Tamkeen launches new trading initiative
Manama, February 12, 2013
Bahrain's labour fund Tamkeen has signed a deal with the Kingdom's Southern Governorate to launch “Al Basta”, an initiative aimed at spurring trade activity through the establishment of a dedicated market.
The modern and fully-equipped market will serve as an important destination for merchants and residents in the Southern Governorate community in particular, and the Kingdom in general, said a statement from Tamkeen.
The market will be located next to Riffa Views. Over 144 enterprises are expected to benefit from the project over its three-month duration which extends from the end of February to May 2013.
The signing was attended by Tamkeen chief executive Mahmood Hashem Al-Kooheji and Sheikh Abduallah bin Rashid Al Khalifa, Governor of the Southern Governorate, in addition to senior officials from both sides.
The novel project targets startups and micro-enterprises as well as farmers in the Southern Governorate, it added.
Tamkeen said it will contribute BD60,000 ($158,245) to the project's total budget of BD100,000. Its support in this leading project is part of its efforts to develop enterprises in the private sector to make it the key engine of economic growth.
Commenting on the launch, Al Kooheji said: "We are pleased to launch this leading and unique project in co-operation with the Southern Governorate to support private sector enterprises and boost their contribution to the national economy."
"The project embodies the continued fruitful collaboration between Tamkeen and its stakeholders to create innovative programmes which address market needs and enhance the capabilities of Bahrainis and Bahraini enterprises," he added.
Sheikh Abdullah lauded Tamkeen’s support of this key project which is in line with the one initiated by Princess Sabeeka bint Ibrahim Al Khalifa to develop the agricultural sector.
He also stressed the Southern Governorate’s continuous efforts to enhance the income of families and develop the capabilities of citizens of the governorate.
More than 66,000 Bahraini citizens and enterprises have benefited from Tamkeen's various support programmes to date, and the number is expected to rise to 100,000.-TradeArabia News Service