The minister of Industry, Commerce & Tourism Mr. Zayed R. Alzayani chaired SMEs Development Board meeting in presence of CEO of Bahrain Economic Development Board Mr. Khalid Al Rumaihi, CEO of Bahrain Development Bank Mr. Sattam Alogsaibi, CEO of Tamkeen Dr. Ebrahim Mohammed Janahi.

The establishment of SMEs Development Board came under the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister based on the Economic Vision 2030 due to the importance of SME sector in the local economy, in addition to the urgent need for a national board specialized in its affairs.

During the meeting, a number of organizational topics were discussed for SMEs Board and its role in coordinating the efforts of public and private sector and enhancing ties of cooperation and integration within the framework of Bahrain Economic Vision 2030.

They also touched the development of micro, small and medium enterprises in the Kingdom of Bahrain and the current reality of the institutions with the main focus of current and future programs in five main areas: facilitating financing, regulating business environment, developing skills and enhancing innovation, as well as the market access which focuses on several aspects especially Export Development Center.

D&B consulting company provided a visual presentation on study on how ready the industrial sector in the Kingdom of Bahrain for export. In this context, the stages of the study were reviewed from an analysis of the reality of the Bahraini market and the evaluation the status of small and medium enterprises as well as the micro and entrepreneurial, as well as identifying gaps in export vulnerability and identifying priority exportable sectors. It is worth mentioning that the study will be completed by the end of this year.

They also reviewed government’s effort to develop policies and strategic plans for entrepreneurship and develop projects aimed to enhance their contribution to GDP and creates jobs, as well as establishing necessary rules and regulation to coordinate between SMEs and concerned parties. 

The minister of Industry, Commerce & Tourism Mr. Zayed R. Alzayani chaired SMEs Development Board meeting in presence of CEO of Bahrain Economic Development Board Mr. Khalid Al Rumaihi, CEO of Bahrain Development Bank Mr. Sattam Alogsaibi, CEO of Tamkeen Dr. Ebrahim Mohammed Janahi.

The establishment of SMEs Development Board came under the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister based on the Economic Vision 2030 due to the importance of SME sector in the local economy, in addition to the urgent need for a national board specialized in its affairs.

During the meeting, a number of organizational topics were discussed for SMEs Board and its role in coordinating the efforts of public and private sector and enhancing ties of cooperation and integration within the framework of Bahrain Economic Vision 2030.

They also touched the development of micro, small and medium enterprises in the Kingdom of Bahrain and the current reality of the institutions with the main focus of current and future programs in five main areas: facilitating financing, regulating business environment, developing skills and enhancing innovation, as well as the market access which focuses on several aspects especially Export Development Center.

D&B consulting company provided a visual presentation on study on how ready the industrial sector in the Kingdom of Bahrain for export. In this context, the stages of the study were reviewed from an analysis of the reality of the Bahraini market and the evaluation the status of small and medium enterprises as well as the micro and entrepreneurial, as well as identifying gaps in export vulnerability and identifying priority exportable sectors. It is worth mentioning that the study will be completed by the end of this year.

They also reviewed government’s effort to develop policies and strategic plans for entrepreneurship and develop projects aimed to enhance their contribution to GDP and creates jobs, as well as establishing necessary rules and regulation to coordinate between SMEs and concerned parties. 

Undersecretary of Commerce Affairs Mr. Nader Al Moayyed met with a number of Parliamentary delegation of the State Duma of the Russian Federation led by Russell Borisovich Butashek, who are currently visiting the Kingdom of Bahrain.

During the meeting, they discussed several issues and topic related to the economic relation between the Kingdom of Bahrain and Russia. Undersecretary praised the role undertaken by the leaders and governments of the two countries to develop and strengthen these relations,

He also stressed the importance of mutual visits to exchange visions between decision-makers and legislators in enhancing parliamentary experience and strengthening economic relations between the Kingdom of Bahrain and the Russian.

Minister of Industry, Commerce and Tourism Mr. Zayed R. Alzayani received the newly-appointed Jordanian Ambassador to the Kingdom of Bahrain, Rami Wriekat.

The Minister welcomed the ambassador, reviewing the bilateral relations between the Kingdom of Bahrain and Jordan, and ways to enhance cooperation in all field particularly industrial, commercial, tourism and investment as well as discussing common issues.

The minister wished the new ambassador success in her diplomatic mission, pointing to the role that could be played by the private sector in both countries, which can significantly contribute to achieve common goals.

The directorate of Precious Metals & Gem Testing of the Ministry of Industry, Commerce and Tourism participated in the annual event Jewellery Arabia 2017 from 21-25 November at the Bahrain International Exhibition and Convention Centre.

The participation of the Ministry in this year's exhibition is special. For the first time, the Directorate of Precious Metals & Gem Testing will provide an assay and hallmarks field for jewelry and precious metals purchased for consumer and visitors by using non-coalition radiation scanning technology and laser marking for microprocessors. This will enhance consumers’ confidence in the products offered, in addition to monitor all exhibitors and verify their products to comply manufacturing and inspection standards. As well as receive complaints from the visitors and solve them according to legal frameworks.

As part of its continuous efforts to strengthen communication and cooperation between policy makers and the startup community in the Kingdom, C5 Accelerate, in partnership with Tamkeen, hosted His Excellency Zayed R.  Alzayani, the Minister of Industry, Commerce and Tourism for a fireside chat with the startup community. The event was entitled C5's Policy Hack. His Excellency discussed the future direction of Bahrain’s economy and the importance of supporting and fostering small and medium enterprises (SME's) to create a diversified private sector of thriving industries.

The minister also touched on the latest regulatory reforms such as, the accelerators and incubator license, and the steps the Kingdom has taken to capitalize on technological innovation, transformation and convergence. The event ended with an open Q&A session with the startup community and networking opportunities.
 Hadyah Fathalla, Executive Director of C5 Accelerate, commented: “We are excited to host His Excellency, Zayed R. Alzayani to discuss the MOIC's successes in liberalizing the market, encouraging entrepreneurship, and reducing government's role to a more regulatory one and what his plans are for the future. The government plays an instrumental role in creating the right incentives and, more importantly, encouraging and nurturing a supportive environment conducive to the emergence of a robust and sustainable startup ecosystem. Greater conversations and cooperation between all stakeholders and government is key and this event is part of our plan to create a space to promote healthy dialogue and discourse on policy."
C5 hopes to host similar events in the future to engage a variety of leaders and policy makers to foster open conversation and information exchange and support economic diversification and development. It plans to convene thought leaders and influencers including, government agencies and regulatory bodies.
This event was planned to coincide with the Bahrain Global Entrepreneurship Week's activities organized by Tamkeen from 13th to 20th November. The initiative, which runs in parallel with international events, aims to enhance the entrepreneurial spirit and inspire innovation across all business sectors in line with the Kingdom’s 2030 vision. Global Entrepreneurship Week is organized by Global Entrepreneurship Network and powered by the Ewing Marion Kauffman Foundation.
 C5 will launch it’s fourth program in Feb 2018 and will be the first Fintech focused acceleration program in Bahrain. The program is aligned with the governments ambitions to develop Bahrain into a regional Fintech Hub. The Fintech start-ups will have access to specialised mentoring by financial institutions, AWS Solution architects and support in entering the CBB Regulatory FinTech Sandbox to name a few benefits.  Applications for C5’s fourth intake are now open. For more information or to apply, please visit http://www.c5cloud10.com/apply-program.php
 C5 Accelerate is a London, Washington D.C., and Bahrain based technology investment firm. Its mission is to accelerate best-of-breed start-ups to meet the growth opportunity being created by the geographic expansion of AWS, the world’s leading cloud computing platform.

The Minister of Industry, Commerce and Tourism Mr. Zayed R. Alzayani received outgoing Turkish Ambassador to the Kingdom Mrs. Hatun Demirer.

On this occasion, the Minister expressed his appreciation efforts made by the Ambassador during his mission, praising all the contributions made by the Embassy in promoting economic cooperation between the Kingdom of Bahrain and Turkey to develop of cooperation between them at various levels.

Under the patronage of H.E. the Minister of Industry, Commerce and Tourism Mr. Zayed R. Alzayani, Ferrari and Maserati Services Exhibition was opened, where the Minister praised these initiatives which reflect to revive trade movement in the Kingdom of Bahrain.

During the opening ceremony, the Minister of Industry stressed that the growth of the national economy and the prosperity movement of commercial and investment activity in the country translate the policies and strategies of the government related to this vital sector. He added that the Government of Bahrain encourages all initiatives aimed to push the national economy and employing more manpower.