Tamkeen, BDB ink export centre deal
Manama, November 21, 2011
Bahrain labour fund Tamkeen said it has signed an agreement with Bahrain Development Bank (BDB) to support a feasibility study for establishing an export development centre.
The agreement stipulates that Tamkeen bears the expenses of investments related to the project for the first and second phases, whereas BDB oversees the project's administrative and technical aspects.
"This agreement comes within the strategic partnership between Tamkeen and the private sector," said Tamkeen chief executive Mahmood Al Kooheji.
"We look at this partnership as another tool of support for the private sector. Such programmes support enterprises to elevate and be put on the right track of ongoing growth."
"The addition of such an export centre integrates with the efforts made to enhance the position of Bahrain regionally and globally in terms of commercial trading," said Al Kooheji.
"Such programmes not only support marketing and trading of Bahraini goods, but it makes Bahrain a destination of choice for long-term investments as well," he observed.
"It will pave the way for Bahrain to become a hub attracting many manufacturing opportunities and transit point in the region and globally. We are very proud to say that Bahrainis are able to run such entrepreneurial ventures," he added.
BDB chief executive Nedhal Saleh Al Aujan said the Tamkeen deal was in line with Bahrain's Economic Vision 2030 that is based on its partnership for the introduction of many programmes designed to support and develop private sector enterprises and develop Bahrain human capital.
"This deal is yet another exemplary initiative with great significance for private sector as the idea of having such a centre in place caters to the needs of many enterprises and opens up new markets for them to export to foreign markets with confidence building for Bahraini entrepreneurs who may be hesitant when pursuing this line of business due to potential risks associated with the export cycle," Al Aujan remarked.
"We are very enthusiastic that the proposed centre will be based on a feasibility study as per the newly signed agreement," he added.-TradeArabia News Service