Tamkeen supports 65,817 enterprises till date in Bahrain

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Staff Reporter

Fuelling Bahrain's entrepreneurial engine, Tamkeen (Labour Fund) has supported 65,817 enterprises to date, including 19,382 startups.

The organisation has launched several initiatives for Bahraini individuals and businesses across various fields, including financing, training, and mentoring.

In line with the objectives of Bahrain Economic Vision 2030 and alongside the principles of sustainability and competitiveness, Tamkeen contributes towards the development and growth of the national economy, by strengthening the private sector and paving the way for Bahrain’s ongoing diversification towards a knowledge-based, globally competitive, and sustainable economy.

Furthermore, Tamkeen will play a vital role in driving the objectives of the national economic recovery plan, focusing on the pillars of strengthening high potential sectors and the training and employment of Bahraini nationals.

Tamkeen has two primary objectives: to foster the development and growth of the private sector and to empower the national workforce to become employees of choice.

To achieve these objectives, Tamkeen’s strategy focuses on productivity, dynamism, diversifying offerings, accelerating delivery, and sustaining impact.

The success of Tamkeen is reflected in the success of ventures it has supported.

Sami Al Abbasi, co-founder and managing director of Bahrain Polyforms, a leading provider of capping and bottling solutions in the market, says, “We started and launched our business in 2017 intending to cater to the increasing local and regional demand for high-quality caps, closures, and PET preforms.

We utilise state-of-the-art machinery and a newly developed compression moulding manufacturing process to provide the best capping and bottling solutions to the Mineral Water and Juice Filling industry.”

Bahrain Polyforms focused on a regional expansion plan to export and venture into new markets while increasing their productivity utilizing machinery and equipment support from Tamkeen’s business development programme.

Another beneficiary of Tamkeen’s programmes, Amal Al Majed, the founder of Amal Al Majed Jewelry, says it was the opportunity to enrol in several professional training programmes that made it possible to turn her inspirations into actual designs and, eventually, her signature brand line.

“We are proud to have witnessed our transformation from an online shop to an actual store located in Seef Mall.

I owe this achievement to our underlying commitment and dedication to being consistent with the quality of our products.

This is the success factor of our brand and its presence in the market.”

To encourage even more remarkable success among the private sector and ensure that Tamkeen’s programmes align with customers’ objectives and needs, Tamkeen hosts an annual Consultation Forum to collect feedback from various stakeholders, which allows Tamkeen to address the opportunities and challenges faced by the private sector.

This year’s Forum was held virtually to ensure effective and direct communication with partners and customers.

Additionally, Tamkeen hosted a series of meetings in the lead-up to the Forum with several of its partners in the private sector across multiple industries to further communicate with its partners.

Tamkeen introduced a series of dynamic new programmes at this year’s Forum.

These programmes were designed to ensure that customers achieve their maximum growth potential, enabling enterprises and national talents to reach their potential and leading to a multiplier effect across the economy, furthering diversification efforts.

The new programmes will gradually open to the public starting March this year through Tamkeen’s new online portal.

The portal is user-friendly and offers an enhanced application process. Clients can apply independently and receive updates and feedback throughout the application process leading to faster approvals and a more streamlined experience for all parties involved.

In addition to the new portal, Tamkeen introduced a new website during the Forum where customers can learn more about the programmes that Tamkeen is offering.

Husain Mohamed Rajab, Chief Executive of Tamkeen, said: “Our strategic approach is objectively focused and impact-driven to ensure fulfilling our goal of achieving sustainable economic growth for Bahrain.

With that approach, we designed and launched new programmes that will enable committed enterprises and national talents to reach their maximum potential, leading to a multiplier effect across the economy and supporting further diversification in our non-oil sectors.

In alignment with national priorities, we are focusing on high-potential sectors that are dynamic and are underpinned by productivity, have export potential, drive diversification, and contribute to sustainable quality employment.”

Tamkeen aims to drive economic growth through attracting direct investment, facilitating job creation, diversifying income streams, encouraging productivity, and developing the local workforce while also considering local and global market needs.