Razzaz : Our economic model must focus on differential advantages | Jordan News | Ammon News

Razzaz : Our economic model must focus on differential advantages

[12/12/2018 3:50:14 PM]

AMMONNEWS - Prime Minister, Omar Razzaz, said that the economic model we aspire to achieve should focus on the Jordanian economy differential advantages especially focusing on entrepreneurship and exports.

During a conference on small and medium-sized enterprises, which was organized by the Economic and Social Council, and Jordan Chamber of Industry, Razzaz said the work's priorities in the economic affairs in the upcoming period will focus on achieving economic growth that ranges between 4 to 5 percent, increasing the investment rates to no less than 10 percent, increasing the number of small and medium-sized companies in the kingdom, and enhancing employment.

Razzaz underscored that the government is well aware of the challenges small companies and start-ups are facing, pointing out that his cabinet works with the private sector to establish the Jordanian exports house as a company that helps small and medium-sized Jordanian companies to export. This project is expected to see the light in 2019.

He said small companies are still dependent on banks' funding that have certain reservations, calling upon companies to head to funds such as the Jordanian Entrepreneurship Fund that was established with a capital of $98 million.

The premier pointed out that a lot of global and economic changes happened in the interest of Jordan, saying that entrepreneurship and innovation have become main resources for growth in the world and not natural resources.

Estimates show that between 80 and 85 percent of the world's wealth in the last period came as a result of innovation and producing, and that this is in Jordan's best interest, which is proud of its human resources, Razzaz added.

He stressed that the governments top priority within the two upcoming years is to have a productive country, something that will take the collaborative efforts of the public and private sectors to reach this goal.

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