Dr Essam Fakhro the Chairman of the Bahrain Chamber of Commerce and Industry on Saturday praised the directives of His Royal Highness Prince Khalifa bin Salman Al Khalifa; the Prime Minister aimed at reducing or freezing the some of the government levies to help traders and private sectors especially the SMEs.
The BCCI Chairman also commended the decision calling for the review of legislation and regulations in order to assist the commercial sector towards further breakthrough, and to consider introducing government projects of major development supports the national economy and is working to activate it.
Dr Fakhro said that the directive reflects the keenness of His Highness to provide all the necessary ingredients that would restore vigour and vitality of the private sector by enabling it to overcome the impact of the recent events.
“This shows HRH PM’s keenness and awareness of the importance of strengthening the role of the economic entity in the Kingdom and continue to pay for his pillars and a strong foundation to make it able to continue its competitive position and leadership,” he added.
“The return of economic activity in the Kingdom to the previous levels require the strengthening of security and stability, praising the government’s efforts in creating the atmosphere and overcome any negative consequences left by the recent events, and their role in the formulation of a clear vision of contributing to the alleviation of financial burdens on institutions and help them overcome any difficulties that may be encountered recently.
He also praised the sustained efforts made by distinguished government led by the HRH PM during the last period to minimize the negative impacts of the crisis on the commercial sector.
“The Central Bank of Bahrain discussed and consulted with the local banks to study the best ways to alleviate the small and medium enterprises on their obligations to these banks is result of HRH PM’s directives as well,” he added.
“The Prime Minister’s stance itself creates a state of tranquility among the commercial sector, and its findings will be of immediate returns on the performance of these institutions and their ability to overcome the crisis.”
He also expressed appreciation for the guidance of His Highness the Prime Minister to study ask government projects of major development to support the national economy and is working on the revitalization especially in the sectors of housing and infrastructure, stressing that such a project to move the economic wheel in all its sectors, as it will provide the needs of citizens and the evolution of the standard of living.
He said that his call for the adoption of economic policy check on the ambitions of economic activity and growth requires the cooperation of everyone to achieve this goal and that we are all at this stage and the ensuing developments and a new reality.