Khaberni - The Jordanian Institution for Economic Projects Development increased the allocations for the Competitiveness Enhancement and Innovation Program within the next year's public budget project by 19%, according to Al-Ghad daily.
The program's budget reached 3.750 million dinars compared to 3.150 million, after reestimating the current year's budget with an increase of 600 thousand dinars.
The program aims to enhance the competitiveness of small and medium enterprises and develop them through providing technical and financial support, in addition to fostering innovation and entrepreneurship by supporting 253 projects instead of 114 for the current year.
The program provides financial and technical support services for the industry and services sector (export development, obtaining technical specifications, digital transformation, product development, virtual markets, economic recovery), as well as financial and technical support services for entrepreneurs and creative thinkers.
The program's budget allocations include 2.850 million dinars for national exports development purposes, in addition to 400 thousand dinars for international linkages and virtual markets, and 250 thousand dinars for support and financing expenses of companies, and 150 thousand dinars for supporting a fashion design center and training services, and 100 thousand dinars for promoting and empowering entrepreneurship culture in the kingdom.
The budget project showed an increase in the institution's budget (current and capital expenditures) by 20% reaching 5.785 million dinars compared to 4.804 million dinars for the current year after reestimating.
The total capital expenditures for the institution for the next year reached 3.750 million dinars, accounting for 65% of the total budget of the institution, while the current expenditures reached 2.035 million dinars.
The increase in the institution's capital expenditures by 600 thousand dinars resulted from an increase in export support projects by 450 thousand dinars, company support and financing expenses by 100 thousand dinars, in addition to an increase in empowering entrepreneurship culture by 50 thousand dinars.
The increase in current expenditures by 380 thousand dinars was due to an increase in the total compensations of workers by 329 thousand dinars to cover natural increases, vacancies and appointments, in addition to 41 thousand dinars to cover electricity and goods and services expenses, and 10 thousand dinars to cover educational delegations and training courses.
According to the budget project, the institution faces several challenges, including weak entrepreneurship culture within the society, especially in the provinces. Client satisfaction largely depends on their ability to obtain financial and technical support and not on the quality of services and procedures provided or the negative effects of economic inflation and its consequences on the small and medium enterprises sector.
The institution's work priorities within the defined limits for the years 2026-2028 include several targets, such as supporting emerging, small and medium-sized projects to achieve sustainable development and enhancing their competitiveness through supporting exports from establishments and the production process to reach virtual markets, such as Africa, Europe, and Southeast Asia, and supporting projects to reach a green environment, support entrepreneurial and innovative projects, contributing to the creation of 1500 job opportunities.
Furthermore, the priorities include enhancing the competitiveness of projects and creativity, supporting 100 projects managed by businesswomen and disabled persons, in addition to supporting the establishment of self-employment projects and working on reducing production costs.
