JEDCO allocated JD12mln to modernize Jordan’s industry-Kayed

Amman: Jordan Enterprise Development Corporation (JEDCO) Chairman, Abdel Fattah Kayed, said the corporation has allocated JD12 million to modernize the Kingdom's industry. Kayed reviewed JEDCO's work mechanism and foundations for providing grants to beneficiaries, saying its strategy will be implemented over 3 years, as well as an action plan in the governorates within main axes,primarily economic recovery, green economy, and conformity of projects to international standards. Kayed made the remarks during a meeting with Lower House Economy and Investment Committee, headed by MP Omar Naber, to review JEDCO's work mechanism and its strategic plans for developing "entrepreneurial" projects, factories and ideas. Additionally, he added that JEDCO designs and implements a variety of development programs targeting Jordan's various sectors in the fields of manufacturing, services and agricultural industry, adding that 70% of the grants are provided to the Kingdom's governorates. Kayed explained that JEDCO has exp anded its currently implemented programs for existing factories under specific conditions. Meanwhile, Naber stressed importance of providing facilitations to owners of small and midsize enterprises (SMEs), especially in light of the difficult economic conditions. Naber also called for supporting SMEs to provide opportunities for Jordanian alumni and jobless youth to reduce unemployment Source: Jordan News Agency