AMMAN, Sept. 9 (Xinhua) -- Jordan on Sunday launched a program to develop the small and medium enterprises (SMEs) in the country in a bid to increase exports.
Launched by Jordanian Minister of Industry, Trade and Supply Tareq Hamouri, the program, known as "Enhancing Industrial SMEs for Export," aims to enhance the capabilities of the SMEs to develop their products and facilitate their exports.
As a nascent economy eager to be integrated into the world, Jordan is suffering from poor production structure, budget deficit, high internal and external debts, as well as the unemployment and poverty, said Hamouri.
"This requires policy-makers to reinforce the role of local and foreign investment and to look for new markets for Jordanian products, and to diversify the sources of income," said the minister.
The program will help solve some of the challenges confronting the country, such as searching for new markets for Jordanian products, reducing reliance on the traditional market, improving product qualities, and promoting domestic products, he added.
The industrial sector contributes to 25 percent of Jordan's GDP and accounts for 90 percent of its total exports, with an employment of 20 percent of the labor force, said Omar Qaryouti, CEO of the state-run Jordan Enterprise Development Corporation (JEDCO).
JEDCO is the state umbrella to support the establishment and development of enterprises in Jordan.
