The twenty-third meeting of the Small and Medium Enterprises Development Board was held under the chairmanship of H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, and in the presence of representatives of member entities, on Tuesday 18^th February 2025 via video conference.

At the beginning of the meeting, the Ministry of Industry and Commerce reviewed the recommendations of the twenty-second meeting, in addition to the latest developments and key performance indicators of the Board until the end of 2024.

The Labour Fund "Tamkeen" gave a presentation on the latest developments in the SMEs Development Board strategy roadmap, in addition to presenting a questionnaire addressed to the private sector in the Kingdom of Bahrain in joint cooperation between Tamkeen, the World Bank and Ipsos, which aims to bridge knowledge gaps in the labor market and analyze the drivers of the private sector, and the obstacles that prevent growth, job creation, innovation and sustainability, to provide appropriate solutions and improve the business environment.

The Tender Board also presented a report on supporting initiatives and ways to enhance SME access to government tenders, and discussed future plans to address any challenges.

Al Amal Fund then gave a visual presentation, highlighting ways to enhance investment in the incubators and accelerators sector according to the best international practices.

Export Bahrain reviewed the latest statistics, achievements and solutions available in the field of export.

At the end of the meeting, HE Minister Fakhro praised the achievements of the Council, stressing the need to continue efforts to enhance cooperation between the concerned authorities to support the SMEs and entrepreneurship sector, in a way that strengthens the foundations of this sector and contributes to its development in order to build the national economy.

HE Mr. Abdulla bin Adel Fakhro Minister of Industry and Commerce stressed the importance of cooperation between the public and private sectors in advancing economic development, noting the private sector’s prominent contributions in supporting various industries in the country, enhancing the GDP, and expanding investment and export opportunities.

This came during the official inauguration of NEO Chemical Factory in Hidd Industrial Area, where His Excellency was received by Mr. Saud Kanoo, Chairman of the Board of Directors, and a number of officials. 

His Excellency toured the factory and was briefed on the factory's sustainable practices and future plans. Where he praised the company’s efforts in strengthening the link between the Kingdom of Bahrain and regional and international markets, wishing the factory team success in achieving goals and aspirations.

NEO Chemical Factory is one of the companies specialized in the production of concrete additives, concrete restoration and protection, specialized mortar, waterproofing, plaster, tile adhesives and separator filling materials, floor solutions, and concrete bases.

The Joint Economic Committee between the Ministry of Industry and Commerce and the Bahrain Chamber of Commerce and Industry held its forty-sixth meeting at the Ministry’s headquarters in Bahrain Financial Harbor. The Ministry of Industry and Commerce was chaired by H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, and the BCCI was chaired by BCCI Chairman H.E. Mr. Sameer bin Abdullah Nass, in the presence of a number of officials and members of the Joint Committee from both sides.

During the meeting, the Minister of Industry and Commerce stressed the importance of strengthening cooperation between the Ministry of Industry and Commerce and the BCCI, noting that these meetings represent an ideal platform for exchanging ideas and visions on current economic issues. His Excellency also pointed to the BCCI’s pivotal role in supporting and developing the business environment, leading to the achievement of sustainable development goals.

The Minister added that the Ministry is working to implement effective initiatives to improve investment and enhance Bahraini products’ competitiveness, stressing the government's commitment to supporting investors and local entrepreneurs.

For his part, Nass affirmed that the Chamber prioritizes enhancing the business environment and boosting economic competitiveness, noting that this meeting represents a milestone in the coordination process between the public and private sectors, which reflects Bahrain's commitment to providing a flexible and dynamic economic environment. Adding that these meetings consolidate the effective partnership between the Chamber and the government, to develop a stimulating and attractive business environment for local and foreign investments, which contributes to diversifying sources of national income.

The BCCI Chairman noted the Chamber’s continuous efforts to attract investments and provide practical solutions to challenges facing entrepreneurs. Affirming it commitment to strengthening the effective partnership with the government and launching initiatives that support Bahrain's regional and international competitiveness.

 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.