Amman, Aug. 21 (Petra) — Sixty-seven Jordanian industrial companies signed support agreements on Thursday under the second round of the Industry Modernization Program, with grants totaling more than JD 4.5 million.
The Industry Modernization Program, overseen by the ministry and implemented by the Jordan Enterprise Development Corporation (JEDCO), provides financial grants coupled with technical support to raise production capacity, lower operating costs, and mitigate environmental and health risks. Its first phase supported 131 companies with grants exceeding JD 11 million.
Minister of Industry, Trade, and Supply Yarub Qudah, who sponsored the signing ceremony, said the government remains committed to supporting the industrial sector through the Industrial Support Fund and its programs.
More than 654 companies have benefited from nearly JD 65 million in grants over less than two years, he noted, driving a 29 percent rise in exports and generating over 3,000 new jobs.
Qudah emphasized that industry is the most capable driver of sustainable economic growth, pointing out that global recovery indicators are measured primarily by economic growth, which is tied to local procurement and the trade deficit. Strengthening industry, he said, is essential to improving Jordan’s economic performance.
He outlined key economic indicators from the first five months of the year, including a 10.6 percent rise in exports, 2.7 percent GDP growth in Q1, and a 35 percent jump in container handling at Aqaba port reflecting revived trade and economic activity.
Qudah also noted a rebound in the transit sector, where exporters now face a shortage of trucks due to strong demand, calling it a positive sign of sector vitality. Additionally, he announced the reopening of the Bab Al Hawa border crossing between Turkey and Syria at the end of September, which will boost re-export activity to the EU.
Jordan Chamber of Industry President Fathi Jaghbir said the Industry Modernization Program is an advanced step to strengthen domestic industries and enhance their resilience in global markets.
He added that JEDCO has played a key role in supporting the sector over the years, boosting competitiveness, enabling firms to meet challenges, and facilitating international trade fair participation to open new markets.
Jaghbir reaffirmed that industry contributes about one-third of GDP and remains a pillar of national development despite regional and global headwinds, maintaining a strong presence in traditional markets and entering new ones.
//Petra// AO
21/08/2025 13:38:24
