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Key support pledged to boost SMEs sector

MANAMA: The government and the Industry and Commerce Ministry will continue to provide all support possible to the small and medium enterprises (SMEs) sector to enable them to boost their capacity and competitiveness locally and regionally.

The ministry has an integrated plan and adopted strategies to ensure co-operation with the private sector and concerned institutions to study the situation of the sector and put forward recommendations to enhance it, the minister, Dr Hassan Fakhro, said.

He spoke as he chaired the 13th meeting of the main committee to co-ordinate and integrate SME activities in the kingdom.

He stressed the importance of joint action and co-ordination between all relevant authorities to provide the best services and highest levels of support required by the SMEs sector which has witnessed a remarkable growth in the recent years.

Dr Fakhro emphasised the role of sub-contracting and industrial partnerships in strengthening and diversifying small industries and enterprises and offering their products and services to large companies.

The minister also discussed the role of large and medium companies and their divisions to serve business owners and help economic diversification and the contribution of the industry to the national GDP.

The meeting considered the possibility of helping micro-enterprises submit their audited financial reports to the Company Affairs Directorate at the ministry at a modest cost.

The meeting discussed latest developments related to projects developing the electronic portal for SMEs which is being implemented by the ministry in collaboration with Tamkeen and Bahrain Development Bank (BDB).

The portal aims to encourage a culture of entrepreneurship.

It also aims to promote the development of a dynamic SMEs sector and enhance its contribution to the national economy.

Ebdaa Bank gave a visual presentation of the services offered by it to small projects emanating from Economic Vision 2030 and other national strategies.

Representatives from Economic Development Board, BDB, Tamkeen, Bahrain Chamber of Commerce and Industry, Bahrain Young Entrepreneurs Association, the Supreme Council for the Environment, Ebdaa Bank, the Municipalities and Urban Planning Affairs Ministry, Bahrain Businesswomen Society and the private sector attended the meeting.



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