Building Markets Champions Jordanian Companies
Building Markets is pleased to announce that it has expanded its matchmaking platform to include Jordan – where more than 300 local small and medium-sized enterprises (SMEs) are now profiled. The platform connects verified SMEs to new markets by providing them with greater visibility and access to business opportunities.
Visitors to the site can search by sector, business size, refugee and women’s ownership, and other criteria. SMEs profiled receive a unique page with top-level details on their company and access to tenders. Behind this resource is a powerful database containing over 150 data points on each SME that Building Markets has surveyed. Building Markets is leveraging this data to make strategic connections between Jordanian companies and new markets and capital.
On February 28, 2019, Building Markets was proud to introduce this resource, which coincided with the conference Jordan: Growth and Opportunity, the London Initiative. This international convening was hosted by the Governments of the United Kingdom and Jordan, with the intention of bringing greater inclusivity and openness to the country, and continuing discussions about how to cultivate a better business environment for future trade and investment.
In partnership with the World Bank and funding from UK Aid, Building Markets also produced a pocket-sized guide, which was shared at the conference, featuring a snapshot of Jordan’s private sector. The draft publication indexed 82 SMEs, which included value propositions, mission statements, financial and operational data, and specific investment, growth, and market asks for each.
“Jordan is a market that is on the rise. With innovative SMEs in manufacturing, tech, pharmaceuticals, and services emerging — along with a continuously improving regulatory environment — it’s not surprising that the country is attracting investors and companies from around the world,” remarked Jennifer P. Holt, Chief Executive Officer.
The Jordanian Government has played a vital role in developing this fertile business environment. In 2015, the administration launched its Vision 2025 plan, a ten-year framework for boosting GDP growth. The country now has twelve internal economic zones catering to specific sectors, with each zone offering reduced taxation to encourage development. Jordan is also home to seven free trade agreements and offers twelve ports into the country through sea, land, and air. This, combined with relatively low bureaucratic procedures for exporting and importing, makes Jordan ideally positioned for trade.
“However, identifying SMEs that can meet commercial and investment demands can be a challenge. Building Markets’ services are meant to overcome these barriers, fast-tracking access to promising Jordanian companies that can create much needed jobs.”
Yara Asad, Building Markets Project Manager added, “Jordan’s SMEs are key to ensuring that the country continues on a path of prosperity and that its economy can deliver inclusive economic growth for both Jordanians and refugee newcomers. We have seen the potential first-hand and look forward to continuing our work connecting Jordan’s SMEs to local, regional, and global markets.”
Building Markets work in Jordan is made possible through the generous support of Open Society Foundations. For more information on our programs, please contact us at: firstname.lastname@example.org