Jordan and Germany sign agreement to support 20 SMEs in creative industries 

RIYADH: Jordan’s National Fund for Enterprise Support and the German Agency for International Cooperation signed an agreement to support about 20 small businesses in jewelry, filmmaking, and e-sports and gaming. 

Higher Council for Science and Technology Secretary-General Mashhoor Refai and GIZ Project Lead Elisaveta Kostova signed the agreement, establishing a joint support pathway for small and medium-sized enterprises.  

The deal aligns with Jordan’s Economic Modernization Vision, which aims to drive sustainable growth, expand job opportunities and improve private-sector competitiveness.

According to the European Bank for Reconstruction and Development, creative industries and film production locations are among eight national economic growth drivers identified under the vision’s roadmap.  

“The MoU establishes a new era of cooperation with GIZ and aims to create a dynamic, supportive business environment that enables SMEs to turn challenges into sustainable success,” Refai said, according to Petra. 

Technical support 

Under the first phase, NAFES will assess participating companies’ capacity for innovation and provide specialized technical advice to help them prepare for expansion and implementation. 

Companies that meet the required criteria will then move to the second phase, in which they can be referred to NAFES for direct financial support. 

The program will prioritize women-led and women-owned businesses, as well as companies that employ people with disabilities, as part of efforts to broaden access to business support. 

Kostova pointed to the potential of Jordan’s cultural and creative industries to drive export growth. NAFES Executive Director Moath Alaween stressed that linking technical readiness directly with national funding streams would provide end-to-end support for young enterprises.  

SME base 

Jordan’s business sector is dominated by small enterprises. A 2018 business census cited in a GIZ-backed financial inclusion study counted 167,519 active enterprises, of which 166,638, or 99.5 percent, were micro, small or medium-sized businesses.  

Micro enterprises with one to four employees accounted for 89.7 percent of all enterprises, while small businesses represented 8 percent and medium-sized companies 1.7 percent, according to the study.  

Jordan’s unemployment rate stood at 21.4 percent in 2024, while youth unemployment was 46.6 percent and female labor-force participation was 18.7 percent, according to the EBRD’s Jordan Country Strategy 2025-2030. 

Source – Arab News