Hareer _ The Executive Director of the Jordan Corporation for Economic Projects Development, Dr. Bashar Al-Zoubi, suggested the launch of the second phase of the program to support industrial companies for export before the end of this year.

Al-Zoubi stated in a statement to Al-Ghad that the second phase aims to provide financial support in the form of non-refundable grants to 40 industrial companies at a rate of 7 thousand dinars per company within specific conditions and principles, foremost of which is the transformation to adopt electronic selling as another option for marketing products.

According to Al-Zoubi, this program aims to facilitate the registration of products of local companies in electronic stores, thus expanding the customer base and implementing the electronic export process internationally to promote national products.

The government launched a program to support industrial companies for export to find rapid financing to help local small and medium-sized industrial enterprises to support them due to the downturn in economic activity caused by the spread of the Coronavirus and the closures that accompanied it.

Al-Zoubi explained that the industrial companies will be supported through a grant from the German Agency for Development in the amount of 370,000 euros, noting that part of the grant will be in the form of providing technical support, qualification and training for companies to take advantage of electronic stores to increase their export.

During the first phase of the program, the corporation provided financial support to 11 industrial companies out of 92 requests submitted to benefit, and the value of technical and financial support for each company reached seven thousand dinars, at a total cost of 110,250 thousand dinars, of which 77 thousand were in advance support from the institution.

On the other hand, he indicated that the Corporation will sign, during the next week (with self-financing), agreements to provide financial support and non-refundable grants with 10 industrial companies within the freight support program, with a ceiling of 10,000 dinars per company, and a financing rate of up to 70% of Total shipping costs within specific conditions and criteria.

Al-Zoubi said that the program aims to stimulate and increase entry to new, non-traditional markets, which include all African countries except for the Arab ones, in addition to Russia, Belarus, Armenia, Kyrgyzstan, Kazakhstan, Singapore and Azerbaijan.

He pointed out that the Corporation will also launch the second phase of the program to support freight expenses for industrial companies before the end of this year, within specific conditions and criteria.

He pointed out that the corporation will intensify the awareness campaigns and promote the support programs it provides to industrial companies in order to enhance their benefits and increase national exports.

Al-Zoubi indicated that the corporation seeks to diversify the export base of products and markets through the support programs it provides to industrial companies, stressing that increasing exports is the solution to economic growth, expanding production, generating more job opportunities and enhancing the Kingdom's foreign exchange reserves.

The indicators of a previous study conducted by the corporation on 23 companies financed by 1.1 million Jordanian dinars showed a growth in total exports of 8.8 million Jordanian dinars.

It indicated that every dinar provided by the corporation to support companies achieved a return of 8.2 dinars on national exports.

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