Bahrain explores new economic choices

The Labour Fund disclosed its own motto through the term (Tamkeen), which is Arabic for empowering. Tamkeen intends to empower locals to be the employee of choice in the private sector. The project focuses on training Bahraini nationals prior to seeking employment in the private sector Numerous indications suggest that Bahrain is embarking on a fresh course of economic choices ultimately designed to make maximum use of scarce resources. Amongst others, the measures call for enhancing official investments in international markets while reducing state holdings in some local firms. Still, another policy stresses on productivity in addressing the challenge of creating jobs for locals. In September, Mumtalakat obtained a $500mn facility from a syndicate of local banks to invest abroad. Mumtalakat is a holding company encompassing... [read full story]