The Auditors' Disciplinary Board, which held its sessions at the Ministry of Industry and Commerce, decided to fine an audit office 10,000 BD, and fine another office 5,000 BD, after proof of external auditors law violation, as well as violating principles of profession and responsibilities entrusted to them, and committing acts that offend the profession, making false statements, and not conforming to international standards of auditing, and preparing and presenting financial statements.

The Ministry requested the convening of the Disciplinary Board after several reports submitted by the Companies Control Directorate at the Ministry, about detecting errors in the final accounts of many of companies they audited, and reports of their violation of international standards of auditing and the preparation and presentation of financial statements, and insufficiency of supporting documents in audit files and other multiple violations.

H.E. Mr. Abdullah bin Adel Fakhroo, Minister of Industry and Commerce, affirmed the Kingdom of Bahrain's pride in the growth of investment projects and international factories based in the Kingdom of Bahrain, noting the facilitations provided by the Government to enhance the Kingdom's investment position as a gateway for business in the region, and ensuring a  friendly industrial environment for these projects to thrive in, which contributes to attracting major international projects to the Kingdom.

This came during a meeting between the Minister of Industry and Commerce and Mr. Maher Abu-Ghazaleh, Chairman and CEO of Universal Rolling Factory, where they reviewed a number of topics of common interest and developments and mechanisms of work in the factory.

During the meeting, H.E. Fakhro praised the new steps taken by the management of Universal Rolling Factory to transform the facility into an advanced environment-friendly facility, and their work to increase productivity according to local and international standards, noting factory's significance as one of the largest steel factories in the Kingdom of Bahrain for rebar production.

For his part, Mr. Maher Abu-Ghazaleh, Chairman and CEO of Universal Rolling Factory, noted the keenness of the Kingdom of Bahrain to promote and develop partnership between the public and private sectors and raise the contributions of the private sector to the economy and national development.​

The Ministry of Industry and Commerce signed an agreement to lease a 107,000 sqm industrial plot in Salman Industrial City for Bahrain Sugar Refinery LLC, one of the industries that support the objectives of the industrial sector strategy (2022-2026), as the Bahrain Sugar Refinery is a key pillar of the food industry in the region and is expected to increase exports and contribution of the industrial sector to the GDP, in addition to Creating promising job opportunities for citizens.

On this occasion, His Excellency Dr. Khalid Fahad Al-Alawi, Assistant Undersecretary for Industrial Development at the Ministry of Industry and Commerce, noted that the economic recovery plan includes the development of promising sectors, as the Ministry of Industry and Commerce proposed comprehensive economic development initiatives to implement the vision of HM King Hamad bin Isa Al Khalifa, adding that the Bahraini Government, led by HRH  Prince Salman bin Hamad Al Khalifa Crown Prince and Prime Minister, is keen on supporting the industrial sector, which contributes to creating qualitative opportunities for citizens, and this is what the industrial sector strategy (2022-2026) seeks to achieve.

 Bahrain Sugar Refinery LLC acquired the sugar factory after bidding it in a public auction for US$ 21.2 M, and it is expected to start operating during the first quarter of next year with a production capacity of about 600,000 metric tons per year for sugar, 7,600 metric tons per year for molasses, and 10,000 metric tons per year for yeast. The company also stated a plan invest approximately BD 70 M to operate and expand the factory in the future by establishing new production lines within integrated industrial zones, the factory will create over 200 job opportunities.

Minister of Industry and Commerce, H.E. Mr. Abdullah bin Adel Fakhro, received in his office this morning, Bahrain SMEs Development Society President Mr. Ahmed Al-Salloum, to discuss topics related to the SMEs sector in Bahrain.

The Minister affirmed the Ministry's commitment to support all Bahrain's economic sectors, especially small and medium enterprises (SMEs), which is witnessing a remarkable growth, and increasing contribution to the GDP thanks to government initiatives to upgrade this vital sector. 

Mr. Ahmed Al-Salloum stressed that tremendous efforts to support SMEs contributed significantly to its growth and prosperity, appreciating in this context all the decisions adopted by the esteemed government to enhance and develop this sector.​

Minister of Industry and Commerce, H.E. Mr. Abdullah bin Adel Fakhro, received businesswoman Feryal Abdullah Nass, Founder and Chairwoman of Entrepreneurship Bahrain , to discuss aspects of joint cooperation in the field of entrepreneurship.​

H.E. the Minister stressed the importance of strengthening partnership with the private sector to support the development of the national economy, affirming the Ministry's keenness to increase joint cooperation with Entrepreneurship Bahrain to achieve the goals of the 2030 Economic Vision, praising the Foundation's efforts in supporting and empowering entrepreneurs to develop their capabilities and stimulate their innovation

H.E. Mr. Abdullah bin Adel Fakhro, Minister of Industry and Commerce, affirmed the importance of developing local food industries to ensure food security, noting the Ministry's confidence and constant support to local commercial companies, for their significant contribution to advancing the national economy, pointing to the continuous efforts to promote local investments and attract competitive industries to serve the local, regional and global market.

This came during the launch of "Al Ghadeer brand ", under the patronage of the Minister of Industry and Commerce, in the presence the Undersecretary of the Ministry of Industry and Commers Eman Ahmed Al-Doseri, and Mr. Isa Al Daaysi and a number of senior officials from Lulu Hypermarket and Al Daaysi Holding Company, at Lulu Hypermarket Market in Ramli Mall.

The Minister listened to a briefing on the various products offered by the brand and expressed his thanks and appreciation to Al-Duaisi Holding Company for their contributions to strengthening the local food sector and its diversity.

Registered as a Bahraini trademark since 1970, Al Ghadeer is one of the leading brands in the field of poultry, specializing in whole chicken, chicken cutlets and processed chicken, and seeking to participate in achieving Bahrain's food security goals by expanding local and global investment.​

H.E. Mr. Abdullah bin Adel Fakhro, Minister of Industry and Commerce received in his office this morning Korean Ambassador to the kingdom of Bahrain, H.E. Mr. Hae Kwon Chung, in the presence of Ms. Eman Ahmed Al-Doseri, Undersecretary of the Ministry of Indusrty and Commerce, where they discussed and reviewed joint cooperation between the Kingdom of Bahrain and the Republic of Korea, especially in the economic field.

The Ambassador congratulated the Minister on the Royal Decree appointing him Minister of Industry and Commerce, wishing him success in his new position. As for his part, the Minister welcomed the Korean Ambassador, noting the cooperative relations between Bahrain and Korea and the progress and development they are witnessing in various fields, especially industrial, commercial and investment, affirming the Kingdom's keenness to increase bilateral cooperation towards the best interest of both countries and peoples.

During the meeting, they reviewed Bahrain's economic structure as a preferred investment destination for many huge industrial and commercial projects worldwide, and the Minister expressed his appreciation for the efforts of the Korean Embassy to develop economic relations and cooperation between the two countries to achieve aspirations.

The Bahrain Chamber of Commerce and Industry (BCCI) held a ceremony honoring H.E. Mr. Abdullah bin Adel Fakhro, Minister of Industry and Commerce, former member of its Board of Directors, to appreciate his efforts during his membership, and congratulate him on the Royal Decree by HM King Hamad bin Isa bin Salman Al Khalifa, appointing him Minister of Industry and Commerce, wishing him a career full of achievements and success.

BCCI President Mr. Sameer Abdulla Nass conveyed the greetings of BCCI's 30^th round Board of Directors to the Minister of Industry and Commerce, noting and praising His Excellency's achievements during his tenure on the Board of Directors. Mr. Nass expressed his keenness to enhance cooperation and joint coordination between the Ministry and the Chamber, in order to achieve further progress and growth in the national economy and meet the needs and aspirations of the commercial sector.

The Minister expressed his appreciation for the great support provided by BCCI members of the Board of Directors, headed by H.E. Mr. Sameer bin Abdullah Nass, during his board membership, and stated: "We are working together for the country's economic development, the main axis that supports all aspects of national development, and I invite you to continue this joint effort to achieve goals and enhance the strength and durability of our national economy and its commercial environment."

The ceremony was attended by a number of members of the Board of Directors, in addition to the Chamber's employees.