AMMAN — Industry and Trade Minister Hatem Halawani on Tuesday said the ministry is working to formulate a policy that supports national industries, increases commercial exchange and opens new markets for Jordanian products.
Inaugurating a five-day industrial exhibition organised by the Jordan Enterprise Development Corporation (JEDCO) to showcase products of around 135 Jordanian industrial companies, Halawani said the ministry has obtained approvals from the Prime Ministry to import heavy fuel oil to increase the competitiveness of the industrial sector.
He expected JEDCO to support, develop and establish around 70 projects by the end of the first quarter of next year, through the Governorates Development Fund which recently began its work to establish sustainable productive projects in various parts of the Kingdom to create more job opportunities and enable citizens to implement their own projects.
JEDCO Chief Executive Officer Yarub Qudah said the exhibition seeks to support local industrial companies, increase cooperation between the industrial sector and various other economic sectors and supply local factories with raw materials needed for their products.
He stressed the importance of promoting local industries, noting that the industrial sector is capable of dealing with the trade deficit through increasing exports and reducing the volume of imports.
Amman Chamber of Industry President Ziad Homsi stressed that despite the challenges facing Jordan’s industrial sector, it will continue to carry out its national responsibility to support the economy.
Jordan Chamber of Commerce (JCC) Deputy President Issa Murad said the exhibition is an opportunity to showcase the advanced level of local industries, stressing that the commercial sector will remain the first supporter of the industrial sector through promoting its products.
The industrial sector contributes about 25 per cent annually to the Kingdom’s gross domestic product and employs 20 per cent of local labour.