Under the patronage of H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, the SMEs Development Society held the annual Ramadan evening, in the presence of Assistant Undersecretary for Industrial Development Khaled Fahad Al-Alawi, Mr. Farouk Yousuf Khalil Almoayyed, Honorary President of the Bahrain SMEs Development Society and its affiliated incubators, and MP Ahmed Sabah Al-Salloum, President of the Bahrain SMEs Development Society, in addition to a group of participants and officials at the Intercontinental Regency Hotel.
H.E. Al Alawi affirmed the keenness of the Kingdom of Bahrain to continue supporting all economic sectors, especially SMEs, noting the remarkable increase in its contribution to the GDP thanks to the governments support.
Moreover, Al Alawi pointed to the vital and effective role of the SMEs sector in supporting the national economy, noting that the Ministry of Industry and Commerce provides various facilities that promote this sector and contribute to its growth.
For his part, Mr. Farouk Almoayyed stressed his continuous support for entrepreneurs and SMEs, noting that this sector is the pillar of national economy, and that its development will contribute significantly to creating more job opportunities.
On the other hand, MP Ahmed Al-Salloum praised the government's success in achieving significant savings in the general budget for the fiscal years 2023-2024 by BD. 272 M for the fiscal year 2023 and about BD. 710 M for the fiscal year 2024, which proves the success of the fiscal balance program to bring the budget deficit to zero.
Al-Salloum praised the efforts of the Ministry of Industry and Commerce, headed by H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, in supporting entrepreneurs by sponsoring events and programs provided by the Society to business owners and working to facilitate many things and overcome obstacles that face business accelerators and owners, expressing his hope for more support, in light of the rise of interest rates.
The evening discussed many topics and issues related to SMEs, in addition to honoring a number of media professionals, journalists and partners in appreciation of their efforts and continuous support for of the Society.
