JEDCO partners with EDMC to support SMEs

AMMAN — Under a memorandum of understanding (MoU) signed this week between the Euro-Med Development Centre for Micro, Small, and Medium Enterprises (EMDC) and the Jordan Enterprise Development Corporation (JEDCO), the Kingdom will become a member to the regional network of National SME business support centres aiming at the implementation of the EMDC initiative — labelled as a Union for the Mediterranean Project — implemented by the Milan Chamber of Commerce (Promos). 

According to a JEDCO press statement, EMDC President Ambassador Giancarlo Aragona and JEDCO’s Chief Executive Officer Yarub Al Qudah signed the MoU, in the presence of Italian Ambassador Patrizio Fondi, to enhance targeted cooperation between Jordan and the European Union-Middle East North Africa region, highlighting the importance of offering continuous technical support to micro, small, and medium enterprises (MSMEs) in order to enhance their competitiveness in both the national and global economy.

“Activities to be implemented under this initiative includes, amongst others, favouring MSMEs’ access to markets, creating conditions that allow MSMEs in the Euro-Mediterranean region greater and easier access to financing, including by providing professional services and consultancy work (e.g., feasibility studies, business plan preparation, etc.) and creating and developing an environment which favours the growth, networking and exchange of entrepreneurial know-how for MSMEs in the Euro-Mediterranean region, aimed at job creation, with a specific focus on young entrepreneurship,” the statement said.

Aragona said: “The programme shall also offer opportunities to establish links and cooperation ventures between Jordanian and their counterpart Italian public sector institutions, Chambers of Industry and Chambers of Trade in addition to business associations.”

Fondi said: “Jordan heavily depends on human capital as its primary driver of economic growth, and Jordanians, by nature, are innovative and entrepreneurial with positive cultural reinforcement of risk-taking and enterprise. The passion that Jordanians have is our main driver to assist them in nurturing their entrepreneurial spirit and growth oriented businesses, especially with the aim of boosting economic relations, commercial two-way trade opportunities and socio-cultural environment in Jordan.”

Qudah said: “Our aim at JEDCO is to provide a coordination platform for all stakeholders in the field of entrepreneurship and SME development, excellent and transparent services to enhance the competitiveness of Jordanian enterprises especially SMEs, through providing technical assistance and financial support to achieve sustainable development and economic growth, in addition to raising those enterprises’ positioning in global markets ensuring that they benefit from Jordan’s preferential trade agreements where possible.” 

He concluded that the MoU signed with EMDC is a clear support to the innovative initiative they are bringing to Jordan, as it will be setting our long-term and strategic partnership for SMEs’ joint-investments, and further highlighting our shared goals.