The government is committed to protecting the national economy and Bahraini jobs by supporting local companies and factories facing financial difficulties, a top official has said.
Parliament and Shura Council Affairs Minister Ghanim Al Buainain highlighted that Bahraini institutions, commercial establishments, and factories receive assistance through the Labour Fund (Tamkeen), provided they meet eligibility conditions.
Support ranges from financial grants for machinery and equipment to financing services in collaboration with local banks.
The fund also offers training opportunities, particularly in the industrial sector, which is considered a priority area for economic growth and employment of Bahraini citizens.
“Tamkeen continues to assist struggling Bahraini companies, especially those employing citizens, to help them restore business activity and preserve jobs,” Mr Al Buainain added.
He cited the government’s swift response during the Covid-19 pandemic, when a BD63 million Business Continuity Support Programme helped more than 22,000 establishments maintain liquidity and operations. He noted that these efforts were integrated into a wider national economic recovery strategy, which continues with programmes supporting business growth, employment, and career advancement.
He also emphasised government’s co-operation with the CBB, which is ready to work with creditor banks to study difficulties facing Bahraini companies and provide viable solutions.
“We are examining updates to the Reorganisation and Bankruptcy Law in co-operation with the CBB and commercial banks to ensure companies at risk can restructure effectively and preserve jobs,” Mr Al Buainain said.
“Our objective is to ensure that Bahraini businesses can overcome challenges and continue contributing to economic growth while securing employment for our citizens,” he added.
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