MANAMA: Abdullah bin Adel Fakhro, Minister of Industry and Commerce and Chairman of the Small and Medium Enterprises (SME) Development Council, chaired the council’s 26th meeting.
Minister Fakhro highlighted the key role of small and medium-sized enterprises in supporting economic development, diversification and sustainability. He stressed the importance of continuing to develop policies and programmes that enhance the sector’s resilience and ability to adapt to economic changes.
The Industry Minister also commended national initiatives supporting SMEs and micro-enterprises, including the economic stimulus package approved by the board of the Labour Fund (Tamkeen), chaired by His Highness Shaikh Isa bin Salman bin Hamad Al Khalifa, Minister of the Prime Minister’s Court and Chairman of the Board of Directors of Tamkeen. He noted that the package will provide grants and financing support to 7,250 Bahraini companies affected by the recent Iranian attacks, helping them maintain operations, speed up recovery and support the stability of the national workforce.
The Industry Ministry reviewed updates on the council’s 2022–2026 plan and progress on performance indicators. Positive results achieved during the implementation period were highlighted, and it was noted that the current phase marks the final stage of the plan ahead of a new development phase that will build on these achievements, ensure continued impact and support national priorities.
The council underlined the importance of continued coordination between relevant entities to ensure effective implementation and the sustainability of initiatives, while keeping pace with regional developments to maintain sector stability and performance. It highlighted Bahrain’s strong adaptability and readiness in dealing with changing conditions.
The council also reviewed several initiatives supporting the sector. Bahrain Development Bank presented updates on financing solutions for SMEs, while Export Bahrain reviewed export performance indicators and efforts to facilitate external trade, including improving logistics procedures and cargo movement to support business continuity and competitiveness.
The meeting concluded with an emphasis on the importance of continued joint efforts to ensure sustainable development in the sector and enhance its readiness to achieve future goals.
