Bahrain to publish database of 45,000 local companies online

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Making sound investment and partnership decisions is no more a painful affair, if in Bahrain, especially amid the coronavirus pandemic. Soon, all the information investors need on companies here will be at their fingertips.

Making this possible is the Bahrain Chamber’s decision to publish the database of 45,000 local companies online.

“This will help investors and business owners make sound investment and partnership decisions, said Sameer Nass, the Bahrain Chamber and the Federation of GCC Chambers Chairman.

The Bahrain chamber, he said, is also launching a website for publishing the information on the companies.

Speaking to a Cairo-based newspaper Ahram Gate, Nass also expressed optimism in the abilities of Arab countries to overcome the repercussions of the pandemic and resume economic activities.

“This is particularly important in light of the vast economic reforms and stimulus packages extended by the Arab nations to revive and invigorate their economies,” said Sameer Nass.

Nass was in Egypt to launch the second edition of the “Arab Entrepreneurship Rally” Competition.

Nass also drew attention to the modern investor-friendly laws and legislations in Bahrain.

“The updated bankruptcy and re-organisation law, Protection and Promotion of Competition law, personal data protection law,” Nass said are confidence-inspiring. Moving on, Nass also recalled the first educational mission from Egypt in 1919.

He voiced pride in the extensive trade and investment between the countries, citing the non-oil trade volume, which amounted to 471 million US dollars in 2019, spanning financial, construction, manufacturing, agriculture, tourism, ICT and other sectors.

Nass said the entrepreneurship development model of Bahrain, which falls in line with the Economic Vision 2030, aims at fostering a culture of innovation and entrepreneurship, enhancing the contribution of Small and Medium Enterprises to the national economy, and empowering the youth.

“The Bahrain Chamber launched the first edition of the Arab Entrepreneurship Rally competition, and the second edition, against this backdrop.”

Elaborating on the competition, Nass said the first edition, held under the patronage of His Majesty King Hamad bin Isa Al Khalifa, had the participation of 800 Arab teams.

The competition attracted over 170 thousand dollars worth of investments in the private sector of the Arab Region.

The second edition, Nass said, will be held under the patronage of the Arab League and comes to build on the success of the first.

The competition targets youths from the Arab region and turning their innovative ideas into successful businesses by providing logistics, consultation and financing via interested angel investors.