Tamkeen’s strategy aims to promote private sector, says its chief executive Maha Mofeez
Tamkeen has played a pivotal role in the nation’s economic development, emphasised its chief executive, who endorsed its successful strategy in enhancing the private sector’s role as the engine of Bahrain’s economic growth.
Maha Mofeez expressed pride in these achievements and reaffirmed Tamkeen’s dedication to continuing this trajectory with the introduction of new strategies and programmes.
Ms. Mofeez was speaking to Bahrain This Week on the sidelines of Manama Entrepreneurs Week (MEW) 2024 at the Gulf Convention Centre. She cited the organisation’s efforts as having led to the support of over 142,000 Bahrainis and more than 77,000 enterprises, showcasing a significant impact on the country’s entrepreneurial landscape and private sector expansion.
“I think we are heading steady (in terms of nurturing favourable entrepreneurial milieu), Tamkeen in particular—since it was founded in 2006, its major focus has been to support entrepreneurs and specifically the private sector to be the engine of economic growth,” said Ms Mofeez.
“Looking back, since inception, we have supported more than 142,000 Bahrainis who have benefited from Tamkeen programmes and more than 77,000 enterprises have benefited as start-ups or are expanding their existing businesses. We will continue this, as we are embarking on a new strategy and new programmes. We launched in November a new programme where we’re aiming for 50,000 Bahrainis to benefit from our programmes. We are in that process, working very closely with the private sector to make sure the successful delivery of our programmes.”
Reflecting on Bahrain’s progress over the past decade, Ms Mofeez noted the significant increase in the number of Bahrainis employed in the private sector—a 50 per cent rise since Tamkeen’s establishment. This, along with the doubling of commercial registrations (CRs), serves as a testament to Bahrain’s positive direction in supporting businesses and the overall economy.
“If we look at Bahrain 10 or 18 years ago, when Tamkeen was created, from that point in time, the number of CRs has almost doubled,” she said.
“The number of Bahrainis working in the private sector has increased by 50pc. So these are all signals to show that Bahrain is in the right direction in terms of supporting businesses, the private sector, and the economy.”
Ms Mofeez also reiterated Industry and Commerce Minister Abdulla Adel Fakhro’s statement at MEW 2024 that Bahrain was a safe and secure haven for investment, attributing this to the robust legal framework and the collaborative efforts of Team Bahrain in working closely with the private sector. The minister was a panelist alongside Sustainable Development Minister and Economic Development Board chief executive Noor Al Khulaif at the opening session of MEW 2024.
“Bahrain is a definitely safe and secure haven for investors, with different laws that we have in place and with Team Bahrain being very closely working with the private sector,” said Ms Mofeez.
“We are working closely with them, and we design things toward their success.”
The ninth edition of MEW 2024, held in collaboration with the Capital Governorate, gathered a large number of entrepreneurs and associates who, over the course of five days, engaged in panels, seminars, and workshops showcasing regional and international speakers.