The Labor Fund (Tamkeen) held its second quarterly Board of Directors meeting for the year 2023 where the board reviewed the performance of the second quarter, as well as the progress of work in accordance with the performance indicators and strategic priorities announced for the current year.
Tamkeen’s Chairman, His Excellency Shaikh Mohammed bin Isa Al Khalifa reiterated that the organization’s efforts during this period focus around developing a range of initiatives and support offerings to meet national aspirations, in line with recent government announcements.
He added: “Tamkeen is an integral part of the government’s support system to the private sector, which continues to play a key role in economic development, private sector empowerment, and enhancing the competitiveness of national talent both the locally and internationally.”
Her Excellency Maha Mofeez, Tamkeen’s Chief Executive added: “Tamkeen has made important strides in achieving its strategic priorities for the year by focusing on the creation of quality jobs, especially in the technology sector, and supporting economic development by encouraging innovation, and empowering businesses to improve their productivity and enhance their access to a wide range of innovative solutions and financing options.”
The Board reviewed Tamkeen’s most significant achievements during the first half of the year, which showed remarkable progress, especially within the areas of training and employment. Since January 2023, Tamkeen has supported the training of more than 4,000 Bahrainis and the employment of more than 4,500.
A total of 2,500 enterprises of various sizes, representing a wide range of sectors, have been supported by Tamkeen as of the end of May this year, bringing the total number since Tamkeen’s establishment to more than 74,000. Tamkeen’s support for foreign-owned companies through enterprise and human capital support programs makes up 4.85% of the total support for enterprises over the past years. The Labour Fund supports these companies for the purpose of creating quality job opportunities for Bahrainis, enriching local supply chains through collaborations with local SMEs, and providing the national workforce with opportunities to build quality skills through knowledge transfer and experience in international companies. Over 57% of the support to these institutions was through Tamkeen’s human capital development programs, and these companies have contributed to creating over 4,000 jobs for Bahrainis in the local market.
The Board of Directors was also briefed on current training initiatives, including the graduation of several batches through programs facilitated by partnerships with General Assembly, a technology and software engineering leader, as well as courses on cybersecurity, held in partnership with the SANS Institute. These partners have reported high success rates with General Assembly reporting 67.5% positive outcomes for their graduates within the first 3 months after graduation which includes employment, career progression and freelance opportunities. While SANS Institute reported that 66% of their graduates have received employment and career progression opportunities.
The meeting included a review of important developments related to Skills Bahrain, which launched two reports on the Kingdom’s telecommunications and financial services sectors. Work is ongoing to launch reports addressing nine other key sectors, shedding light on emerging jobs and changing labor market requirements, and identifying skills gaps and the required Career Pathway Maps to address them.
Earlier this year, Tamkeen announced its strategic priorities for 2023, which included facilitating the increased economic participation of Bahrainis, providing training that is aligned with the labor market needs in new and emerging skills, as well as supporting growth and development of enterprises and ecosystem development.