SMEs 'playing key role in Bahrain's growth'
Manama, January 31, 2012
Small and medium enterprises (SMEs) are playing a vital role in Bahrain's economic development, Industry and Commerce Minister Dr Hassan Fakhro said.
He was chairing the 10th meeting of the co-ordinating committee to support SMEs.
The committee was formed by the ministry to follow up issues and matters related to this important economic sector, in line with Bahrain Economic Vision 2030.
At the beginning of the meeting, Dr Fakhro stressed the important role played by the committee to strengthen small and medium industries, which is today the most important sector and most influential in economic development on local and global levels, especially in light of leadership and government support for it.
Batelco then gave a visual presentation on a project to establish an SMEs online purchasing website to serve as a provider for programmes required by these institutions such as customer management, product management, inventory management, marketing, publications information, as well as to facilitate electronic financial transactions of all kind.
The meeting discussed latest development on a feasibility study for establishing an export development centre in Bahrain, under the ministry's supervision.
It is considered one of the main initiatives of the ministry's strategy in Bahraini Economic Vision 2030 in co-ordination with related government and private entities.
The meeting also discussed matters related to the team formed to follow up problems facing SMEs, based on directives of His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa to view the potential available to assist SMEs and facilitate their access to different services.
The ministry has classified the needs of SMEs in terms of importance and priority, feasibility, considering the viability of some of the proposals and recommendations for implementation in the short and long term.
Dr Fakhro praised the committee, highlighting its important role in enhancing its work and achieving its objectives.
Committee members praised the ministry's initiatives and said they contributed to developing ministry work and developing services provided for citizens.
Representatives from Economic Development Board, Bahrain Development Bank, inJAz, Tamkeen, Unido, Labour Market Regulatory Authority, Bahrain Businesswomen Society, Bahrain Businessmen Society, Public Commission for Protection of Marine Resources, Environment and wildlife, Supreme Council for Women, Ebdaa Bank and the private sector attended.-TradeArabia News Service