The Ministry of Industry, Trade and Supply, as part of its implementation of the government’s economic priorities towards improving investment environment in the Kingdom and boosting the competitiveness of Jordanian industry locally and abroad, is set to establish a number of national projects, including 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.
Responding to a question by the Jordan News Agency (Petra), the ministry 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 the industrial product 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.
Source: Jordan News Agency