HE Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, received in his office this morning, HE Ayşe Hilal Sayan Koytak, Ambassador of Türkiye to Bahrain.

The minister affirmed that the depth of bilateral relations between the Kingdom of Bahrain and the Republic of Türkiye widens aspects of cooperation in the fields of industry and commerce. As both sides seek to strengthen strategic partnerships and increase investments.

The meeting also discussed a number of joint initiatives and projects that will enhance trade exchange and increase cooperation in vital sectors, and the importance of leveraging possibilities to promote mutual investments.

For her part, the Ambassador expressed her sincere appreciation to the Minister of Industry and Commerce, and praised the efforts of the Kingdom of Bahrain towards consolidating bilateral relations, looking forward to expanding cooperation in various fields.

HE Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, met with HE Dr. Badr Abdelatty, Minister of Foreign Affairs, Emigration, and Egyptian Expatriates on the sidelines of his official visit to the kingdom of Bahrain

At the beginning of the meeting, the Minister affirmed the depth of bilateral relations between the Kingdom of Bahrain and Egypt, noting the importance of enhancing the prospects of cooperation and joint work in various sectors, including strengthening joint work in the economic sectors and the exchange of experiences and expertise in the industrial and commercial fields, emerging from the common keenness to strengthen bilateral cooperation to serve the interests of both countries and achieve mutual aspirations.

Minister Fakhro highlighted the most prominent features of the promising economic and investment environment in the Kingdom of Bahrain, listing a number of the most prominent local and international strategic projects, and pointing to the facilities provided by the government to investors from all over the world, which had a profound impact on attracting qualitative investments and diversified projects to the Kingdom of Bahrain.

The Ministry of Industry and Commerce and BENEFIT announced the signing of a Memorandum of Understanding (MoU) to develop the corporate credit rating system, with the aim of providing accurate and transparent credit ratings to reflect the financial position of enterprises in the Kingdom of Bahrain, thus facilitating and accelerating SMEs' access to necessary financing to expand their investments.

H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce and Chairman of the SMEs’ Development Council, affirmed the government’s support to this vital sector, under the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, which contributed to empowering it by launching innovative initiatives that facilitate its access to finance to accelerate its growth, given this sector’s pivotal role in developing the national economy.

The Minister added that the MoU signing with BENEFIT is an important step towards strengthening the financial infrastructure of commercial enterprises in the Kingdom of Bahrain. This collaboration reflects our commitment to supporting SMEs by providing innovative solutions that facilitate their access to finance and enhance their ability to grow and compete in the market. 

For his part, BENEFIT CEO Abdulwahid Janahi, said: "We are very pleased to sign the MoU with the Ministry of Industry and Commerce, which comes as an important extension of the services of the Bahrain Credit Information Center operated by BENEFIT, especially with regard to the business sector, noting that the development of mutual knowledge between both parties will enhance the development of the commercial sector and the national economy.

This project supports efforts to strengthen the commercial sector in the Kingdom and provides the necessary tools to support economic growth, as it focuses on the development and implementation of an innovative model for evaluating commercial credit rating, which will contribute to improving financing opportunities for SMEs and enhancing the capabilities of financial institutions in assessing credit risks accurately.

The commercial credit rating system is a vital tool that allows businesses to easily access the necessary financing, speed up the approval processes for credit applications, and improve financing conditions. The system is expected to analyze the financial behavior of commercial enterprises, and provide financiers with a tool that facilitates financing decision-making processes, and this cooperation is expected to support the digital transformation in the finance sector, with a focus on supporting small and medium enterprises.

H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, inaugurated "Mad Park" playground at Al Aali Mall, Bahrain's first and largest augmented reality playground, in the presence of H.E. MP Mamdouh Al-Saleh, and a number of officials. 

The Minister toured the playground and praised the private sector’s contributions in various economic sectors, noting that modern entertainment centers equipped with advanced technologies attract a diverse segment of visitors from different age groups, including visitors and tourists.

His Excellency affirmed the Ministry’s commitment to supporting these projects towards further success.

H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, visited Jalal Ionics Company "Aqua Cool" in Mina Salman Industrial Area, as part of the continuous efforts to follow-up on all developments and production mechanisms in the industrial sector facilities in accordance with the requirements of the local and regional market and in accordance with international standards.

His Excellency the Minister was briefed on all stages of bottled mineral water production, starting from the harvesting and processing process to the water bottling process. Factory director Mr. Mahmoud Al Hashemi gave a detailed explanation to His Excellency the Minister on the mechanisms of the factory's commitment to achieving high quality in products and health and safety standards in line with international standards.

Minister Fakhro expressed his pride in local industry, praising the Company’s efforts in promoting the field of water industry in the Kingdom and the quality of the factory's products, and affirming the Ministry's commitment to push local factories to achieve the objectives of the Industrial Sector Strategy (2022-2026), which aims to increase the contribution of the industrial sector to the GDP, increase exports of the industrial sector of national origin, achieve sustainable development and offer new opportunities for investment and export.

H.E. Mr. Abdulla bin Adel Fakhro Minister of Industry and Commerce, met with Russian Minister of Culture Olga Lyubimova, in the presence of H.E. Aleksei Skosyre, the Russian Ambassador to Bahrain, and a number of officials. Where they discussed the bilateral relations between Bahrain and Russia, and ways to advance cooperation in various fields.

The Minister stressed Bahrain’s keenness to develop global relations, highlighting the importance of mutual visits and joint events in strengthening bilateral relations, referring in this regard to the friendly and welcoming investment environment in the Kingdom of Bahrain, in addition to the economic openness that characterizes it in light of the government's strategies and visions to enhance its position an ideal choice for investors.

For her part, Minister Lyubimova praised the distinguished relationship between the two countries and the importance of bilateral cooperation in all fields.

The Ministry of Industry and Commerce organized a ceremony to honor of commercial stores participating in the third edition of the National Initiative to encourage the commercial sector, where His Excellency Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, honored a group of representatives of the commercial sector who benefited from the national initiative launched by the Ministry of Industry and Commerce, represented by the Consumer Protection Directorate. 

Representatives of the commercial sector were honored in recognition of their efforts and support to the commercial sector during the Bahrain holiday season and the Kingdom of Bahrain's celebrations for the year 2024, and the national initiative included exempting fees for promotional campaigns and extending commercial discounts starting from December 2024.

This initiative received a great turnout from shop owners and commercial complexes around the Kingdom, as 1210 licenses were issued for promotional campaigns and commercial discounts, an increase of approximately 10% compared to 2023.

This initiative is part of the Ministry of Industry and Commerce's efforts to enhance the participation of the commercial sector in national events, and boost the shopping movement during the holiday season, and aims to ensure the stability of local markets and protect consumer rights.

The Consumer Protection Directorate continues to grant the necessary licenses for promotional campaigns and commercial discounts, as well as prize draws, in accordance with Ministerial Resolution No. 1 of 1993, to ensure the regulation of the commercial sector and provide a vibrant and prosperous commercial environment characterized by integrity and justice for consumers in the Kingdom of Bahrain.

The Ministry of Industry and Commerce has announced a comprehensive regulatory campaign to ensure that business owners engaged in "Retail Sales via Internet" activity (ISIC code 4791) adhere to all licensing requirements.

The ministry emphasized that this step is part of its commitment to regulating this sector and protecting the rights of both consumers and merchants, noting that the essential requirements include:

• Registering the e-store link: All business owners must accurately enter their e-store link in the "E-store/E-marketplace Address" field within the ministry's registration system.

• Providing an effective shopping cart: The e-store must include an efficient shopping cart that enables customers to add products to their carts and complete the purchase process easily.

• Providing a secure payment method: The e-store must offer secure online payment options to protect customers' financial data.

• Providing clear policies: All e-stores must provide clear policies for returns, exchanges, usage, and data privacy.

• Providing a delivery service: E-stores must provide an efficient delivery service for products to customers.

The ministry noted that licensees engaged in online sales are prohibited from using a virtual store to sell any products that require approvals from other government agencies.

The ministry called on all business owners engaged in "online sales" activities to comply with these requirements, emphasizing that necessary legal measures will be applied against violators. Moreover, the ministry highlighted the importance of this decision in regulating the e-commerce sector and protecting consumer rights, and that the ministry will continue its efforts to ensure a fair and transparent business environment in the Kingdom.

For inquiries, please contact the Email: ecommerce@moic.gov.bh or by Phone: 1359008-17574969