Bahrain launches initiative to bolster SMEs sector
Manama, July 1, 2014
The Industry and Commerce Ministry has launched an initiative to develop a national policy for entrepreneurship in Bahrain.
This is part of the ministry's strategy regarding small and medium enterprises (SMEs) and entrepreneurship, reported the Gulf Daily News, our sister publication.
This came during the 18th meeting of the main committee to co-ordinate and integrate SME activities chaired by Industry and Commerce Minister Dr Hassan Fakhro.
It was held in the presence of inJAz Bahrain chief executive and Al Salam Bank chairwoman Shaikha Hessa bint Khalifa Al Khalifa.
It was attended by representatives from ministries, government and private institutions, Economic Development Board, Tamkeen, Bahrain Chamber of Commerce and Industry (BCCI), Bahrain Businesswomen Society, Ebdaa Bank, Bahrain Businessmen's Society, Municipal Affairs and Urban Planning Ministry, Bahraini Young Entrepreneurs Association, Supreme Council for Environment, and private sector representatives.
The minister stressed the importance of putting in place a special policy for entrepreneurship, given the important economic role played by SMEs in the national economy.
He said the new strategy will unite efforts of the authorities concerned to create a favourable environment for business, enhance competitiveness of the SMEs and overcome obstacles to ensure the growth of this sector.
The meeting also discussed the developments of the ministry's initiative on issuing special law for SMEs.
The new initiative is in line with many other steps taken by Bahrain to train Bahrainis to enter the SMEs sector.
The meeting also discussed other issues and developments related to the SMEs sector and its follow-up.
The BCCI gave a visual presentation about a centre to support SMEs, which aims to provide services for the sector's chamber members.
They also reviewed the services provided by the centre which includes configuration and empowerment, consulting, financial links, technological links, intellectual property, communication support services and franchise business.-TradeArabia News Service