconomic performance indicators in the first eight months of this year have improved, as exports rate has increased by 6 percent while trade deficit was down by 12.3 percent, said Minister of Industry, Trade, and Supply Tariq Hammouri during the signing ceremony.

Hammouri added that the increase in exports constitutes a top priority to the government, adding technical support and administrative assistance programs have achieved positive results on the ground after JEDCO have conducted assessment of these programs' impact.

JEDCO's JD0.5 million-program targets small and medium-sized companies with high export readiness that had exported over the last three years and are working in engineering services or information systems sectors.

The program, a leading government project, aims to support exports of service companies, said Al- Zu'bi, calling for focusing on high value added products in light of the tight competitiveness.

Source: Jordan News Agency