Industry Ministry Launches Second Phase Of Export Promotion Program
Date
11/10/2024 2:04:08 PM
(MENAFN- Jordan News Agency)
Amman, Nov. 10 (Petra) -- Jordan's
manufacturing sector received a significant boost Sunday as the
Ministry of
industry and Jordan Exports unveiled the second phase of their comprehensive export
Promotion initiative, backed by a JD 30 million annual fund.
The program, which aims to empower local manufacturers to compete in global markets, offers grants up to JD 50,000 per business, with special incentives for small enterprises and women-led businesses.
This support covers up to 70 percent of export promotion costs, creating new opportunities for industrial growth and market expansion.
During a workshop at the Chambers of Industry, Rami Hammad highlighted the program's inclusive approach, emphasizing its accessibility to manufacturers across all regions and scales of operation.
The initiative forms part of a broader industrial development strategy encompassing four distinct support programs.
Jordan Exports Director Majd Maragha revealed that approximately 70 industrial companies would benefit from this phase of non-refundable grants.
The program specifically targets established businesses with proven track records, requiring at least one year of operation and demonstrated sales activity in 2023.
To qualify, companies must maintain a minimum 30 percent local value addition and demonstrate financial capability to match program funds. Public shareholding companies are eligible provided government ownership remains below 5 percent.
This strategic investment in Jordan's industrial sector reflects the government's commitment to enhancing the kingdom's export capabilities and strengthening its position in international markets.
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