Industry Minister chairs SMEs Development Board meeting

Manama, July 2 (BNA): The Minister of Industry, Commerce and Tourism Mr. Zayed R. Alzayani chaired the 4th meeting of the Small and Medium Enterprises (SMEs) Development Board which was held today at the Ministry's premises. At the beginning of the meeting, the Minister hailed the Board’s achievements in the first year of its establishment under the directives of His Royal Highness Prince Salman Bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander, First Deputy Prime Minister and Chairman of the Economic Development Board. The minister also expressed his hope that the Board will continue its role as a platform that provides an integrated visions and solutions to develop SMEs through the initiatives launched to achieve tangible results. During the meeting, SMEs Development Directorate at the Ministry of Industry, Commerce and Tourism presented the latest updates of Strategic initiatives of the Board consisting 17 initiatives that falls under five themes: Access to Finance, Access to Market, Streamline Business Environment, Foster Skill Development and Fostering Innovation. They also discussed the updates of a number of important projects, such as the government procurement program and the implementation mechanism of the Cabinet decision to allocate 20% of total government spend to the purchase and government tenders for small and medium enterprises. In addition, they reviewed establishment of SMEs Database, Export Development Center and its operational plan, as well as the strategic initiatives launched by the board such as secured transactions law, updates on organization of the Global Entrepreneurship Congress GEC 2019.