Jordan is preparing to establish a number of national projects to support industry in the country and boost its economy, according to official sources on Wednesday, October 6.
The country’s Ministry of Industry, Trade and Supply will be establishing these projects as part of its implementation of the government’s economic priorities towards improving the investment environment in the country.
The move is also expected to boost the competitiveness of Jordanian industry locally and abroad.
The establishment of the national projects is also expected to include the building of a fund to support and develop local industry.
“This requires a review of the current support and incentive program for industrial activities,” the ministry said, noting that several industrial companies complain about the difficulty of achieving the program’s requirements.
It added that it formed a technical committee with members from the public and private sectors to mull the proposed scenarios to support industrial activities and magnify benefits from the support programs provided to serve a wider segment of industrialists in order to upgrade industrial production and enhance its penetration into foreign markets.
The ministry also indicated that a series of technical meetings were held with the participation of a representative from the Jordan Chamber of Industry to come up with an alternative system that serves the national interests and does not conflict with Jordan’s obligations under the World Trade Organization.