LEGAL PERSPECTIVE: Wise gesture from Prime Minster to SMEs by Dr. AbdelGadir Warsama Ghalib, Legal Counsel Bahrain

ADVERTISEMENT Global Offer 728x90
Dr AbdelGadir Warsama Ghalib, Principal Legal Counsel, Bahrain

His Royal Highness Sheikh Khalifa Bin Salman Al Khalifa, the Prime Minster, during past few days took a wise great gesture to help SMEs in Bahrain. Wherein His Royal Highness, has issued an order to allocate 10% of the Government tenders and purchases to this embryonic sector.

Asia 728x90

No doubt, this wise initiative will give great boost and bush to SMEs and entrepreneurs away from the uncompetitive competition they are facing from giant companies and corporations. Allocating this percentage of Government tenders and purchases exclusively to SMEs, will give a deep breath and great relief, as they will be eligible and competent to take part of the tender’s “cake” for the sector. Whereas, in normal circumstances it would be mission impossible.

SMEs constitute more that 90% of registered companies in Bahrain. This figure indicates their importance in business fields wherein they represent many diversified activities and services needed by all at all times. We easily find SMEs in every corner, performing many activities and essential services to all community. Extending SMEs scope to serve Gov. needs will keep them healthy, competitive, net-worthy thus taking greater role in national economy, moreover, supporting entrepreneurs and all families depending on SMEs.

All SMEs are in dry need for all types of financial support that brings liquidity in their hands. The new policy giving them a share in Gov. tenders will enable them to mobilize their efforts and brains towards new Gov. projects which constitute a complete new promising market for SMEs. Some could say that, such market was closed in their face or, if not, completely closed it would be extremely difficult to pass through. Based on the new wise order from His Highness the Prime Minster, now, part of the door is permanently open for SMEs through which they can pass at any time without any obstruction. This is great stand, apart from the wise wisdom behind the new policy, that will help all in Bahrain.

We take the opportunity to ask SMEs and entrepreneurs to grasp this golden opportunity coming in a golden plate from His Highness and to take all steps to fully utilize this opportunity for their benefit. The ball is now in their ground and they must play towards the goal before the game ends. Score is a must for SMEs.