Heba Mohsen
During the press conference held in the Bahrain Chamber of Commerce and Industry, it shed light on the achievements of the initiatives launched by a trading bloc for three years. According to the officials ’statements, in response to a question for« Al -Watan », the rate of investigation of these initiatives reached 76% of the total of 22 initiatives. These initiatives come within the framework of Bahrain Vision 2030, and aims to achieve sustainable development and diversify income sources, by focusing on the support of the private sector and enhancing the business environment. Initiatives included addressing the challenges facing companies, stimulating investment, and increasing competitiveness.
Al -Watan obtained an official report issued by the Chamber showing the achievements carried out by the Chamber during the three years. In it, we review the main achievements, the difficulties that were faced, and the lessons learned, as well as the positive impact of these initiatives on the national economy, the private sector and society.
Activating the mechanisms of bankruptcy law
The Chamber activated the mechanisms of implementing the reorganization and bankruptcy law, in cooperation with the ministries of justice and trade; To support the private sector to survive and continue, and reduce the risks of legal and penal consequences. The procedures included meeting with representatives of banks and specialists to explore their opinions and analyze them, holding an awareness workshop for the private sector and the Association of Lawyers. The Chamber agreed with the Ministry of Justice to establish a comprehensive laboratory for the law of implementation, pleadings and bankruptcy and launching the distinguished support path project.
Enhancing the status of investors
The room put its views on “localization of products and imports”. A Gulf comparative study was conducted on the efforts of the Gulf states regarding the localization of products and the replacement of imports, and a study that included a package of proposals to localize Bahraini gold and work to highlight local industries and organize seminars and programs to educate the industrial sector of the importance of the digital transformation of the fourth industrial revolution and investment in green and renewable energy as well as a proposal for a law on the inclusion of profits of companies that the state contributes within the public budget.
The Chamber cooperated with insurance companies and the Supreme Health Council to discuss the suitability of the Health Insurance Law and its executive and procedural applications.
Certification of the Dispute Center
The Dispute Settlement Center was officially approved and opened in the Bahrain Chamber in the name of the mediation center and included it within the paths of the distinguished support path project.
Flexible
The work was canceled in the system of flexible declaration, the creation of standards for specialized work for workers, understanding on a unified position between the Bahrain Chamber and the legislative authority in the presence of the President of the Chamber and the President of the two councils, his submission to the government, and the ongoing meetings between the Chamber and the labor market regulation authority for treatments.
Credit rating
Support the launch of the credit rating project for small and medium companies with the concerned authorities.
Protection from loan entitlements
Urging local banks to postpone the payment of monthly and real estate loans for citizens for a period of 3 months without calculating the delay benefits; Which contributes to the revitalization of purchasing power, extending the period of payment of borrowing and financing for small and medium enterprises and commercial companies “personal loans”, reschedule loans to the affected companies in accordance with unified standards, and the return of loans to the affected companies in accordance with unified standards.
Food security
Payment to pave the ground for the establishment of a food security body in Bahrain, prepare an awareness guide on global certificates required to export food products «halal, ISO», and develop a clear long -term strategy, provided that its board of directors includes expert competencies from the private sector, and the goal is to raise the food production process to achieve food security in livestock, fish and agricultural wealth, and refer the Chamber’s views on the government food security strategy For the Prime Minister’s Office, Minister of Industry and Trade, Minister of Municipalities and Agriculture.
Family companies
The Chamber has a cooperation agreement to implement specialized programs for family companies with the Bahrain Institute for Banking Studies BIBF for the work of the Family Companies Academy. In addition to the launch of the Rational Code for Family Companies Governance, and the guideline of family companies ’governance. The signing of a memorandum of cooperation with the Council of Gulf Family Companies in the United Arab Emirates.
A family companies database has been prepared, which will include local institutions and companies that are more than 25 years old, with contributions to local product, employment employment, and imprints on commercial identity.
The future of education
Working with the Supreme Council for Training and Education to develop the founding curricula in the language of programming and technology, developing public and higher education and vocational training in institutes to meet the market requirements, to be included within the educational and training curricula, and to build unconventional partnerships that serve both the market need, and to accommodate graduates after developing their educational level and vocational training.
The Chamber’s views were presented to the education strategy for the Supreme Council for Education and Training, and five recommendations issued by the Chamber were approved in the approved education strategy.
The Chamber is currently working on the education strategy – the proposal for the national platform for higher education.
The construction and industries sectors
Re -evaluating the new construction requirements, and the initiative to prepare a draft law on the establishment of the “Contracting Sector Regulatory Authority”, to present it to the relevant authorities, review government contracts for construction projects and provide development proposals on them.
Tourist strategy
The Chamber, through the Strategic Thinking Group and the Tourism Committee in cooperation in several areas regarding the tourism strategy of the Kingdom of Bahrain, through continuous cooperation and multiple meetings between the Chamber and the Bahrain Tourism and Exhibitions Authority, and the formation of a joint working team. The Chamber’s efforts also extended with the Minister of Tourism and held more than one meeting regarding the Chamber’s comments on the tourism strategy and the continuous cooperation between the two sides.
A tourism strategic vision that focuses on identity and the competitive tourism advantage of Bahrain until 2030, is able to market its projects on the local and regional private sector partners, which enables the government to increase the percentage of this sector in the public budget in a growing and stable manner, and guarantees rewarding returns on investments, and it was also agreed with the Tourism Authority through multiple meetings on several projects.
Development of technological services
Organizing seminars and programs to educate the industrial sector about the importance of the digital transformation of the fourth industrial revolution and investment in green and renewable energy, coordination and cooperation with banks and investment companies on diversifying investment and financing options for Bahraini technology companies, and providing a number of initiatives that support the development of Bahraini technology companies, and do their presence in the local market.
Coordination has also been made with business accelerators to push towards launching initiatives that support the expansion of small and medium -sized technology companies and their accession to international markets in coordination with the relevant authorities, and the establishment of a national digital platform portal that achieves the following: facilitating the conformity of businesses for foreign investors, providing details related to local business opportunities in various economic sectors, providing knowledge about available tenders.
Gulf complementary investment, the customs procedures and the adoption of a unified formula between the countries of the Gulf Cooperation Council to create a stimulating environment for export and economic integration, prepare the report of the Kingdom of Bahrain for the profession matrix and activities related to the joint Gulf market paths, and to follow up the complaints received in the unified Gulf window related to the joint Gulf market paths.
Among the achievements related to the work of the joint economic team between the Gulf chambers and formed from the Federation of Gulf Chambers, proposals: the Gulf Observatory, “focusing on the role of entrepreneurs in supporting the national economy” for the Gulf states, and raising the issue of “anticipating the future of industry in the Gulf states” and enhancing cooperation with the countries of the East in the field of industry, and following up and implementing the recommendations of the meetings of heads of rooms and the ministers of industry and trade for Gulf countries.
Inclusion and acquisitions
Improving capital markets through more public subscriptions “primary public subscriptions”, and drawing policies that encourage integration and acquisitions between companies and institutions & acuisitions.
Economic economic structure
Working to educate the business sector about the importance of environmental and social practices, corporate governance and fraud risk, pressure towards supporting the availability of medicines in the Kingdom of Bahrain and ensuring that they are not enforced, providing a detailed survey on highly efficient health cadres deficiencies in a number of vital specialties, and working to set controls for medical devices fees and spare parts and ensure their quality.
The study was completed in support of the establishment of a motivational infrastructure for investment in the health sector, and to communicate with the authorities concerned with a request to develop and enhance cooperation between the National Authority for Regulating Professions and National Health Services and the private sector regarding the issuance of decisions regulating the health sector, and the proposal of mechanisms that push towards encouraging partnerships between small and medium enterprises with large factories, and proposals for government agencies that support the acceleration of procedures for issuing building permits, And proposals for the concerned authorities support accelerating the obtaining of security approvals and real estate registration procedures.
An electronic page has also been established linking all electronic platforms for government agencies with the aim of facilitating their entry through the Chamber’s website, reviewing government contracts for construction projects and submitting development proposals on them, and providing proposals that support the development and improvement of services and procedures related to the transportation and logistical services sector.
Competitiveness of small institutions
Organizing a number of educational programs and events that support raising the level of competitiveness in the sector, and providing proposals that support the payment of electronic commerce to small and medium enterprises through air freight, and to provide a number of proposals that support the granting of private educational and training institutions more independence, field visits to the commercial and retail market sectors to know the challenges and provide the necessary support and represent the sector in local forums.
The program of registration and creation of a protected database was also launched for small Bahraini merchants, supporting the local markets in entering global platforms, requesting that a time limit ranging from 60-90 days to pay customs fees on imports, increasing the activities of the activities under “small business” to include for example men and women’s salons, and the launch of a systematic series of educational programs on commercial cover -up “leased records”.
Retail and logistical sector
A working group has been formed to follow up with the General Authority of King Fahd Bridge regarding the follow -up of issues related to export and import, submitting a proposal to create a joint Bahraini Saudi company for sand, cement and Konsari, and the recommendation to send a letter from the Business Council to facilitate the customs procedures for transporting goods between the two countries and consider the mechanism of benefiting from exemptions in a way that contributes to overcoming the difficulties facing the export process, and not setting restrictions on the product Bahraini in the Kingdom of Saudi Arabia and the equality of the Bahraini investor in the Saudi investor and their treatment in the same way. Facilitating customs procedures. Create a dedicated marine berth. Directing new investments in specialized health services “unavailable specializations”.
Quality financing initiatives
Rest.
A fund was also established by the Bahrain Development Bank to contribute to supporting the local emerging funds specialized in the Venture Capital, similar to the Oasis Fund and the concentration of investment in the local market, and the establishment of financial funds to support small and medium -sized companies in cooperation between empowerment and property, commercial banks and commercial families.
