The Minister of Industry, Commerce and Tourism receives Ambassador of the Republic of Sri Lanka Dr. A. Saj U. Mendis, where they discussed and reviewed ways of cooperation between the two countries especially in the economic field.

During the meeting, they reviewed the economic infrastructure of the Kingdom of Bahrain and its advantages, which makes Bahrain a preferred investment destination for many of the world's largest industrial and commercial enterprises. The minister appreciates the efforts undertaken by the Sri Lanka Embassy in developing bilateral relation between the two countries and upgrading economic cooperation to the desired level, stressing government’s continuous efforts to foster these relations and increase bilateral cooperation in industrial, commercial and investment sector.

In line with the directives of the Government Executive Committee chaired by HRH Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, the Minister of Industry, Commerce and Tourism and Chairman of the SME Development Board Zayed R. Alzayani launched Export Bahrain.

Launched by the SME Development board in cooperation with Tamkeen, Export Bahrain aims to strengthen the private sector’s role, promote exports and increase the competitive power of local small and medium enterprises.

During the launch, HE the Minister of Industry, Commerce and Tourism delivered a speech in which he thanked HRH the Crown Prince for continuously supporting the initiative, noting that Export Bahrain reflects the Kingdom’s long-standing commitment to accelerating diversification efforts.

HE the Minister went on noting that SME Development Board’s five-year plan includes several initiatives that aim to facilitate financing, increase market access, streamline Bahrain’s business environment, improve skill sets, and foster innovation to achieve sustainable growth. On that note, HE the Minister went on affirming that Export Bahrain will increase exports’ contribution to GDP from 30% to 40%, increase the share of exports from 8% to 20% and increase the number of Bahrainis working in SMEs from 36,000 to 43,000.

HE Mr Khalid Al Rumaihi, Chief Executive of the Economic Development Board (EDB), said: "Export Bahrain will play a major role in increasing domestic exports, an objective that we aim to achieve in the Kingdom. This increase has a direct impact on the trade balance and improved cash reserves, and indirect effects that include contribution to job creation. This is what we seek to achieve in the Economic Development Board through attracting and encouraging domestic and foreign investments in order to raise productivity and increase exports."

The Chief Executive of Tamkeeen, HE Dr. Ibrahim Mohammed Janahi, said that Export Bahrain aims to support local companies that wish to expand into international markets.

HE Mr. Ashish Shah, Director, Division of Country Programmes at the International Trade Centre (ITC), highlighted Export Bahrain’s strong partnership with trade and investment promotion organizations around the world, noting that the establishment will contribute to the diversification of the economy and enhance the competitiveness of SMEs. 

HE Mr. Shah concluded by expressing ITC’s readiness to provide the required technical assistance to enhance exports, which includes providing advisory services to the center, cooperating with the Arab Investment & Export Credit Guarantee to introduce export insurance, and providing financing services in partnership with Bahrain Islamic Bank and Bahrain Development Bank.

Dr Nasser Qaedi, Executive Director of Export Bahrain also gave an overview of the wide-ranging services offered by Export Bahrain in order to achieve its objectives. Qaedi highlighted that Export Bahrain is committed to streamlining export related processes, increase marketing opportunities for exporting SME’s, and enhance their efficiency.

Export Bahrain, in cooperation with a number of local organizations, will launch programs to increase export opportunities by establishing a business directory, and to increase national companies’ export capacities. To achieve that a number of key indicators have been developed to measure and track the growth of exports, the presence of local goods in foreign markets and the national export volume index. 

Today's launch took place in conjunction with the final stage of preparation for the 'Made in Bahrain' trademark, which has been approved by MOICT and will soon be used by local businesses to promote Bahraini-made products.

Under the Patronage of HE the minister of Industry, Commerce & Tourism Mr. Zayed R. Alzayani, the 6th International Professional Conference is launched under title of “The Future of the Accounting Profession in Light of the Knowledge Revolution”. The conference is organized by the International Arab Society of Certified Accountants at Wyndham Grand Hotel.

During the opening ceremony, the minister pointed out that the global economy in general and the emerging economies in particular requires more accuracy for the opportunities available. He added that are accounting reports are the most important elements of attracting foreign investments and capital and localization local investments in addition of being a key source of decision-making. 

He pointed out that profession of accounting and auditing are like other professions face many challenges. Globalization and the rapid economic challenges that have emerged in the business environment have slowdown of economic growth, resulted in major changes in the profession of accounting and auditing, and required new roles and duties for accountants and auditors to establish strong rules in line with the developments.

The great efforts and keenness undertaken by the government of the Kingdom of Bahrain to face the challenges professionally has been able to deal with all difficulties, overcome them, and thus maintain its advances position internationally in all economic and developmental fields.  

Director of Standardization & Metrology held a meeting with the representatives of the Bahrain Logistics Syndicate headed by Mr. Abdul Ghaffar Al Bastaki, in the presence of representatives from Bahrain Transport Society and Bahrain Customs Clearance Society.

During the meeting, they discussed the latest developments work process of syndicate on products and national and administrative technical requirements for buses and trucks under the general use classification. They also touched the difficulties that face by traders and importers during customs clearance and mechanisms that contributes to facilitate their work.

The Minister of Industry, Commerce & Tourism Mr. Zayed R. Alzayani chairs the 2nd   meeting of the task force for Reducing Operational Expenditure (Rents). 

During the meeting, they discussed applications received from various government bodies on Operational Expenditure (Rents). Forming task force came to implement the financial balance program, and under the decision of Deputy Prime Minister and Chairman of the Ministerial Committee for Financial Affairs (No. 2/2018) to Assign  the Minister of Industry, Commerce and Tourism to chair  the task force for Reducing Operational Expenditure (Rents).

Under the patronage of the Minister of Industry, Commerce and Tourism Mr. Zayed R. Alzayani, Assistant Undersecretary of Resources & Services Mr. Abdulaziz Alashraaf launched "Bahrain eCommerce Academy" initiative. The ceremony held in cooperation with ThinkSmart for Development and Training and Tamkeen support at the Wyndham Grand Hotel Manama. 

The ceremony began with a welcome speech by Mr. Abdulaziz Alashraaf, in which he stressed the importance of specialized training courses in eCommerce for the adoption of innovation and entrepreneurship, overcoming the technical gap and all the challenges that may face by the commercial establishments in Bahrain. This will help in building a productive economy that is able to compete globally by elevating the private sector, individuals and institutions, and enabling them to play its national role in advancing economic development.

Furthermore, Mr. Alashraf stated that "eCommerce today opens new horizons for businesses in various sectors, especially as the volume of eCommerce sales around the world is increasing and reaching an annual rate of 25.3 trillion US dollars, according to the United Nations Conference on Trade and Development (UNCTAD) During the opening of the "eCommerce week" in April 2018. He also pointed that the value of eCommerce between companies is estimated at 22.4 trillion US dollars. While the volume of electronic commerce from companies to consumers about 2.9 trillion US dollars. This confirms the vitality of this economic sector and its various successes, especially with the presence of more than two million companies around the world working in this area.”

To support these digital transformations, the Bahrain eCommerce Academy will contribute in the creation of an integrated training platform based on the refinement of technical skills and the provision of the necessary information and expertise, which will encourage investment in the field of eCommerce and qualify the entrepreneurs and the Bahraini community in eCommerce transactions.

Ministry of Industry, Commerce and Tourism always seeks to launch initiatives aimed at regulating trade transactions through the enactment of legal frameworks and legislations that in turn enhance confidence among the dealers.

Moreover, Mr. Ahmed Al-Hujairi, Group CEO of ThinkSmart said in the launching ceremony that "With the technological developments we are witnessing today, the need for specialized training courses in the field of eCommerce has become a prerequisite for the growth of businesses using electronic channels, that help them enter the global markets.”

As well as “this academy will provide Bahraini businessmen and startups with the necessary electronic technical skills and train them on how to use the global platforms such as Amazon that can help immensely in electronic marketing and development.”

Mr. Ahmed Al-Hujairi Appreciated the support of the Ministry of Industry, Commerce and Tourism for launching the eBusiness academy and Tamkeen for providing financial support through which it will contribute to creating quality training opportunities for Bahrainis in this field.

Founder and Chairman of Aquitude Consulting and Training in the field of eCommerce and digital marketing Ms. Christina Loannidis gave a presentation explaining the future of eBusiness and the elements of success by building clear strategies using the basics of eCommerce.

The first eCommerce training course will be launched today with the participation of 25 trainees from business, and emerging companies to incorporate the basic skills of eCommerce, to understand the concepts needed to manage eBusiness, and to focus on the benefits of eCommerce applications for businesses. This training course will last for four consecutive days at the Wyndham Grand Hotel Manama.

​Under the Patronage of HE Mr. Zayed R. Alzayani, the Minister of Industry, Commerce and Tourism, Undersecretary of Industry Affairs Mr. Osama Mohammed Alorrayedh today performed the grand opening of DEVJI & Company’s new gold factory and DEVJI Aurum’s gold and diamond jewellery factory located in the Bahrain International Investment Park  (BIIP) in Salman Industrial City Bahrain. The opening took place in the presence of HE Mr. Alok Kumar Sinha (Indian Ambassador to Kingdom of Bahrain). 

On this occasion, Undersecretary of Industry Affairs said, “I am delighted when looking for a new production location in the GCC region Bahrain International Investment Park (BIIP) stood out as your preferred location, based on the quality infrastructure and the competitive advantages Bahrain offers, along with our business friendly environment.”

H.E. Zayed R. Alzayani, Minister of Industry, Commerce and Tourism said: “The decision to locate this new facility in the Bahrain International Investment Park is a testament to the quality of the location and the competitive advantages which Bahrain has to offer to international companies. This investment greatly strengthens Bahrain's position as a global destination for manufacturing excellence. We wish DEVJI Group every success and we will continue to provide every support possible as they grow their business in Bahrain.’’

H.E. Khalid Al Rumaihi, Chief Executive of Bahrain Economic Development Board (EDB), said: “We’re delighted to welcome Devji & Company’s new gold factory and Devji Aurum’s diamond & jewellery factory to Bahrain. This investment is yet another example of the strength of Bahrain’s long-established and diverse manufacturing sector and demonstrates how Bahrain’s status as one of the region’s manufacturing centres helps create investment opportunities. Manufacturers from around the world have established operations in Bahrain to take advantage of the Kingdom’s liberal business environment, excellent regional transport links, low operating costs and skilled local workforce.”

The event was also graced by the presence of H.E. Alok Kumar Sinha, The Indian Ambassador to Bahrain, who commented, “This investment by DEVJI Group demonstrates once again the excellent business ties that exist between the two countries and the capabilities that can be brought to bear when the opportunity presents. We look forward to seeing more such investments in the industrial sector combining stakeholders from both of our countries’’

Mr Bhaskar Devji quoted that ‘We are delighted to mark this significant milestone by opening our two new state-of-the-art jewellery production facilities on Bahrain International Investment Park. The Devji name carries with it certain expectations, built by the service and quality delivered over the years. We have been recognized for our craftsmanship and innovation, hard work, dedication, entrepreneurship and the vision of the founder is reflected in every aspect of the business.'

The company has been established since 1950 to manufacture and market Bahraini jewellery to customers across the GCC sold via their network of wholesale offices and Retail stores. Building on a strong-rooted heritage in gold jewellery the legacy of Late Founder Shri Devjibhai Ramjibhai Sagar, and nine generations of goldsmiths before him. The cornerstones of Craftsmanship, Innovation, Integrity and Empathy drive the passion for the craft and the surety that his innate vision brings each piece to life.

The second generation of Devji Family – Mr Bhaskar Devji, Mr. Prakash Devji, and Mr. Mahesh Devji learned the skills and principles from their father and expanded the business across the GCC & India with more than 21 retail and wholesale locations. The third generations in the family Mr Kapil Prakash, Mr. Arjun Bhaskar, Mr. Dev Mahesh & Mr. Abhishek Prakash are actively taking part in the business operations and have made strong contributions to the current expansion of the group.  

The Devji Group has invested approximately BD 8 million including infrastructure built over 6,000 sq metres of industrial space in the BIIP and manufactures handcrafted, eye-catching designer bridal, fashion diamond and gold Jewellery. The two units currently employs 130+ highly skilled artisans. Further investments are planned to enhance the superiority of the product qualities to compete with global competition targeting to employ additional 100+ staff in BIIP. The group has further expansion plans in the ​middle-eastern region and is all set to make a global footprint by entering new markets in the west and far-east. The group also has plans to participate in prestigious international jewellery exhibitions such as Couture and JCK in Las Vegas, Baselworld Switzerland, VICENZAORO Italy, HongKong Jewellery & Gem Fair and many other international jewellery exhibitions to showcase best quality jewellery that is “Made in Bahrain”.

A range of VIPs and senior executives attended the event including shareholders, management, MOICT, EDB, Tamkeen, Municipality, Customs, along with Devji and Company customers, suppliers, staff and representatives from the Indian, banking and legal communities.

The minister of Industry, Commerce & Tourism Mr. Zayed R. Alzayani received in his office the Chairman of the Board of Directors of Alayam Newspaper Mr. Najeeb Al Hamer, Editor in Chief Mr. Isa Alshayji and Alayam Board Member and Editor-in-Chief of online newspaper Mr. Rashid Al Hamer.

During the meeting, the Minister expressed Government's support and support to all local media institutions aimed at enhancing the good reputation of the Kingdom of Bahrain and highlighting the achievements of the Kingdom regionally and globally, praising the great role played by Alayam to achieve Kingdom’s vision especially in the economic field.

The minister also reviewed the economic developments and growth witnessed by the economic sector in the Kingdom of Bahrain and the volume of investments that were attracted by the region and the world.