Mubasher: A new law to organise the business of SMEs is expected to be issued this year, chairman of Bahrain Small and Medium Enterprises Development Society (Bahrain SMEs Society) Abdul Hasan Al Dairi said, as reported by Al Watan Bahraini newspaper.
The law has been discussed with the Ministry of Industry, Commerce, and Tourism in a meeting headed by the minister Zayed Al Zayani, Al Dairi added.
The new law aims at organising the business of SMEs in the kingdom of Bahrain, as well as keeping the pace with the recent regional and global developments in this field, he highlighted.
The small-sized enterprises represent 99% of total working sectors, Al Dairi said, pointing out that the success of these enterprises is a key driver for the national economy’s success.
He also noted that studies have shown that most of the SMEs need banking facilities and support in their financial management.
Moreover, the SMEs in the kingdom shall consider coordination with major institutions and opening new domestic markets or expansion regionally and globally, he added.
He also highlighted the recently launched exports centre that will turn the community from consumers to producers and design and innovate new concepts, as well as export financial services and real estate products.
This will bolster exporting and promoting the local products in the foreign markets and boost the abilities of SMEs, Al-Dairi indicated.
