Tamkeen announced that it is about to embark on the next phase of its 2018-2020 strategy, which will focus on maximising the impact of the support opportunities to enable the development of individuals and enterprise.
Plans for this upcoming phase are based on the studies conducted by Tamkeen on the Business Development and Training and Wages Support programs offered within the Enterprise Support, as well as reports on economic performance indicators and the outcomes of the consultation sessions with the private sector organized by Tamkeen during the past year.
In view of the market’s current expansion goals, Tamkeen’s Chief Executive, Dr. Ebrahim Mohammed Janahi, said in a statement that Tamkeen plans to further improve the mechanisms and processes of the support opportunities and revamp- the Business Development Program and the Training and Wages Support Program. These efforts come with the aim of amplifying the positive impact these programs have on the business sector and individuals, as well as the overall performance of Bahrain’s national economy.
Dr. Janahi also stated that Tamkeen’s strategies since its establishment have achieved the organization’s objectives over that period with regards to addressing the market’s need for training, especially after the integration of the functions of the qualitative councils within Tamkeen’s framework. He went on to note the importance of achieving a sustainable impact from Tamkeen’s various support programmes and re-directing support plans to remain aligned to changes within the labour market and the objectives of Bahrain Economic Vision 2030 in terms of promoting innovation and optimal utilisation of national support allocated to emerging economic sectors.
“Tamkeen has undergone a noticeable evolution in the support extended to the private sector and the impact that had on the national economy. Over the past year, Tamkeen launched its 2018-2020 strategy. Over the same period, Tamkeen allocated over BD 95 million to the various support programmes and initiatives underpinning its strategy, with a BD 10 million increase in its budget,” Dr. Janahi stated.
He added that over the past 3 years, the various categories under the umbrella of the Training and Wages Support program have served more than 25% of the Bahrainis currently employed in the private sector, a testimony to the program’s marked improvement after being overhauled.
In 2018 alone, the program’s wage support category witnessed a 212% increase in the support amount given through it compared to the previous year, directly contributing to the employment of more than 9,000 Bahrainis in the private sector.
As for the Wage Increase category, the support amount increased by 76% and served more than 5,000 Bahraini employees, an increase of 160% compared to the previous year. The training support category, meanwhile, jumped by 125% in 2018 compared to 2017.
Dr. Janahi further pointed out that start-ups comprised 63% of the total number of enterprises served under the same program since its launch as part of the larger flagship Enterprise Support Program in 2016. Start-ups also comprised around 56% of the total enterprises served by the Business Development Programme since its launch in 2014.
According to Labour Market Regulatory Authority (LMRA) figures, the labour market registered a 1% increase in the total number of Bahrainis employed by the private sector in 2018 compared to 2017, as well as a 1.9% increase Bahrainis’ wages over the same period, a positive indication of the overall impact the collective national efforts – including Tamkeen – have had on stimulating private sector growth.
At the same time, the Business Development Program also saw the number of enterprises and total support amount increase during the past year compared to 2017, with the number of enterprises served climbing by 27% to reach 1,596 enterprises and the total support amount increasing by 18%.
The programs will be revamped to offer an even better customer experience, including the introduction of digital solutions to reduce the time taken to process requests and approvals, facilitate follow-ups on application documents and track performance indicators to ensure the support given has the desired effect and impact.
“As part of our ongoing efforts to develop Tamkeen’s programs, Dr. Janahi commented, “we are revamping the Business Development Program and Training and Wages Support Program to align them with the recent developments related to the allocation of support and the programmes’ impact and sustainability. As such, the two programmes will temporarily stop accepting new requests for six weeks starting from January 15, 2019, while they are revamped to enable maximum benefit and support opportunities for our customers, whether individuals or enterprises.
It is worth noting that Tamkeen’s also supports to growth of the private sector and enterprises by subsidising the 1% unemployment insurance imposed on the private sector, with nearly BD 165 million in subsidies given for this purpose from 2007 to 2018.