MPs plan law to exempt SMEs from paying contributions to chamber

TDT | Manama

Parliamentarians are considering a law to exempt SMEs from paying annual contributions to the BCCI.        

The proposal was submitted by MP Hamad Al Kooheji and supported by MP Zainab Amir and MP Ibrahim Al Nafei. The proposal aims to help SMEs, which are struggling financially by reducing fees wherever possible. He said the proposed law is a practical step to reduce the burdens faced by SMEs. Mr Al Kooheji said that the main goal is to help SMEs grow.

“It is important to strengthen the private sector and SMEs are at the heart of the private sector. “We need to reduce their burdens and help them grow while ensuring their stability.”  Meanwhile, the Council of Representatives Speaker Fawziya Zainal stressed the crucial importance of small and medium enterprises in developing the national economy, revitalising trade, spurring growth and and generating jobs.   This came as she received a delegation from the Bahrain Small and Medium Enterprises Society, led by Chairman Dr Abdulhassan Al Diri. She said that the legislative branch of government to implement the directives of His Majesty King Hamad bin Isa Al Khalifa, stressing the council’s keenness on enhancing the standing of businessmen and supporting their contribution to Bahrain’s comprehensive development, in compliance with 2030 Bahrain Economic Vision and the goals of the Fiscal Balance in the Government Action Plan.

The speaker commended the edict, which was issued by the Cabinet recently on supporting the small and medium enterprises, reiterating the council’s keenness on consolidating SMEs businesses. Dr Al Diri expressed thanks to the Speaker, commending the efforts she exerts along with lawmakers to provide all necessary facilities to spur economic growth and encourage productive families and small and medium enterprises.