Minister of Industry, Commerce and Tourism outlines the latest developments in trade, industry, business and services at BBBF meeting

0
183
Phil Weymouth, Streetlight Media

Trade, industry, business and services with the UK were the focus of discussion at the Bahrain British Business Forum (BBBF) meeting yesterday. The Minister of Industry, Commerce and Tourism, H.E. Zayed Alzayani presented the keynote address at the event.

BBBF Chairman Khalid Al Zayani OBE, welcomed the guests of honour, H.E. Zayed Alzayani and H.E. Simon Martin CMG, the British Ambassador to Bahrain, to the gathering. More than 120 BBBF members and guests attended the event at The Gulf Hotel Convention Centre.

In his address, H.E. Zayed Alzayani highlighted the government’s efforts to offer major facilities for all businesses, especially for start-ups and new commercial businesses. For this purpose, the SMEs’ Development Board (SDB) was established in 2017 to nurture the entrepreneurial ecosystem and enable the development of SMEs’, consisting of the Ministry of Industry, Commerce & Tourism (MOICT), the Economic Development Board (EDB), Labour Fund – Tamkeen, Bahrain Development Bank (BDB) and the Bahrain Chamber of Commerce and Industry (BCCI).

H.E. the minister illustrated the five key strategic goals for the SMEs’ Development Board that involve access to finance, access to markets, streamline business environment, foster skills development and foster innovation.

Additionally, H.E. provided valuable insight on some implemented entrepreneurship policies such as the “Reorganization and Bankruptcy Law” which was promulgated on May 2018 as the first law in GCC to embed international insolvency procedures, as well as the “Bahrain Investment Market” launched in 2017 which is foreseen as an alternative equity market for growing business ventures in Bahrain and the MENA region. Also, “Export Bahrain” launched on November 2018, offers companies opportunities and solutions for globalisation. The solutions offered include professional certifications, financing and advisory solutions, workshops, and credit insurance; and launching the incubation and acceleration services and programs.

On behalf of the forum, BBBF Chairman Khalid Al Zayani OBE, expressed his appreciation and sincere thanks to H.E. Zayed Alzayani for his enlightening presentation.

The BBBF is a growing network of businessmen and women in Bahrain, which now has over 470 members. The forum aims to promote trade and investment between Bahrain and Britain by offering opportunities for networking and knowledge sharing between the two business communities. People interested in joining the forum and staying up to date with events can find out more at www.bbbf.org.