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Jordan looks to partner with private sector to prop up economy

In the first 11 months of 2022, Jordanian exports to Algeria totaled US$93.5 million. (AFP file)
  • He said the economic modernization scheme set a roadmap for the next stage to stimulate and advance the national economy
  • Shamali said the department has a reform scheme to provide facilities to importers and exporters at border crossings

Amman, Jordan— The Kingdom of Jordan intends to foster a “robust partnership” with the private sector of the country that plays a key role in propping up the economy and generate jobs.

According to Minister of Industry, Trade and Supply and Minister of Labor Yousef Shamali, the government is serious about the plan.

In a meeting with the industrial sector at the Amman Chamber of Industry, Shamali said that the Jordanian economy is stable and is seeing growth, as it passed the fifth International Monetary Fund (IMF) mission review, which raised the Kingdom’s credit rating to (B+).

Also read: https://trendsmena.com/economy/jordan-economy-is-strong-far-from-bankruptcy-khasawneh/

He said the economic modernization scheme set a roadmap for the next stage to stimulate and advance the national economy, as emphasis in the coming period will be on vocational and technical training.

He pointed out that nine sectoral councils have been set up, all of them from the private sector that can determine their employment needs, which will help reduce unemployment, expressing hope that the Jordanian workforce in factories would reach 100 percent.

Also read: https://trendsmena.com/economy/jordan-approves-33-articles-of-new-investment-law-so-far/

Regard industrialists’ issues with the Customs Department, Shamali said the department has a reform scheme to provide facilities to importers and exporters at border crossings, whereby all control authorities will function under the department’s umbrella to ease procedures and prevent delays.

Also read: https://trendsmena.com/business/us-to-provide-us1-45bn-in-assistance-to-jordan/

President of the Jordan and Amman Chambers of Industry Fathi Jaghbir said raising national industrial exports contributes to reducing unemployment, as studies indicated that increasing exports by two billion dinars could create about 80,000 new job opportunities.

The meeting was attended by the secretaries-general of the Ministry of Industry and the Ministry of Labor, the directors general of the Social Security Corporation, Standards and Metrology Organization, Civil Consumer Corporation, Jordan Enterprise Development Corporation (JEDCO) and Vocational Training Corporation.