Bahrain Arab model for entrepreneurship for the SME development has emerged as a global benchmark with over three dozen countries already replicated the model for start-up businesses.
The Industry and Commerce Minister Dr. Hassan Fakhro who honoured the fresh batch of the entrepreneurs said that he was overwhelmed with the success story of this initiative.
The entrepreneurs completed successfully a joint orientation programme that was organized by the Islamic Development Bank and the United Nations Industrial Development Organization (UNIDO) on the Bahrain Arab Model for Entrepreneurship and SME development. The honouring ceremony was held at the Ministry of Industry and Commerce Complex in Seef District.
Dr. Fakhro said that the Kingdom of Bahrain has become a center for best practices on human development and entrepreneurship economic empowerment.
“Sustainable development can best be achieved by providing support to human capital development as a means of empowering the people to contribute to the economy and become economically active. Promoting investment and developing SMEs, requires well groomed entrepreneurs who seek opportunities and challenge themselves to succeed, coupled with a set of added value services; and this is exactly what the Bahrain – Arab Model methodology was able to achieve,” he added.
The government of Bahrain embarked on this strategic partnership with UNIDO in 1999, with a view to providing full support to potential entrepreneurs, and all the organs of the Government have focused their efforts towards achieving this goal.
As a result of the overwhelming success and achievements of this methodology, many countries have requested our support in developing the Bahrain Arab Model in their respective countries. Thus, the program is currently implemented in twenty two countries from Uruguay to Sierra Leone and all the way to China.
This initiative provides a tried and tested path that will lead to economic prosperity and job creation for our youth through joint investments and collaboration between entrepreneurs in our region and your countries, and I very much look forward to seeing you all again at some point in the near future to mark the launching of the program in your respective countries.