JEICO Signs 115 Agreements to Support Economic Projects Worth 3 Million Dinars

Minister of Industry, Trade, and Supply Yarub Al-Quddat, during his patronage of the signing ceremony, said that the Ministry is keen to ensure that support reaches its rightful recipients, according to a scientific, professional, and ethical methodology that ensures the selection of projects capable of sustaining and growing.

Al-Quddat explained that JEICO received about 2,700 applications to benefit from the support programs, and after multiple evaluation processes, managed to limit the benefiting projects to about 115 projects, noting that the selection process was subject to an initial and final evaluation, in addition to enlisting a specialized and independent company to conduct an additional evaluation, and including personal interviews as part of the evaluation process to ensure the project owners' belief in their ideas and their ability to implement them.

He confirmed that the arrival of these projects to the final stage means that they are real and realistic projects that deserve support, and have opportunities for growth and expansion.

He pointed out that the Ministry also aimed to achieve the greatest possible geographical diversity in the benefiting projects, and not to limit them to a limited number of governorates.

He explained that the goal is not to establish small projects that provide a limited number of jobs and remain as they are, but to help their owners develop and grow them to become projects capable of expansion and providing real and sustainable job opportunities.

He emphasized the importance of continuing the partnership with the benefiting projects, starting from providing support to reaching the project to advanced stages of growth and expansion, which will positively reflect on the project owner, the workers, and the surrounding community.

For his part, the Executive Director of JEICO, Ghalib Hijazi, confirmed that the signing of the agreements represents a transition for the benefiting projects to a new stage targeting enhancing productivity, expansion, competitiveness, and job opportunities.

He explained that the 'Start Your Project' and 'Development' programs represent complementary tools; the former allows idea owners to transition to establishing their projects, while the latter supports existing projects in developing their businesses and enhancing their ability to grow and compete, in line with the economic modernization vision.

Hijazi pointed out that the turnout for the programs reflects the need for support programs that respond to the requirements of project owners, as the number of applications submitted was 2,222 under the 'Start Your Project' program, and 561 under the 'Development' program, of which 115 projects qualified.

He explained that the qualified projects represent diversity in governorates and sectors, alongside a growing presence of women in economic activity and entrepreneurship, confirming that JEICO's responsibility does not end with providing support, but extends to follow-up, measuring results, and directing support towards opportunities with the greatest potential to achieve sustainable economic impact.

He added: "This achievement reflects the growing role of JEICO as a national tool for translating economic orientations into practical support programs, and enhancing the ability of projects and establishments to produce, grow, expand, and compete, contributing to providing job opportunities and expanding the economic activity base in various governorates of the Kingdom."