Shaikh Mohammed bin Essa Al Khalifa, Chairman of Tamkeen, who opened the first Tamkeen Conference and Expo, said Bahrain boasts a wealth of highly educated and qualified human capital, a liberal and open economic environment bolstered by a strong and well-established regulatory framework as attested to by leading global rankings.
“The Bahraini economy has proven time and again its resilience and ability to continue in an upward trajectory despite local and global challenges,” Shaikh Mohammed in his speech said.
“The advantages have made the Kingdom a preferred gateway for companies and organisations looking to gain a foothold in the GCC market – a market which is currently worth well over $1trillion and expected to reach $2trillion in the next 10 years,” Shaikh Mohammed said.
“In 2012, Bahrain was ranked ninth overall among the Arab and West Asian countries in Foreign Direct Investments. Bahrain was also ranked among the top countries in terms of economic freedom in the MENA region, placing seventh on the 2012 Fraser Institute Report for Economic Freedom,” he said.
“Utilising these unique attributes and competitive advantages to build a strong future for the country, and as part of His Majesty the King’s reform initiative and the astute guidance of His Royal Highness the Crown Prince Salman bin Hamad Al Khalifa, Chairman of the Economic Development Board, the Kingdom of Bahrain formulated a comprehensive economic vision to increase the capabilities and contributions of non-oil sectors to create a better future for all Bahrainis. And this is where Tamkeen came into being as one of the cornerstones of these economic reform initiatives,” the Chairman explained.
“Through its integrated dual approach – which targets both the labour market and the private sector – Tamkeen strives to put Bahrain on the fast track toward a productive and promising future… All while keeping Bahrainis at the very core of this process by fostering the creation and development of enterprises, and secondly, providing supports to enhance the productivity and growth of enterprises and individuals.
“Tamkeen’s success, therefore, is measured by the success of the people of our nation and the Kingdom of Bahrain as a whole… this is overriding principle which drives and motivates us to empower all Bahrainis to achieve their potential.
Highlighting Tamkeen’s achievements he said it had re-injected over BD292 million into the market in the form of support programmes designed to enhance the capabilities of Bahrainis and private sector enterprises.
“Nearly 66,000 individuals and enterprises have benefited from these programmes to date and this includes more than 47,000 Bahrainis who have benefited from Tamkeen’s Human Capital Development programmes including training more than 30,000 Bahrainis in various sectors. Helping 3,500 Bahrainis find gainful employment; enabling more than 3,000 Bahrainis to obtain professional certifications in their fields of specialisation; as for enterprises, more than 19,000 enterprises have benefited from Tamkeen financing and business support services; enabling more than 4,900 enterprises to obtain low-cost financing solutions through Tamkeen’s Enterprise finance portfolio with a current value of BD210 million as well as enhancing the performance of more than 4,500 enterprises through a wide range of Enterprise Development Support services.
“Tamkeen plays a leading role in inspiring Bahrainis to dream and reach even higher by fostering a culture of continuous self-improvement, encouraging learning and career progression, promoting entrepreneurship and business development, advancing women economic empowerment, and developing the skills of our youth.”
“We are immensely proud of the achievements made possible by this support, which in December 2012 earned Tamkeen the Mohammed bin Rashid Award for Young Business Leaders as “Best Initiative Tamkeen was named “Best Initiative Supporting SMEs in Arab Countries”… and the ICAEW’s “Training and Development of Finance Professionals” Award for the Middle East Region.
“Tamkeen remains firm in its role as the private sector’s partner to prosperity. And it is precisely this type of public-private partnership that has been outlined by our leadership as a key factor in raising Bahrain’s profile and making it a leading business hub, as well as creating job opportunities for Bahrainis in burgeoning sectors.
“Given all these facts and indicators, and armed with clear long-term strategic plans, we continue our march forward with full confidence… And pledge to never waver on our duty to support economic development and serve all Bahrainis in order to achieve prosperity for our beloved kingdom,” he added.