In an outstanding display of progress, Bahrain’s Labour Fund (Tamkeen) concluded the first quarter of 2023 with significant achievements in its strategic priorities. Tamkeen’s unwavering commitment to empowering Bahrainis and fostering economic growth led to remarkable outcomes across multiple fronts.
Strategically focused on four key priorities, Tamkeen diligently worked towards enhancing economic participation, aligning training with emerging skills, supporting enterprise growth, and nurturing ecosystem development. These pillars set the stage for positive economic impact and sustainable growth, steering Bahrain towards a thriving future.
During the first quarter, Tamkeen’s resolute efforts in quality training and proactive collaboration with enterprises led to the employment support of over 2,950 Bahrainis, marking a notable increase of 16% compared to the previous year. Impressively, 11% of these positions represented high-quality jobs. Additionally, Tamkeen provided training to more than 2,480 Bahrainis, enabling them to acquire valuable skills and improve their prospects in the labor market.
Driven by their strategic focus, Tamkeen placed special emphasis on empowering Bahraini women and facilitating youth entry into the job market. These concentrated initiatives resulted in 1,350 women receiving employment support and 1,500 women benefiting from training opportunities. The fund’s dedication to youth empowerment saw over 4,860 Bahrainis aged 35 and below benefiting from employment support and training programs.
Tamkeen’s commitment to the private sector’s growth as the driving force behind Bahrain’s economy was evident in its support for over 1,800 enterprises across various sectors and scales. Impressively, 87% of the supported enterprises were small and medium-sized enterprises (SMEs), while 31% belonged to key economic sectors. By nurturing their operations and human capital development, Tamkeen continues to fuel development and prosperity within the private sector.
Expressing her satisfaction with the first quarter’s achievements, Her Excellency Maha Mofeez, Chief Executive of Tamkeen, commented: “We are starting the year on a high note with great success in driving our objectives to achieve our main purpose of driving greater economic impact for the Kingdom of Bahrain. We plan to continue closely monitoring our performance to ensure we are on the right path to achieving our goals.”
Transparency remains a core value for Tamkeen, as evidenced by their rigorous monitoring of supported enterprises to identify potential violations. During Q1 of 2023, the fund addressed 61 violations out of the 7,230 applications processed, representing less than 1% of the total. Tamkeen’s dedicated violations committee actively safeguards the effective utilization of support, working in accordance with established policies and procedures. Collaborations with the General Directorate of Anti-Corruption & Economic & Electronic Security further reinforce their commitment to upholding ethical standards.
Furthermore, Tamkeen launched several initiatives in the first quarter to support the employment of Bahraini doctors in private-sector institutions. These initiatives encompassed training, employment assistance, and incentives for institutions with high rates of Bahrainization in their medical staff.
In pursuit of their mission to meet labor market demands, Tamkeen forged partnerships with leading local and international institutions. Notably, the collaboration with Fives Group will provide specialized training opportunities for Bahrainis, further expanding their skill set. Additionally, Tamkeen entered into agreements to support the growth and expansion of various local enterprises and factories.
Tamkeen’s impactful strides in the first quarter of 2023 lay a solid foundation for Bahrain’s economic prosperity. With a clear vision and steadfast commitment, the fund continues to empower Bahrainis and propel the nation towards a future marked by growth and opportunity