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Al-Nasheet: The World Bank allocates a billion dollars for the sector in the Middle East

President of the Bahrain Small & Medium Enterprises (SME) Society, Dr. Abdul Hassan Al-Dairi said that the society launched its annual plan which includes ambitious programs aiming to promote the concept of entrepreneurship in the Kingdom. For his part, the Chief Executive of Daily Public Relations, Mahmood Al-Nasheet, stressed on the importance of this vital economic sector in which it is hoped to create new jobs. This came on the sidelines of the signing an agreement between SME and Daily PR to issue a quarterly magazine of the society.

“The aim behind the society’s decision to launch a specialized magazine is to promote the concept of entrepreneurship, highlight the entrepreneurs in various sectors and to show their success stories. The role of these institutions is very prominent in supporting the economies of the countries. The Kingdom did not ignore to develop its model that many countries are keen to apply,” Al Dairi added.

“From this standpoint, we signed a partnership agreement with “Daily” public relations agency. It will be responsible of the issuance of this specialized quarterly magazine. We chose this agency for its experience and its Bahraini competencies,” he explained.

Dr. Al-Dairi said that the honorary president of SME, Jawad Al-Hawaj, blessed this decision which lays the foundation for a specialized media arm for the society.

Meanwhile, the vice president of SME, Abdulrahim Fakhro, expressed his delight over signing the agreement that, he said, comes in the effort of supporting the sector in the Kingdom and the GCC countries. “The magazine will be a link in a huge chain of initiatives. On top of these initiatives is the Amir of Kuwait, Shaikh Sabah Al-Ahmad’s initiative to establish the “Arab Fund” to support small enterprises with a total of one billion dollars. Kuwait itself has donated half a billion. There are many initiatives like the union of entrepreneurs in the GCC,” said Fakhro.

For his part, the Chief Executive of “Daily” public relations agency, Mahmood Al Nasheet, expressed his happiness over being responsible of the issuance of this special magazine. “The business leaders sector is considered one of the most important

sectors in economy. The World Bank has allocated about a billion dollars to finance the small and medium enterprises in the Middle East during the current year which shows the importance of the sector in supporting the economies of the countries of the region,” he said.

Pointing out that “The budget of the World Bank confirmed the validity of strategies that countries strongly keen to strengthen the sector, led by the Kingdom of Bahrain as well as regional initiatives headed by Mohammed bin Rashid Establishment initiatives for the development of small and medium enterprises,” he pointed out.

Al-Nasheet concluded that the responsibility for the issuance of a specialized magazine for the sector is a big task assuring that the agency will make its maximum effort to reach the best results.