Industry and Commerce Minister Abdullah bin Adel Fakhro chaired the sixteenth meeting of the SMEs Development Council, which was held virtually.
The minister praised the tangible cooperation between the members, and stressed that the coming stages require more solidarity to overcome challenges and successfully complete initiatives within the specified timetable to benefit the SMEs sector and contribute to its development and prosperity.
SMEs Development Directorate Director Shaikha Al-Fadhel briefed the meeting on the national performance indicators of the SMEs Development Council.
The meeting reviewed the values of performance indicators of the completed initiatives and their target percentages in the next stage.
It also reviewed developments of the SME database project, which aims to collect data on growth of enterprises, as the number of institutions that achieved growth from March 2022 to March 2023 reached 4,301 institutions and companies, with a majority of micro-enterprises.
Requirements for the second phase of the project were also outlined to ensure that the operational conditions of these institutions are followed up at a deeper level by linking the information available to members to form an integrated database to rely upon for the improvement of this sector’s performance.
The team consisting of representatives of concerned authorities evaluated all 43 initiatives and programs and identified challenges to ensure the desired workflow in a step aimed at achieving the best results and outputs for the years 2022-2026.
Source: Bahrain News Agency