Manama, January 11 (BNA) The Labor Fund (Tamkeen) held a press conference to present the most important achievements made in the previous year and the strategic priorities for 2023, in line with Tamkeen’s commitment to open and transparent communication with the labor market regarding future plans.
During the conference, Tamkeen affirmed its commitment to the main objectives that serve its main mission of supporting the growth and development of the national economy by empowering the private sector to be the main engine of economic development and empowering Bahraini talents with the required skills to become the first choice for employment in the labor market.
Enablement objectives include developing the national economy and the private sector, enhancing the productivity and competitiveness of the national workforce, creating quality job opportunities for Bahrainis, and contributing to increasing the economic participation of Bahraini women. Focusing on these goals has led to promoting development and growth in the private sector by increasing the number of establishments in the market and the number of Bahrainis working in the private sector.
Commenting on Tamkeen’s performance over the past year, Ms. Maha Mafiz, CEO of the Labor Fund (Tamkeen), said: “We work as part of a comprehensive ecosystem that works to achieve national goals in line with economic recovery priorities as per our directives. The esteemed government under the wise leadership of His Majesty the King Hamad bin Isa Al Khalifa We are committed to implementing the visions and aspirations of the government’s program that centers around the Bahraini individual, thus contributing to the comprehensive economic development.Therefore, we worked last year on implementing a comprehensive transformation plan at the enterprise level that included setting key performance indicators and designing new programs with restructuring support in every program.As part of the transformation, we also proactively identified economic opportunities with high potential and focused on increasing productivity on projects that had the greatest economic impact.”
Qusai Al-Arayedh, Chief Growth Officer at Tamkeen, highlighted the major achievements made in the previous year, saying: “Tamkeen supported 4.1 thousand enterprises of all sizes in various sectors through all programs, with 57% of the supported companies being new projects, and 48%. Of the institutions that were supported were small and medium-sized companies, and 71% of the institutions were supported to train and employ Bahrainis. to the previous year. This included supporting more than 10,000 job opportunities and more than 8.4,000 training opportunities for Bahrainis to increase their participation in the labor market, and a 29% increase in beneficiaries of professional certificates compared to the previous year. Moreover, the percentage of women receiving job support increased to 56% of all supported, most of whom are university degree holders between the ages of 24 and 35. facilitated their entry into the labor market.
It is worth noting that the Labor Fund (Tamkeen) launched its fifth strategic cycle (2021-2025) in 2021, which is based on four main pillars that are in line with the requirements of the economy at the time and the rapidly changing needs of the post-Covid labor market. The pillars focus on increasing economic impact by aligning Tamkeen’s support with specific economic outcomes, prioritizing productivity by stimulating high-potential sectors and encouraging enterprises to develop their business models and digital transformation. Tamkeen also proactively focused on projects aimed at creating a greater economic impact to ensure the highest levels of efficiency and influence in advancing goals, accelerating human capital development, and meeting the requirements of the labor market by adopting a modern approach to enhance inclusion and economy. Bahraini participation. Ms. Alia Ali, Executive Director of Strategy and Transformation at Tamkeen, said: “In line with the current strategic cycle, Tamkeen will continue its support for the purpose of creating job opportunities for Bahrainis, promoting flexibility at work, and encouraging companies to adopt technology that can diversify and enhance the job opportunities it provides, as well as On increasing economic participation through employment and entrepreneurship. We will also continue to focus on increasing the numbers and types of new innovative projects. In addition, we will continue our support for the purpose of developing the private sector by enabling companies to pursue innovative solutions, improve financing opportunities, and provide comprehensive financial and advisory support.”
In light of the achievements made in 2022, Tamkeen held consulting sessions with more than 100 companies of various sizes and from various sectors to learn about their future plans and encourage them to continue growing and expanding through the optimal use of resources. Tamkeen will continue to drive economic impact by focusing on four main priorities in 2023 to develop the labor market and the private sector, in line with the government program and recommendations of the economic recovery plan. The main areas of focus are:
1- Facilitate increased economic participation of Bahrainis
In line with one of the main tasks of empowering Bahrainis to enhance the competitiveness of Bahrainis to enable them to become the first choice for employment, the 2023 strategy focuses on increasing the economic participation of Bahrainis in the labor market by providing access to job opportunities and supporting entrepreneurship and self-employment, in addition to engaging the private sector Proactively engages in new partnerships to facilitate the creation of medium and high value jobs for the national workforce. Furthermore, there will be a focus on supporting flexibility in the workplace such as part-time and teleworking, especially for women, to ensure career growth for Bahrainis and to address rapidly changing market demands.
2- Providing training that is commensurate with the needs of the labor market in terms of new and emerging skills
Based on the key performance indicators measured since the beginning of 2022 to report on organizational performance and economic impact, Tamkeen plans to continue to enhance its performance in 2023 by supporting the training of Bahrainis to increase their economic participation, with a focus on high quality and specialized training in emerging and high-potential skills in response requirements of the labor market and for the purpose of creating a greater economic impact. This will be facilitated through the development of a roadmap for programs and partnerships as well as the prioritization of results-based training leading to job placement and progression.
3- Supporting project development
To achieve one of its main goals, which is to drive economic growth in the Kingdom, Tamkeen will continue its support for institutions of all sizes and in all economic sectors that lead to greater economic impact and show high levels of productivity, given their potential for growth and quality. Job creation. Tamkeen will also support the growth of enterprises by facilitating access to improved financing solutions, especially for small and medium-sized companies, through its active partnerships with several local banks, which will enable companies to expand and reach regional and global markets. It will also support the empowerment of existing companies to implement new business models and benefit from technology solutions that can enhance productivity and enable them to grow and expand. Furthermore, you will support the empowerment of start-ups with a focus on technology-based businesses that have innovative and exciting business models.
4- Supporting the development of the ecosystem
The national economic performance last year witnessed a recovery that was not limited to the effects of the global pandemic, but was also reflected in various other sectors due to the current rise in oil prices, a favorable business environment, and favorable government policies that drive growth and create high-quality job opportunities. In the coming period, the focus will be on enriching the ecosystem of entrepreneurship by giving priority to companies with high potential, innovative and scalable locally and internationally, thus creating a positive multiplier effect across the national economy and contributing to providing more quality and sustainable job opportunities. national workforce.
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