450 businesses expected to benefit from $4.5 mln employment fund

450 businesses have applied at the National Employment Service to benefit from the 2017 employment promotion fund amounting to of $ 4.9 million.

Official sources from this institution said to TV SCAN that of these, 180 are legal subjects and 270 physical subjects that have submitted their applications to the labor offices in the districts of the country.

Currently, the National Employment Service is in the process of evaluating the applications through a scoring system, if these entities meet the criteria for profit.

But although the total fund is ALL 490 million, this year’s applications are projected to benefit ALL 375 million, while the rest of the funds will go to fund some businesses that were awarded funds last year.

This support is applied since some several years, in order to encourage businesses to create new jobs.

Supporting business through this fund has brought direct effects, employing every year about 3-4 thousand unemployed persons.

Distribution of money for benefiting businesses is done in installments and is at the amount of four salaries according to the minimum wage as well as social and health insurance for a year for each individual employee.

A priority will be given to underdeveloped areas like the northern districts, since they are facing a higher unemployment rate.

SCAN

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