Bahrain’s long-running support for small and medium-sized enterprises (SMEs) is set to receive international recognition this week as the kingdom’s model for celebrating the UN World MSME Day is showcased for the first time overseas at a major forum in the Bosnian capital Sarajevo.
The two-day event, to be held tomorrow and Tuesday, is being organised by the Bahrain SMEs Society in partnership with the United International Small and Medium Organisations (UNISMO) and the Chamber of Economy of the Federation of Bosnia and Herzegovina.
Bahrain SMEs Society chairman and UNISMO chairman Dr Abdulhassan Al Dairi, who is also a member of the Capital Trustees Board, described the event as a milestone in taking Bahrain’s experience from a national initiative to an international platform.
He said Sarajevo had been chosen as the first destination to export Bahrain’s model of celebrating World MSME Day, which is officially observed by the United Nations every year on June 27.
“The selection of Sarajevo marks the beginning of sharing Bahrain’s successful experience with the world,” said Dr Al Dairi.
He noted that Bahrain had started celebrating SMEs long before the United Nations adopted the annual observance, with the Bahrain SMEs Society launching the first Bahrain SME Day Forum in 2010 in co-operation with the Industry and Commerce Ministry and other partners.
According to Dr Al Dairi, the society has continued organising the annual event despite regional and global economic challenges, helping to maintain momentum behind support for entrepreneurs and small businesses.
He credited the kingdom’s success to the continuous backing of the leadership, expressing gratitude to His Majesty King Hamad and to His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, whom he described as a leading supporter of Bahrain’s SME and entrepreneurship sector.
Dr Al Dairi also praised government ministries, agencies and private sector organisations for their sustained support, saying it had enabled the initiative to grow into a recognised international movement.
He highlighted Bahrain’s role in encouraging the United Nations to establish World MSME Day. Following discussions initiated by the Bahrain SMEs Society with the UN office in Bahrain in 2016, the United Nations General Assembly adopted June 27 as the official World MSME Day in 2017.
He stressed the importance of SMEs, noting that they account for more than 90 per cent of businesses worldwide while driving innovation, supporting local industries, creating employment opportunities and strengthening national economies.
The Sarajevo forum will be held under the theme “Small and Medium Enterprises in a Green Digital Economy and Global Supply Chain Transformations.”
The programme includes an opening ceremony, five specialist sessions and the launch of a new book written by a Nigerian member of the UNISMO board.
Topics will focus on the impact of geopolitical tensions, conflicts, digital transformation, sustainability and continuing disruptions to global supply chains on SMEs.
Chamber of Economy of Bosnia and Herzegovina president and UNISMO Bosnia chapter chairman Mirsad Jasarspahic welcomed the partnership with Bahrain and UNISMO, describing the forum as an important opportunity to develop international solutions for one of the world’s most important economic sectors.
Recommendations from the discussions will be presented to relevant international bodies at the conclusion of the forum.
Dr Al Dairi thanked Chamber of Economy of Bosnia and Herzegovina for hosting the event and expressed hope that its recommendations would help strengthen SMEs, particularly micro-enterprises, and provide practical solutions to the challenges facing businesses amid continuing global economic uncertainty.
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