Shaikh Salman bin Khalifa Al Khalifa, Bahrain’s Minister of Finance and National Economy, highlighted the importance of supporting small and medium enterprises (SMEs). He emphasized that SMEs are essential for driving economic growth. Furthermore, they foster innovation and competition, making significant contributions to various sectors.
Additionally, the Minister recognized the private sector as a key partner in this effort. The private sector plays a crucial role in boosting Bahrain’s competitiveness. As a result, this creates more growth opportunities across multiple industries. Consequently, this focus on SMEs aligns with Bahrain’s broader goals of strengthening its economy.
One of the key initiatives in this regard is the partnership between the Labour Fund (Tamkeen) and Mastercard. Together, they aim to launch the region’s first inclusive growth center, “STRIVE.” The event took place at Mastercard’s Global Inclusive Growth Summit (GIGS 2025) in Washington, D.C., USA. This partnership will equip SMEs with the necessary financial and digital tools to thrive.
Importantly, Bahrain becomes the first country in the region to host the STRIVE Center. This milestone reflects the leadership of Shaikh Isa bin Salman bin Hamad Al Khalifa. Under his guidance, Bahrain’s entrepreneurship ecosystem has advanced significantly. In line with this vision, the government also plans to train 50,000 Bahrainis in artificial intelligence by 2030.
Tamkeen plays a pivotal role in realizing this vision. Maha Abdul Hameed Mufiz, Tamkeen’s Chief Executive, noted that the STRIVE Center will support both the labor market and the private sector. It will provide essential resources to SMEs, thereby increasing their productivity and competitiveness.
Moreover, the STRIVE Center will offer a range of services. These will include access to capital, digital solutions, and business networks. As a result, SMEs will enhance their financial flexibility and digital capabilities. In turn, this will help them contribute even more effectively to Bahrain’s national economic growth.
Shamina Singh, Founder and President of Mastercard’s Center for Inclusive Growth, praised SMEs for their role in driving global economic growth. She explained that small businesses create significant opportunities and foster innovation. Since its inception in 2020, the STRIVE program has supported over 12 million businesses. It has helped them navigate the challenges of the digital economy.
In conclusion, Bahrain’s commitment to supporting SMEs underscores its determination to foster sustainable growth. With initiatives like the STRIVE Center, Bahrain continues to lead in nurturing innovation and economic development.
