JEDCO signs financial, technical support agreements with 30 SMSCs

Amman: Jordan Enterprise Development Corporation (JEDCO) on Thursday signed agreements with 30 small-and-medium-scale companies (SMSCs) in the consulting sector to provide them with financial and technical support. This support comes through JEDCO's "Consultation" Program, in partnership with Ministry of Industry, Trade and Supply, and Jordan Chamber of Commerce (JCC) at the end of last year, within National Export Strategy with a budget of up to JD500K, according to a JEDCO statement. Attending the signing ceremony, Minister of Industry, Trade and Supply, Yousef Shamali, said the government, through National Export Strategy and its programs, aims to increase and diversify national exports and contribute to enter new markets in various sectors, especially industries with added and distinguished value, primarily the services business. Shamali stressed the importance of partnership between the consulting services sector, especially in the administrative areas, in improving industrial production processes, wh ich would enhance exports. He also referred to the urgent need for participation of the services sector in economic development to achieve the goal of entering new markets. Meanwhile, JCC Chairman, Khalil Haj Tawfiq, stressed that "Consultation" Program represents part of the integrated partnership between the Kingdom's public and private sectors, aimed to achieve comprehensive economic development. Hajj Tawfiq pointed out the importance of the consulting sector in increasing productivity and competitiveness of other sectors, which would contribute to increase their exports. For his part, JEDCO's Executive Director, Abdel Fattah Kayed, said the "Consultation" Program is part of the main objectives of the executive activities of the National Export Strategy for the years (2023-2025), and implementation of the Economic Modernization Vision for the years (2023-2025). Kayed pointed out that the program is divided into 3 implementation stages, as the first aims to prepare market studies for the export markets targeted by the beneficiary companies, with a financing rate of up to 90% of the cost of preparing the study. Kayed added that the second phase aims to provide financial support to 10 businesses to implement the export plan for the establishments benefiting from the first phase, with a ceiling of JD25,000 per company, and the third stage supports 10 entities to participate in joint exhibitions and to create "true" opportunities to market Jordanian services externally. Source: Jordan News Agency