A $45 million programme to help attract $700 million in foreign direct investments and create some 40,000 jobs over the next five years got under way on Sunday in the Kingdom.
The Jordan Competitiveness Programme, launched by the Unites States Agency for International Development (USAID) Sunday, seeks to strengthen Jordan’s competitiveness in sectors of information technology, clean technology and medical services and life sciences, US Ambassador in Amman Stuart Jones said during a ceremony to launch the programme Sunday.
“The programme will help private sector in Jordan grow… We need to make sure all Jordanians across the country feel the benefit of the programme and we have to make it succeed,” said the top US diplomat in Jordan.
The programme will not only enhance the competitiveness of the Jordanian private sector, but will also play a role in addressing unemployment in Jordan, which is home to the most educated workforce in the region, Beth Paige, USAID Mission Director to Jordan, said Sunday.
“We are committed to working with all stakeholders to ensure the success of the project,” added Paige.
The programme seeks to address low women participation in the economy, which stands at about 15 per cent and address high unemployment among the youth that stands at 37 per cent.
It also entails enhancing businesses’ access to finance and supporting the public and private sector leaders and organisations in their work towards increasing competitiveness, investment and employment.
The programme aims at enhancing energy and water management and efficiency, enhancing quality of products and boosting export as well as capacity building for the human resources in the sectors included, among others.
Stressing the importance of the programme to boosting the country’s economy, Industry, Trade and Supply Minister Hatem Halawani said the programme is in line with the government’s strategy and priority of enhancing the private sector’s competitiveness.
“The programme will help enhancing the country’s economy through boosting competitiveness of businesses in different vital sectors,” said the minister.