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. 

H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, affirmed the United Kingdom's role as a major global investment partner, noting the steady growth of economic relations between Bahrain and the UK, which reflects their distinguished historical relations.

This came as H.E. the Minister welcomed Mr. Tom Wintle, UK Chief Negotiator for the UK-GCC Free Trade Agreement (FTA) in his office this morning, in the presence of Mr. Alistair Walker, Head of International Engagement, UK-GCC FTA, and UK Ambassador to Bahrain, Roderick Drummond, where they discussed a number of topics of common interest.

The Minister expressed the keenness of the Kingdom of Bahrain to enhance economic cooperation with the UK in all fields, pointing to the role that the private sector can play in both countries and benefit from the advantages of the FTA, which contributes to achieving common goals and raising rates of trade and investment exchange between the two sides.

H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, affirmed that the Kingdom of Bahrain welcomes all investments that contribute to raising economic growth rates according to the Industrial Sector Strategy 2022-2026, and supports strengthening the economic position of the Kingdom of Bahrain and the objectives of comprehensive development.
 

This came as H.E. Minister of Industry and Commerce received Mr. Rajiv Reddy, Founder and Managing Director of Sanvira, where the Minister noted the investment climate in Bahrain, and the facilities provided by the Kingdom, which contributed to raising investment rates and attracting international companies that started their business in Bahrain, in addition to the remarkable development of the industrial sector in the country.
 

The meeting also discussed cooperation between the two sides, and a number of issues of common interest.​
 

Sanvira is one of the leading manufacturers of calcined petroleum coke, green petroleum coke, high-purity hydrated lime and high-purity quicklime.

H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, affirmed that the Kingdom of Bahrain welcomes all investments that contribute to raising economic growth, considering strategies aimed at enhancing the Kingdom's economic position, most notably the Industrial Sector Strategy "2022-2026", which aims to increase the contribution of the industrial sector to the GDP, increase exports of national origin, and provide promising job opportunities for citizens in the industrial sector.

This came during the visit of H.E. the Minister of Industry and Commerce to Awal Gulf Industries in Sitra, where he was received by Awal Gulf Manufacturing Chairman Mr. Talal Al-Zain, and CEO Mr. Ghassan Freiwat, and a number of board members and company officials.

The Minister praised the role of private sector and the efforts of Awal Gulf in supporting and developing the industrial sector to achieve the aspirations of Bahrain's Economic Vision 2030, affirming the Ministry's commitment to provide support and assistance to companies and develop them in the best interest of the country and citizens.

This visit is part of a series of visits to the industrial and commercial sector, to identify the latest developments in the facilities and identify their conditions, current requirements, and future plans

H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, participated in the virtual roundtable organized by the American Chamber of Commerce (AMCHAM) in cooperation with the Embassy of the Kingdom of Bahrain in the United States of America.

During the meeting, the American Business Council was briefed on the latest efforts of the Ministry of Industry and Commerce to enhance trade cooperation with the US and create more convergence between the Bahraini business community and the American business community to achieve bilateral goals.

The meeting focused on a number of topics, most importantly the launch of the manual of the FTA between Bahrain and the US, in addition to issues related to trade relations and ways to enhance bilateral cooperation.​

H.E. Minister of Industry and Commerce Abdulla bin Adel Fakhro met the Indian Minister of Commerce and Industry H.E. Mr. Piyush Goyal, in the presence of Assistant Undersecretary for Domestic and Foreign Trade H.E. Sh. Hamad bin Salman Al Khalifa, and Bahrain's Ambassador to India H.E. Mr. Abdulrahman Mohammed Al Qaoud, and a number of officials from both sides, as part of the Minister's official visit to India. 

The Minister hailed the historical bilateral relations between Bahrain and India, which contributed to strengthening mutual visits to advance bilateral economic development. 

Pointing in the same regard to both countries' commitment to developing joint relations, sharing expertise, and discussing new opportunities for cooperation in various commercial and industrial fields.

HE Minister of Industry and Commerce, Me. Abdulla bin Adel Fakhro, met with the President of the Federation of Indian Chambers of Commerce and Industry (FICCI) Mr. Subhrakant Panda, in the presence of Bahrain's Ambassador to India Mr. Abdulrahman Al Qaoud, and a number of officials from both sides, as part of the official visit of HE the Minister to the Republic of India.​

The meeting discussed a number of issues of common interest, as well as ways to enhance cooperation and joint work between the private sectors in both countries and benefit from their strong and historical relations to achieve common visions and aspirations.

H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, affirmed the distinguished levels of cooperation between Bahrain and India in various fields, expressing the keenness to develop promising investment opportunities between the two countries and increase the volume of investments and exchanges.

This came during the meeting of H.E. Minister of Industry and Commerce, in the presence of Bahrain's Ambassador to India Mr. Abdulrahman Al Qaoud, and Sh. Hamad bin Salman Al Khalifa, Assistant Undersecretary for Domestic and Foreign Trade, with Mr. Anil Khaitan, president of the Indian PHD Chamber of Commerce and Industry (PHDCCI), and a number of officials from both sides, as part HE's official visit to the Republic of India.

The Minister praised the influential role of the chambers and their committees in developing joint trade and industrial exchange to achieve bilateral aspirations and ambitions.

The meeting discussed a number of joint Bahraini-Indian projects, which would enhance existing economic   relations and develop trade exchange. ​