Private sector key engine of economic development

TDT | Manama                           

The Daily Tribune – www.newsofbahrain.com   

The Labour Fund, Tamkeen, is committed to supporting the growth and development of the national economy by enabling the private sector to be the key engine of economic development.

Tamkeen also affirmed its keenness to empower Bahraini talent with the skills required to become the first choice of employment in the labour market.

At a press conference held yesterday, Tamkeen showcased the key achievements from the previous year and the strategic priorities for 2023, in alignment with its commitment to open and transparent communication with the labour market regarding future plans.

Tamkeen emphasised its main objectives such as developing the national economy and the private sector, enhancing the productivity and competitiveness of the national workforce, creating quality job opportunities for Bahrainis, and contributing to increasing the economic participation of Bahraini women.

Focusing on these objectives enhanced development and growth in the private sector through increasing the number of enterprises in the market and the number of Bahrainis employed in the private sector.

Commenting on Tamkeen’s performance last year, its Chief Executive, Maha Mofeez, said: “We operate as part of a comprehensive ecosystem that works to achieve national goals in alignment with the economic recovery priorities as directed by the esteemed government under the wise leadership of His Majesty King Hamad bin Isa Al Khalifa.

“We are committed to implementing the visions and aspirations of the government program which are centered on the Bahraini individual, thus contributing to overall economic development. Therefore, last year we worked on implementing a comprehensive organisation-wide transformation plan that included setting key performance indicators and designing new programs while also restructuring the support in each program.

“As part of the transformation, we also proactively identified high potential economic opportunities and focused on driving productivity in projects that carried greater economic impact.”

Tamkeen embarked on its fifth strategic cycle (2021-2025) in 2021, which is based on four key pillars aligned with the requirements of the economy at the time and the rapidly changing needs of the post-Covid labour market.

The pillars focus on increasing economic impact by aligning Tamkeen’s support with specific economic outcomes, prioritising productivity by incentivising high potential sectors, and encouraging enterprises to develop their business models and transform digitally.