The Ministry of Industry and Commerce estimates that Small and Medium Enterprises (SMEs) contribution to Bahrain Gross Domestic Product (GDP) is around 28% and has ambitions to grow those figures to 35% in the next three years.
This came during the 5th annual SMEs Day Forum which was launched under the patronage of Industry and Commerce Minister Zayed bin Rashid Alzayani under title of "The importance of Marketing and Export for the SMEs". The forum is organized by Origin in collaboration with Bahrain Small and Medium Society at the Gulf Hotel.
During the event the minister delivered a speech stating that "SMEs today form 99% of companies registered in Bahrain with a total committed capital of BD. 1.7 Billion (excluding individual companies). We know that SMEs employ 421,247 employees of which 52,918 are Bahrainis. The Ministry of Industry & Commerce estimates that SMEs contribution to Bahrain GDP is around 28% and has ambitions to grow those figures to 35% in the next three years".
The Minister added that "As a Ministry, we recognize the role of SMEs in the economy and will work continuously to support and grow the sector in the economy. Our efforts as a government in creating the supportive business environment, whether being as general as having an FTA with US or as having specific funding through Tamkeen initiatives or even as advanced as launching an export facilitation bureau in collaboration with BDB will never be an alternative to your drive and
ambition. The majority of the work and responsibility lies within you and your dreams, and we encourage you to start small but always think big. Let the world be your oyster and do not confine your ambitions to the small markets of Bahrain. The harder you push us the more we can service you and the greater the challenge the larger will be the result.
On this occasion, the minister expressed his appreciation to the team behind this initiative headed by Chairman of Bahrain SMEs Society, Dr. Abdulhassan AlDairi and Vice Chairman of Bahrain SMEs Society and Chairman of the Forum Mr. Abdulrahim Fakhro.
The Forum brings together a group of speakers, experts and entrepreneurs from Bahrain, Saudi Arabia, Kuwait, Lebanon, Turkey, Britain and others. Several worksheets shed light on the most important of marketing tools and strategies and the importance of the export of small and medium enterprises.
The main emphasis of the forum is to manage a positive culture and maintain a proper code of marketing ethics.