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MANAMA: Bahrain’s labour market and economic activities are witnessing changes that require regular review and a comprehensive assessment of legislation regulating the financial and business sector, said Shura Council first deputy chairman Jamal Fakhro.
Consultations between the legislature and authorities concerned with the commercial sector help develop and modernise enforceable laws to cope with constant changes and address challenges resulting from new economic conditions, locally or globally, he said.
He was speaking as representatives of Parliament and Bahrain Chamber of Commerce and Industry (BCCI) held a virtual meeting to review a study prepared by the chamber on labour market challenges and the impact of implementing the flexi-work permit scheme on the market. Recommendations to reform the labour market and increase Bahraini labour force were also highlighted.
Parliament first deputy chairman Abdulnabi Salman said the negative effects of implementing the flexi-work permit system were particularly felt by the Bahraini business owner due to losses incurred besides other effects on the national economy as a whole, namely rising unemployment and increase in remittances transferred abroad which leads to a drop in liquidity.
BCCI chairman Sameer Nass said the chamber has realised the serious and direct consequences of the flexi-work permit on the performance of the private sector and the national economy in general, so it prepared such an exhaustive study on challenges facing its members in the labour market.
He underscored the importance of maintaining the national dialogue to reach a consensus that serves all parties.
Results and recommendations of the study confirm the necessity to come up with a radical solution to the illegal migrant workers and regulate the labour market in the short as well as in the long run.
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