Tamkeen bolsters support for 75,000 enterprises
Manama, June 12, 2013
Tamkeen, Bahrain’s labour fund, notched up nearly 75,000 private sector beneficiaries as of December last year, a report said.
As many as 56,000 Bahrainis and 19,000 enterprises benefited through its human capital development and private sector support programmes, noted the authority’s annual report.
Total contribution to those beneficiaries reached in excess of BD207 million ($545 million), with BD46 million contributed last year, an 87 per cent increase compared with 2011, the Gulf Daily News, our sister publication, quoted the report.
The 2012 Tamkeen annual report is the fifth one issued since its establishment by Royal Decree 57 in 2006.
In his message, Tamkeen chairman Shaikh Mohammed bin Essa Al Khalifa stressed the underpinnings of Bahrain's economic strength, while highlighting key milestones and achievements during the year.
"Bahrain boasts a wealth of highly educated and qualified local human capital, a liberal and open economic environment, and strong regulatory frameworks - as attested to by leading global rankings," Shaikh Mohammed said.
"Tamkeen stepped up its support last year, re-injecting nearly twice as much capital through its support programmes, into the private sector compared with 2011," said chief executive Mahmood Al Kooheji.
Among the key human capital development initiatives launched last year was the professional qualifications scheme, which has enabled more than 3,000 Bahrainis to obtain accredited certifications in different sectors.
In all, more than 24,000 Bahrainis were served by the human capital programmes in 2012 alone, a 43 per cent increase from 2011.
Tamkeen contributed around BD29.5 million to enterprises in 2012 alone. It also successfully added BD50 million to its enterprise finance scheme portfolio, raising the total value to BD210 million.
More than 5,000 enterprises secured low-cost loans through this programme.
Other highlights include boosting community outreach efforts through initiatives such as 'Tamkeen Ambassadors' programme. It's part of a larger awareness campaign, in which actual beneficiaries continue to share how they benefited from Tamkeen's support with their respective communities.
Representatives attended more than 220 public events across Bahrain over the course of the year, which resulted in over 90,000 contacts and yielded dozens of potential joint initiatives and valuable feedback for improvement.
On the operational side, Tamkeen initiated several projects as part of its drive to improve its efficiency and level of services.
It also commissioned a number of impact assessment and feasibility studies to ensure alignment with current and future market needs.
"We look to continue our focus on maximising available resources to achieve sustainable results," Al Kooheji said.
"With more than 150,000 Bahrainis and enterprises set to benefit from our current and planned programmes and in excess of BD87 million allocated for these programmes, Tamkeen's impact continues to touch all sectors of society in its role as one of the leading enablers for business in Bahrain," he added. – TradeArabia News Service