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The Jordanian Action for Development of Enterprises (JADE) has taken an initiative which, if yields the desired outcome, could see the Middle Eastern country registering at a considerably higher economic growth in the near future.

As part of this new initiative, JADE has inked a Memorandum of Understanding (MoU) with five startup incubators and six business associations with the vision of bringing forth an “inclusive and innovative” private sector that can complement the government’s ongoing efforts to boost the economy.

The significance of this move can be gauged from the fact that the signing ceremony was attended by 80 representatives from key governmental agencies, the SME sector, emerging entrepreneurs, incubators, investors and civil society organizations.

For the uninitiated, JADE is a three-year project that aims to bring development opportunities to 100 promising small and medium enterprises and 60 innovative startups. The ultimate objective is to empower these organizations to maximize productivity, increase export, and generate new employment opportunities for the youngsters of Jordan.

To turn its vision into reality, JADE is preparing to collaborate with various private and public sector stakeholders including, but not limited to the Jordanian government, incubators, local business development service providers, and chambers of industry and commerce.

“With the beginning of our partnership with Jordan’s business associations and incubators — which are strategically located in all regions of the Kingdom — we are well poised to enhance the ability of small-and medium-sized Jordanian businesses to grow and export,” said JADE Project Manager Hamzeh Shamaileh.