Chairman of Amman Chamber of Industry (ACI), Fathi Jaghbir, said supporting the local industry contributes to reducing unemployment, as the industrial sector is the highest employer of Jordanian workforce. During a meeting held on Wednesday evening, at the ACI headquarters to introduce the output-based incentive program of Industry Development and Support Fund and mechanisms to benefit from its assistance, Jaghbir noted the fund’s four programs replaced Export Support Program that was suspended. According to an ACI statement on Thursday, Jaghbir said the fund is “more comprehensive” than previous programs, and would provide support to industrial companies in the form of grants, and reflects the “true” partnership between the public and private sectors. Jaghbir also expressed hope that the fund would contribute to alleviating burden of production costs facing national industry, thus enhancing its competitiveness to enter new markets. For his part, the fund’s director, Rami Hammad, said JD30 million are allocated annually, as a fund budget, which includes the manufacturing sectors, regardless of region and business size. The fund includes 4 support programs, and a ceiling has been set to benefit from its grants, as a platform was launched to receive assistance requests, he said. Noting the fund’s output-based incentive program, Hammad said financial incentives will be provided to small industrial establishments at a cap of JD150,000, while ceiling to medium and large businesses is JD300,000, and JD500,000, respectively. This assistance is disbursed in exchange for achieving specific targets, primarily increasing sales, production, exports and employment for Jordanians, and improving water, energy efficiency and management waste, he added.
Source: Jordan News Agency