H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, affirmed the Ministry's commitment to achieving the objectives of the industrial sector strategy (2022-2026), which comes within the economic recovery plan, in an aim to increase the contribution of the industrial sector to the GDP, and to increase exports of national origin, while providing promising job opportunities for citizens. The Minister noted the approval of the Cabinet to launch the “Takamul" program, which aims to encourage national companies to enhance their contributions to the national economy.
This came during a press conference held to announce the launch (Takamul) Local Value Program in Industry, in the headquarters of the Ministry of Industry and Commerce, in the presence of BCCI Chairman Mr. Sameer Nass, and a number of officials from various concerned authorities.
In his speech, Minister Fakhro indicated that (Takamul) is one of the initiatives of the industrial sector strategy (2022-2026) and was launched as part of the economic recovery plan to achieve comprehensive economic development, seeking to enhance local productions and increasing the efficiency of the value-added chain, directing the expenditures of the industrial sector to the local market, and enhancing the competitiveness of national industrial establishments, in a way that contributes to the development of promising sectors and enhances integration between national industries to achieve a developed and sustainable industry.
The Minister added that the Bahraini Government launched the Industrial Strategy (2022-2026) by the end of 2021, which included 5 main axes : strengthening national industries, investing in infrastructure, improving investors' experience, directing Bahrainis' careers, enhancing laws and legislations, as well as raising the industrial sector's contribution to the GDP, increasing exports of national origin, and providing promising job opportunities for citizens.
In conclusion, His Excellency noted that the program will contribute to encouraging national companies and enhancing their contribution to the national economy, the companies' contributions will be measured and those who meet the criteria will be granted a preference in government procurement by 10%.
For his part, H.E. Mr. Sameer Nass, Chairman of the Board of Directors of the Bahrain Chamber of Industry and Commerce, praised the initiative to launch the Local Value in Industry Program "Takamul", which constitutes an opportunity for the local industrial sector to enhance and develop its contribution to the development of the national economy. Noting that the value-added certificate poses an incentive for the industrial sector in the Kingdom of Bahrain to increase its contribution to GDP.
Mr. Nass added that this strategic initiative contributes to creating job opportunities for citizens, in addition to enhancing the opportunities of Bahraini Businesses. Moreover, he stressed that the commercial street does not hesitate to support initiatives that support the industrial sector in Bahrain, due to its major role in the development of the national economy.
Dr. Khaled Fahd Al-Alawi, Assistant Undersecretary for Industrial Development, gave a brief presentation on (Takamul), where he reviewed the program's detailed objectives, the approved performance indicators for its evaluation and follow-up, and how to join it.
