Amman: President of East Amman Industrial Investors Association (EAIIA), Iyad Abu Haltam, said Industrial Support and Development Fund constitutes a “strong” driver for Jordan’s industry and provides foundations to increase its competitiveness locally and in export markets.
During an EAIIA’s session held, in cooperation with Ministry of Industry, Trade and Supply, to introduce industrialists on the fund’s programs, he noted the newly-launched entity came as a government step to reduce production burdens and operating costs, which impede Jordanian industry’s growth.
According to an EAIIA statement on Wednesday, Abu Haltam stressed the need to continue supporting Jordan’s industrial sector, as the main driver to achieve economic growth and create jobs, referring to its contribution to about 25% of the Kingdom’s gross domestic product directly and support the country’s foreign exchange reserves.
Abu Haltam referred to the fund’s incentive package, which could benefit industrial companies to increase their sales and exports, raise their market share, enhance energy efficiency, and increase employment rate of women and persons with disabilities.
The Cabinet approved the fund’s bylaw for 2022, in implementation of the government’s economic action priorities program 2021-2023, with a value of JD90 million over three years.
Source: Jordan News Agency