On the sidelines of the second International Mining Conference in Riyadh, the Minister of Industry and Commerce, H.E. Mr. Abdulla bin Adel Fakhro, met with H.E. Minister of Industry and Mineral Resources of the Kingdom of Saudi Arabia, Mr. Bandar bin Ibrahim Al-Khorayef.

.The meeting discussed the long-standing relations between the Kingdom of Bahrain and Saudi Arabia, stressing the esteemed government's support for all programs, initiatives and projects that would strengthen and develop these relations to serves the interest of the people, praising the aspirations and strategic steps led by the Kingdom of Saudi Arabia, which reflect the great interest towards sustainable development of all economic sectors, including the mining sector, to meet the rapid global growth on minerals necessary for the manufacture of advanced technologies, hoping that the forum will achieve its ambitious goals.

H.E. Minister of Industry and Commerce Mr. Abdullah bin Adel Fakhro met with Ambassador of the State of Israel to the Kingdom of Bahrain Eitan Na'eh.

The meeting discussed ways to enhance and develop joint economic relations, the Minister appreciated the diplomatic efforts made by the embassies of the two countries to enhance cooperation and joint work between Bahrain and Israel, stressing the importance of joint meetings and mutual visits between officials in both countries to enhance bilateral economic relations.

For his part, H.E. the Israeli Ambassador expressed his appreciation to the Minister, praising the Kingdom's efforts towards strengthening cooperation between the two countries in all fields.​

Under the patronage of His Excellency Mr. Abdullah bin Adel Fakhro, Minister of Industry and Commerce, the 5^th Gulf Business Incubators and Accelerators Conference, organized by the Bahrain SMEs Development Society in cooperation with the Ministry of Industry and Commerce, was launched on Thursday morning with the participation of a large number of entrepreneurs from Bahrain and GCC countries, at the Wyndham Grand Hotel - Bahrain Bay. 

During the opening ceremony, the Minister delivered a speech where he stressed that the Conference is an important opportunity for participants to exchange experiences in the field of entrepreneurship and SMEs development due to their key role in stimulating and incubating ideas, emphasizing the importance of innovation in keeping pace with the latest developments in this field, as the annual meeting of specialists and experts to discuss the most prominent challenges is an important step to promote and develop this sector and support emerging enterprises. Raising its competitiveness in light of the requirements in the labor market, such as the importance of technological tools to achieve sustainability and growth in particular, and the importance of innovation and commercial utilization of patents and industrial property, which contributes to progressing local economy particularly in the Gulf.

Moreover, the Minister noted that the Kingdom of Bahrain is always keen to keep track of the latest developments in the field of entrepreneurship, with its growing contribution to the GDP, and to strengthen the partnership between the private and public sectors to achieve the goals of the Economic Vision 2030, which revolves around the principles of competition and sustainability to benefit from our human resources as our most valuable assets.

His Excellency added that industrial and intellectual property have a remarkable role in increasing productivity and enhancing competitiveness globally, as nations export their sciences and technologies, and in order to promote innovation in the Kingdom of Bahrain, and to highlight the importance of intellectual property, the Bahrain Center for Innovation and Technology Transfer was established in cooperation with the University of Bahrain.

 
 His Excellency concluded by saying that business incubators and accelerators have a key role in creating the appropriate environment for entrepreneurs, and Bahrain has succeeded in developing this activity that started in 2017 through the continuous updating of regulatory terms and conditions after constant communication with business incubators and accelerators, and the number of licensed incubators and accelerators reached 28 in various fields, including financial technology, media, and medicine. Since the launch of the activity, 757 startups graduated and continued to expand their business in local and regional markets, and statistics showed that 93 graduated institutions showed growth in size, including 86 institutions that turned from micro to small enterprises, 5 institutions that turned into medium-sized enterprises with annual revenues exceeding one million BDs, and two institutions that turned into large-sized institutions with revenues exceeding three million BDs, and we will continue to move forward to make Bahrain an attractive center for billionaire start-ups.

For his part, H.E. Mr. Farouk Almoayad, Honorary President, stressed the importance of the Gulf Conference for Business Incubators and Accelerators in highlighting the importance of the entrepreneurship sector to the national economy over the past four years, and contributed to providing support and development to this sector.

H.E. MP Ahmed Al-Salloum, Chairman of the Bahrain SMEs Development Society, praised the great role played by the Ministry of Industry and Commerce in developing the entrepreneurship sector and contributing to the establishment of many business incubators and accelerators that support this sector, expressing his gratitude for the generous patronage of the Minister, pointing out that His Excellency provides all support to the entrepreneurship sector because he recognizes its importance in the development of the national economy.

This year's conference will host Prof. Dr. Yousef Zia Ardeel, an expert in industrial incubators, who will give a presentation on the role of business incubators and accelerators in promoting entrepreneurship and innovation.

The conference will include three discussion sessions, the first will highlight factors that enable entrepreneurs to invest in new areas to achieve sustainable growth, the second session will discuss the role of investment in the field of technology in supporting business incubators and accelerators and the third session will review models of business incubators and accelerators in various fields.

H.E. Mr. Adel Abdulla Fakhro, Minister of Industry and Commerce Received in his office this morning H.E. Mr. Yousef Shamali, Minister of Industry, Trade, and Supply in Jordan.

The Minister stressed the depth of the strong relations between the Kingdom of Bahrain and Jordan, noting the importance of exchanging experiences in the industrial and commercial field and enhancing bilateral cooperation in this aspect to meet common aspirations and interests, pointing out the Bahraini-Jordanian Joint Business Forum organized by the BCCI, which contributes to the development of bilateral cooperation, especially between the private sectors in both Kingdoms.

Moreover, the meeting reviewed prospects for cooperation and a number of issues of common interest, and discussed the latest global economic developments.​

H.E. the Minister of Industry and Commerce Abdullah bin Adel Fakhro affirmed the strength of historical relations between Bahrain and the United States of America, upon receiving US Ambassador Steven C. Bondy in his office this morning, in the presence of Ministry Undersecretary, Ms. Eman Al-Doseri. Noting the importance of developing bilateral cooperation in the economic field to achieve mutual benefits.

During the meeting, a number of issues of common interest were reviewed, as the Minister praised the increase of trade exchange rates between the two countries, and the expanse of joint cooperation, stressing the importance of maximizing the benefit of the FTA, especially by encouraging private sector institutions to engage in commercial activities in order to achieve goals and aspirations.

H.E. Minister of Industry and Commerce Abdullah bin Adel Fakhroo received in his office at the ministry today the Ambassador of the Republic of India to the Kingdom of Bahrain, Piyush Srivastava, in presence of HE Ms. Eman Ahmed Al Doseri undersecretary of the ministry of industry and commerce.

The meeting reviewed Bahraini-Indian relations and partnership, stressing the importance of developing economic relations and noting the attractive investment environment in Bahrain and the privileges and facilities provided to investors inside and outside Bahrain.

For his part, the Ambassador noted the remarkable progress of bilateral relations in economics, praising the government's efforts to develop the flow of investments.

H.E. Minister of Industry and Commerce, Mr. Abdullah bin Adel Fakhro received in his office Bangladesh Ambassador to the Kingdom of Bahrain Dr. Md. Nazrul Islam.

During the meeting, the Minister welcomed the Ambassador, and pointed to the importance of mutual visits and joint economic events in strengthening and advancing bilateral relations, stressing the Kingdom's commitment to increase the prospects of bilateral cooperation, in what serves the best interest of both countries.

For his part, the Bangladeshi ambassador stressed his continuous keenness to increase the prospects of bilateral cooperation for the benefit and development of both countries and their peoples.

His Excellency Mr. Abdullah bin Adel Fakhroo, Minister of Industry and Commerce, inaugurated the event held by Lulu Hypermarket to showcase and support Bahraini products in celebration of the 51st National Day of the Kingdom of Bahrain. The event was held at Al Dana Mall on December 8 and 9, 2022.

The event spotlighted a number of sectors, including Bahraini SMEs, a Bahraini Farmers' Market, products that have been promoted by Export Bahrain across the global shelves of LuLu and a foodie spotlight on Bahraini chefs. The event was accompanied by a festive National Day holiday promotion on a wide selection of products throughout the store in all the 9 LuLu stores in Bahrain.  with a unique spotlight: a promotional platform to support Bahraini SMEs which are the living core of the Kingdom's economic development. The event was also supported by Export Bahrain, the government body promoting Brand Bahrain goods globally.

On this occasion, Minister of Industry and Commerce, Mr. Abdullah bin Adel Fakhro, indicated that this national occasion is one to celebrate Bahraini people and their interdependence and loyalty to their leadership, which reflects the vision of HM King Hamad bin Isa Al Khalifa, and the efforts and directives of HRH Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, in achieving integrated development and prosperity.

For his part, LuLu Group Director, Mr. Rupawala stated “We are proud to show our commitment to Bahrain by framing the immense progress in Bahraini products over the past couple of years," said LuLu Group Director, Mr. Rupawala, “As a responsible multinational organization, we believe in leveraging our footfall and customer loyalty to promote Bahraini goods. These aspects of national growth are powered by young Bahrainis and form the core of the Kingdom's future progress.  We are looking forward to a lively interaction with the public over the coming National Day weekend."

LuLu has also taken Bahraini products around the world – in partnership with Export Bahrain & Ministry of Industry & Commerce, Lulu has enabled the placement of Bahrain-made goods by SMEs in its stores around the world. In Bahrain, Lulu also enables local enterprise through shelf space for micro-enterprises, SMEs and local farm produce.