Bahrain Small and Medium Enterprises Development Society have met with its Honorary Chairman Mr. Farouk AlMoayyed to brief him about the achievements of the society and the progress of its initiatives and plans, which aim to support the development of this important segment of Bahrain’s economy.
The meeting was attended by Society Chairman Ahmad AlSaloom, vice-chairman Khalaf Hujair, along with Board members; Nofal Al Kooheji and Dr Fadheela Hussain, in addition to secretary Ammar Awachi and financial controller Ahmed Khalfan.
The Board briefed the Honorary Chairman about the Vision and the objectives of the society, which focus mainly on promoting Entrepreneurship and contributing in creating an environment that support the healthy growth of SMEs in coordination with various government and private entities.
During the meeting, the society reviewed the operation of Farouk AlMoayyed SMEs Development Center “FACED” that has reached its full capacity of 20 enterprises. FACED, which is managed by the society, aims to incubate entrepreneurs and support start-up businesses to find their way towards success.
During the meeting, the society reviewed the operation of Farouk AlMoayyed SMEs Development Center “FACED”, which is managed by the society and aims to incubate entrepreneurs and support start-up businesses to find their way towards success. Its capacity was recently increased from 20 to 45 business incubator and there are around 60 enterprises on the waiting list.
Moreover, The society reviewed the progress and preparations of the Clinics and Medical Services Centre, also managed by the society, which is planned to be launched in the first quarter of 2016, and it offers specialized clinics equipped with the latest medical equipments serving more than 54 doctors.
They also discussed other achievements of the society such as the Third ALWANE Regional Summit, which was organized by ALWANE-Bahrain committee in the Society, under the patronage of H.E. Zayed R. Al Zayani, Minister of Industry, Commerce and Tourism. The event was attended by a large number of businesswomen and other participants from several Arab Countries. They also reviewed the developments of BizBahrain Magazine which is published by the society in collaboration with Stratford Publishing House, and the plans to publish a new magazine specialized in SMEs in Bahrain.
On this occasion, Mr. Farouk AlMoayyed praised the important role played by the society in supporting SMEs in Bahrain and helping them to develop their businesses through provision of support and advice, and contributing in facilitating doing Businesses in Bahrain
“As a part of our obligation towards our country and Bahrainis, we have created a dedicated incubator center to support entrepreneurs and to provide them with the opportunity to develop their businesses. Also, We are very proud to see the second phase of the center, which aims to provide support to doctors and health specialists, is about to be launched soon”. He said.
Mr. AlMoayyed also expressed his great satisfaction with the tangible achievements of the society.
Mr. Ahmad AlSaloom, Society Chairman said “We are pleased to extend our deep thanks and appreciation to the Honorary Chairman of the Society for his continued support and for encouraging us to put more effort to to support businessmen and entrepreneurs”.
“We would like to take this opportunity to thank Mr. Farouk Almoayyed for trusting us in managing FACED and We look forward to play a greater role in supporting this sector in light of the volatility in the economies of the region”. He concluded.
Khalaf Hujair, Society vice-chairman, reviewed a set of proposals that are intended to be given to MOIC and BCCI, which aims to reduce the financial burdens that face the enterprises.
The Bahrain SMEs Development Society was established in 2013 with the aim of supporting the Economic Vision 2030 which encourages youth in pioneering business and the development of private projects and to grow it in a business- friendly environment, to be the catalyst for the growth of the economic sector.