BAHRAIN’S pioneering support for small and medium-sized enterprises (SMEs) has earned international acclaim after the kingdom’s model for celebrating the UN World MSME Day was showcased abroad for the first time at the 14th World MSME Day Conference in Sarajevo, Bosnia and Herzegovina.
The two-day conference, organised by the Bahrain SMEs Society in partnership with the United International Small and Medium Organisations (UNISMO), the Chamber of Economy of the Federation of Bosnia and Herzegovina, the International University of Sarajevo and other partners, concluded yesterday with a series of recommendations aimed at strengthening SMEs worldwide.
Delegates from across the globe praised Bahrain’s long-standing commitment to entrepreneurs, describing the kingdom’s experience as a model worthy of international adoption. Participants also welcomed the transformation of Bahrain’s national initiative into a global platform, commending the Bahrain SMEs Society and UNISMO for leading the effort.
Bahrain SMEs Society chairman, UNISMO chairman and Capital Trustees Board member Dr Abdulhassan Al Dairy said the successful conference highlighted the urgent need for SMEs to embrace technology and prepare for a rapidly changing global economy.
“The conference reaffirmed the importance of accelerating digital transformation by adopting artificial intelligence, e-commerce and advanced technologies, while strengthening cybersecurity and expanding access to sustainable and green financing for SMEs,” he said.
Dr Al Dairy said delegates also stressed the importance of building stronger partnerships between governments, the private sector, academic institutions and international organisations to encourage innovation and entrepreneurship.
“The recommendations focused on empowering young people and women, strengthening innovation and enabling SMEs to expand into international markets through closer co-operation and knowledge-sharing,” he added.
He noted that Bahrain’s experience attracted widespread admiration, particularly as the kingdom had begun celebrating SMEs years before the United Nations officially recognised World MSME Day in 2017. Bahrain also played a leading role in advocating for the UN’s adoption of June 27 as the annual observance.
Looking ahead, Dr Al Dairy warned that Europe is expected to face a significant shortage of skilled professionals over the coming decades, making workforce development an international priority.
“Forecasts indicate a sharp shortage of professional and skilled workers across Europe in the coming decades, similar to what is already being experienced in Germany. Governments must prepare now by modernising education systems and equipping young people with the skills required for the jobs of the future,” he said.
The conference concluded by adopting seven key recommendations, including accelerating digital transformation, strengthening cybersecurity, expanding green and sustainable financing, enhancing collaboration between governments, businesses and universities, improving the resilience of global supply chains, empowering entrepreneurs, women and young people, and preparing future workforces to meet evolving labour market demands.
Held under the theme ‘Small and Medium Enterprises in a Green Digital Economy and Global Supply Chain Transformations’, the conference featured specialist sessions examining artificial intelligence, sustainability, geopolitical challenges and disruptions to global supply chains.
Organisers said the recommendations will now be submitted to relevant international organisations, with the aim of shaping future policies that support SMEs, which account for more than 90 per cent of businesses worldwide and remain the backbone of national economies.
Mohammed@gdnmedia.bh
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