The Industry and Commerce Ministry has announced that registration is now open for Saudi establishments wishing to participate in the Local Value
Program in Industry (Takamul).
The programme, which is a key initiative of the kingdom’s Industrial Sector Strategy (2022-26), aims to enhance the ‘In-Country Value’ (ICV) of industrial products and improve supply chain efficiency.
Industry and Commerce Minister Abdulla bin Adel Fakhro emphasised the importance of this initiative in strengthening the long and deep-rooted strategic partnerships between Bahrain and Saudi Arabia, highlighting the strong support from both governments and their leaderships to the different joint programmes and initiatives.
He noted that this positive development emanates from the outcomes of the third meeting of the Saudi-Bahraini Co-ordination Council, chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, and Prince Mohamed bin Salman bin Abdulaziz Al Saud, the Crown Prince and Prime Minister of Saudi Arabia.
The minister explained that the initiative reflects the commitment to reciprocity for products manufactured in both countries, where Bahraini products are treated as Saudi products in local government procurement in Saudi Arabia, and by participating in the Takamul programme, Saudi establishments can work towards achieving a 75 per cent ICV, which qualifies them for a certificate granting a 10pc preference in future government tenders in Bahrain.
Saudi establishments wishing to register for the programme may apply through Bahrain’s Industry and Commerce Ministry website (https://service.moic.gov.bh/takamul).
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