2023-08-16 04:13:58
Manama: As part of the economic recovery plan, the ‘Takamul’ local value program will be implemented in the industrial sector of the country. This was announced by Minister of Commerce and Industry Abdullah Adil Fakhru in a press conference held at the office of the Ministry of Commerce and Industry at Harbor Gate.
Bahrain Chamber Chairman Samir Naas was present. The project will be implemented with the objectives of increasing exports and creating employment opportunities for citizens.
The new industrial policy aims to strengthen national industries, ensure a favorable environment for investors, and increase the employment opportunities of natives. The minister said that ‘Takamul’ would be beneficial in promoting indigenous companies and increasing their contribution to the national economy. Industries that meet the specified criteria and percentage will be granted 10 percent preferential certificate in government contract auctions.
They are more likely to win contracts than non-certified companies. The minister said Takamul will help boost local industries and attract foreign investment. Bahrain Chamber Chairman Samir Naas pointed out that the Value Added Certificate is an incentive for Bahrain’s industrial sector to increase its contribution to GDP. He noted that the initiative will create employment opportunities for citizens and improve business opportunities for Bahraini companies.
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