The Ministry of Industry, Commerce & Tourism holds 1st periodic meeting with SMEs owners

The Minister of Industry, Commerce and Tourism Mr. Zayed R. Alzayani hosted a group of small and medium enterprises owners in the  1st SMEs periodic meeting with to discuss the most important relevant topics. The meeting was held at Ministry’s premises at Bahrain Harbour Gate.
During the meeting, a number of issues and problems were raised by the owners of SMEs, expressing their appreciation for the initiative of the Minister, which may be excellent in communicating with the concerned to highlight obstacles and updates.
Their problems were varies between procedures of the competent authorities that impede their work and cause the failure of their institutions, in addition to the labor permits, and the need to find a clear mechanism to coordinate between all government agencies to ensure the smooth work of small and medium enterprises. As well as loans, fear of bankruptcy and other problems related to this sector.
For his part, the Minister welcomed all the views, observations and complaints and promised that the ministry will work with the concerned authorities to solve them. He stressed that Ministry’s doors are open to all, in addition to other means of communication that the Ministry follow up and respond to them as quickly as possible. The minister stressed the seriousness of the government headed by HRH Prince Salman bin Hamad Al Khalifa Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister in developing SMEs sector as it considered the main pillar of the national economy.
The Ministry of Industry, Commerce and Tourism and under the directives of HRH the Crown Prince, in cooperation and coordination with other concerned bodies such as EDB, Tamkeen, BDB, BCCI has undertaken many initiatives and steps that some have been completed and some are still in progress. These include the launch of SMEs Development Board and adopting a strategy for this board. And develop three key indicators to measure the growth of the sector; increase Bahraini labor, Increase the share of SMEs in exports and increase their contribution to GDP. Among the initiatives that have been accomplished are business incubators and accelerators, allocate 20% of the value of government procurements to SMEs. It is hoped that the Export Development Center will be launched later this year, and develop special database for SMEs and bankruptcy law.
The Minister stressed that Ministry’s doors are open the public and business owners to achieve the public interest of the Kingdom of Bahrain.
It should be noted that holding a periodic meeting with SMEs would allow to hear views and identify challenges facing their business. The ministry is keen to involve the private sector in its future vision and initiatives.