Bahrain, 20 November, 2024 : Bahrain’s SME sector recorded an 85% year-on-year growth in the first quarter of 2024, attributed to government initiatives fostering a robust entrepreneurial ecosystem, Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa announced.
Speaking at the World Business Angels Investment Forum (WBAF 2024) in Bahrain, Shaikh Salman emphasized the kingdom’s vision of becoming a global hub for investment and innovation, with SMEs as a cornerstone of the economy.
The SME Development Board has implemented over 40 measures to support businesses, complemented by initiatives such as the Al Waha Fund of Funds, the Hope Fund, and the SME Development Fund to improve access to capital. Bahrain’s strategic location, infrastructure, and regulatory environment further attract investment and spur innovation.
Highlighting the GCC’s entrepreneurial potential, Shaikh Salman stressed the importance of global partnerships, thoughtful policies, and technology in driving growth. Bahrain’s involvement in global initiatives, including the G20 Global Partnership for Financial Inclusion, underscores its commitment to expanding financial access and fostering entrepreneurship.
The two-day WBAF 2024 event, under the patronage of HRH Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, aims to strengthen regional entrepreneurship and investment opportunities.
Source : www.zawya.com
