Awal Gulf gets Bahrain labour fund backing
Manama, November 5, 2012
Awal Gulf Manufacturing, a leading refrigeration and AC equipment manufacturer, has received technical back up from Tamkeen, Bahrain’s labour fund, through an enterprise support scheme.
Tamkeen’s Large Enterprise Support Scheme, which is specifically designed to back up large Bahrain-based enterprises, has been recently introduced by Tamkeen to provide co-financing support to large Bahraini business enterprises to help them acquire the latest industrial machinery.
Under this scheme, Tamkeen’s contribution will be 50 per cent, up to a maximum of BD150,000 ($386,110), of the cost of the machinery and related costs.
Enterprises seeking to benefit from the scheme must have an active Commercial Registration Certificate, earn annual revenue equal to or more than BD5 million and must be able to provide audited financial statements.
Furthermore, the enterprise should commit to hire minimum two Bahrainis or increase the wage of at least two existing Bahraini employees by at least BD50 per month. Applications will be evaluated and approved by Tamkeen’s Enterprise Development Support team.
Tamkeen VP for Enterprise and Human Capital Development Dr Ahmed Abdulghani Al-Shaikh said business firms have received another incentive from Tamkeen with the introduction of “The Large Enterprise Support Scheme”.
“The scheme is a Tamkeen’s strategic initiative that has been developed specifically to support large business Enterprises across all sectors to uplift their capabilities and boost performance,” he added.
Awal Gulf Manufacturing will use Tamkeen’s support to purchase machinery and equipment to increase production capacity and enhance on-site industrial performance, a statement said.
Adel Matter, Awal Gulf managing director said: “We are very pleased to be the first company to join this initiative which, we believe will bring new growth opportunities for the company and for Bahrainis. Through Tamkeen’s large Enterprise Support Scheme, large enterprises can now keep abreast of the latest trends of industry evolution.” – TradeArabia News Service
More Industry, Logistics & Shipping Stories
- DHL Express boosts Mideast fleet
- DNV to re-certifiy Drydocks World services
- Amphibious boats make global debut in Dubai
- Qatar sets up mixed business incubator
- Non-oil sectors ‘biggest contributors to UAE economy’
- Alba educates customers on best practices
- Spinneys to set up distribution centre at Kizad
- Maritime courses draw more trainees
- Dow to showcase at Dubai coatings expo
- UAE aluminium sector backs Syria refugees
- Asry in big vessel repair milestone
- Flare, Jordan form parent company ‘Aereon’
- Drydocks delivers second MCV for US
- ASIS launches amphibious leisure boat
- Taskforce sought to develop Saudi downstream sector
- DP World launches $200m India project
- RAK 'exploring' ceramics unit stake sale
- Mideast carriers top global air freight growth
- DMCA launches maritime solution apps
- Saudi plans oil-to-chemicals plant at Yanbu
- Sabic gets four bids for JV with Mitsubishi Rayon
- Pentair, IDC launch industrial services JV
- Major maritime conference to be held in Dubai
- GPIC wins key IFA certification
- Gulf rules must aid e-commerce: Aramex
- Gulftainer expands 2013 ops by 50pc
- DMCA to take part in Dubai boat show
- Al Namal to launch eco-friendly chillers
- Abu Dhabi city ports to receive facelift
- Kuwait Styrene posts $180m net profit