Gov't Approves Slew Of Economic, Public Sector Modernization Visions-Related Decisions
Date
11/2/2024 11:00:55 PM
(MENAFN- Jordan News Agency)
Amman, Nov. 2 (Petra) -- The Council of Ministers on Saturday approved a number of decisions related to the economic modernization vision, the public sector modernization roadmap, and cooperation agreements with brotherly and friendly countries.
As part of the economic modernization vision, the cabinet approved the mandating reasons for a draft law amending the Cooperation Law of 2024, with the aim of supporting and empowering small and medium-sized productive projects and providing job opportunities, especially in the agricultural fields.
The proposed amendments include the establishment of the Cooperative Development Fund as a main lever for cooperative work in order to support and finance cooperative projects and provide appropriate guarantees for them in response to the national strategy outputs, while providing loans and grants to cooperatives and ensuring fair distribution that takes into account avoiding duplication of projects.
The proposed amendments also include the establishment of the Cooperative Development Institute for the purposes of spreading cooperative thought, training, and qualifying national cadres on cooperative management, work, and accounting systems in order to enhance the capacity of cooperatives and develop their performance, in addition to empowering women and youth and integrating people with disabilities and those living in remote areas in the cooperative sector by encouraging them to establish cooperatives.
The draft law also includes provisions to regulate and monitor the work of cooperatives to preserve the rights of their members and ensure their sustainability, organize the receipt of external funding and grants and direct them towards the development of the cooperative sector, and amend forming and registering qualitative and regional cooperative union procedures in line with cooperative principles and in accordance with international best practices.
The proposed amendments pave the way for cooperative societies to work with momentum in all economic sectors in order to enhance their role in comprehensive development, and enhance the participation and representation of the cooperative sector in the board of directors of the Jordan Cooperative Corporation (JCC), with a focus on increasing the representation of women in this board.
The cooperative sector is one of the promising sectors that achieves integration between scattered resources and their cooperative aggregation in order to sustain their economic momentum and make them productive and fruitful for their shareholders, and the government is keen through these decisions to support this sector in an institutionalized and sustainable manner.
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