Companies must restructure methodologies to reflect market changes: Tamkeen

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Tamkeen yesterday stressed the importance of restructuring the current methodologies within businesses, to reflect market changes, where it would support businesses and entrepreneurs adopt technologies to make them more efficient and sustainable, amid the economic repercussions caused by the Coronavirus outbreak.

Shaikh Mohammed bin Essa Al Khalifa, the Chairman of the Labour Fund, Tamkeen, was addressing the Tamkeen’s annual Consultation Forum held virtually this year.

“Tamkeen will be focusing on supporting the operations of businesses and empowering entrepreneurs and business owners to manage their businesses with effective, creative, and flexible control,” said Shaikh Mohammed. The Forum had the participation of Tamkeen’s customers and representatives of the private and public sectors. In his address, Dr Ebrahim Janahi, the Chief Executive of Tamkeen, said the Fund has contributed towards establishing a solid foundation for the growth of the national economy, especially during 2020.

The next stage

Tamkeen’s Business Continuity support programmes, Janahi said, played an integral part in supporting businesses and helping them overcome the economic repercussions caused by the spread of the global pandemic. On this note, he said the “next stage is a continuation of what we have already started with our strategies.” “The most important element of this strategy is to focus on transforming the methodologies within businesses – an element which has proved its importance after the pandemic outbreak, and the upcoming strategy is focusing on just that.” Dr Janahi said the upcoming strategy is further supporting startups and improving the efficiency of its programmes while expanding the financial schemes.

Focus on Jobs, digital transformation

The aim is to create high-level job opportunities, in addition to creating new financial resources, and providing innovative ideas to combat economic challenges. Dr Janahi also said the strategy also focuses on digital transformation to ensure flexibility and sustainability within the workforce while having training programmes tailored towards the needs of each segment.

The Forum concluded with the recommendation of meeting the needs of the market, especially when it comes to the growth of the private sector enterprises, and enhancing the professional and creative skills of employees.

The recommendations also emphasized supporting enterprises that can expand globally, develop, and are technology-driven, alongside supporting startups through the Enterprise Support Programme and other initiatives.