Irbid, The executive program of the economic modernization vision (2023-2025), which was recently endorsed by the government, incorporates key priorities to prop up the industrial sector’s competitiveness and maximize opportunities in economic and developmental fields, Minister of Industry, Trade and Supply and Minister of Labor Yousef Shamali said.
He told a meeting Saturday with industrialists in Irbid Governorate that 418 priorities are incorporated into the executive program at a total value of JD2.3 billion, adding that initiatives worth JD670 million will be implemented this year.
Shamali said that the high-value industrial plan aims to prepare Jordan to be a regional industries hub through 64 initiatives and 116 priorities at a total cost of JD315 million, including JD91 million this year.
Top priorities under the scheme include an industry support fund, the national employment program and the preparation and implementation of the national export strategy, he pointed out.
The minister said that the industry support fund, for which JD30 million are allocated annually, aims to reduce production and other costs and enhance the national industry’s competitiveness to enter new markets, coinciding with the global economy’s recovery and positive indicators achieved by many local sectors after the Covid-19 crisis.
Shamali said a key objective of his ministry under the vision of economic modernization is to open new markets for national exports and finalize the necessary agreements with world countries to enter their markets.
He noted that national exports soared to JD6.82 billion during the first ten months of 2022, at a growth rate of 40.7 percent.
Source: Jordan News Agency