Abdullah Adel Fakhro, Minister of Industry and Commerce, announced the launch of the “Takamul” Local Value Program in Industry during a press conference held at the Bahrain Chamber of Commerce and Industry (BCCI)
Sameer Nass, Chairman of the BCCI, was present.
Fakhro emphasised the ministry’s commitment to achieving the objectives of the industrial sector strategy (2022-2026), which is part of the Economic Recovery Plan and is aimed at boosting the industrial sector’s contribution to the GDP and increasing exports, as well as creating job opportunities for citizens.
The Industrial Strategy (2022-2026) includes several aspects: strengthening national industries, investing in infrastructure, improving investor experience, directing Bahrainis’ careers, enhancing laws and legislation, as well as increasing the contribution of the industrial sector to GDP, increasing exports of national origin, and providing promising job opportunities to citizens.
The minister highlighted that the program will contribute to encouraging national companies and enhancing their contribution to the national economy.
The companies’ contributions will be measured and those who meet the criteria will be granted a preference in government procurement by 10%.
BCCI Chairman praised the initiative to launch “Takamul”, which is an opportunity for the local industrial sector to enhance and develop its contribution to the development of the national economy, noting that the added value certificate poses an incentive for the industrial sector in Bahrain to increase its contribution to GDP.
He emphasised that this strategic initiative creates job opportunities for citizens, as well as improving the business opportunities of Bahraini companies.
Source: Bahrain News Agency