Tamkeen total Q1 project spend hits $23m
Manama, May 27, 2013
Bahrain's labour fund Tamkeen has spent BD9 million ($23.2 million) on projects during the first quarter besides distribution of BD4.5 million unemployment insurance on behalf of private sector employees, said a top official.
“The first quarter has witnessed great challenges and opportunities. One of the challenges that Tamkeen faced was to find viable solutions for aviation trainees and graduates to ensure their growth and development,” remarked chairman Shaikh Mohammed bin Essa Al Khalifa after its second board meeting of the year.
"It is absolutely imperative that all our efforts are funneled for the betterment of the private sector of Bahrain, which ultimately contributes to the strengthening of the Kingdom’s Economy," he said.
"On a regional level, the aviation industry is considered to be a promising sector and is expected to continue to grow, therefore it important that Tamkeen continues to support trainees within this field to develop their skills and capabilities and develop their employability opportunities,” Shaikh Mohammed added.
According to him, the fees from LMRA, Tamkeen's sole source of income, amounted to BD7 million for the quarter, which also saw operating expenses of BD1.3 million. A progress report for the quarter showed that 10,630 Bahrainis and enterprises had been served.
The meeting discussed the current status of aviation trainees and graduates and the appointment of Deloitte & Touche as the new external auditor.
More than 77,000 Bahraini individuals and enterprises in Bahrain have benefited from Tamkeen programmes to date, and the total number is expected to rise to more than 150,000, said the top official.
"Our programmes will continue to be further developed and refined to enable beneficiaries to achieve their personal and business goals," he added.-TradeArabia News Service