Manama, September, 2014: “Abdullah Nass Mechanical Services”, a division of the Nass Corporation, will become the first company to be served by Tamkeen’s “Mega Enterprise Support Scheme”. The newly-developed initiative provides grants for Bahrain’s 5 largest private sector employers to enable them to develop and diversify their business portfolio.
The total budget for the scheme is BD 5 million (BD 1 million per company). The grants will be utilised to subsidise key capital expenditures which are in line with the companies’ development and expansion strategies. These expenditures will in turn boost the national economy and create job opportunities for Bahrainis.
The scheme requires the companies to submit their capital expenditures to Tamkeen beforehand for review. If approved, Tamkeen will subsidise 80% of the cost, with the remaining 20% covered by the companies. The companies served under the scheme have up to 2 years to utilise their grant amount.
Commenting on the announcement, H.E. Shaikh Mohammed bin Essa Al Khalifa, Tamkeen Chairman and Acting Chief Executive Officer, said, “The Mega Enterprise Support Scheme is a unique programme which caters to the special needs of private sector mega enterprises, and exemplifies our continuous efforts to create more flexible programmes to better serve all private sector segments.”
The support is linked to several KPI’s which will be monitored and then assessed once the programme is completed, in line with Tamkeen’s focus on enhancing quality, being more customer-oriented, and achieving results in order to address the ever-changing dynamics of the market. These include hiring and training to Bahrainis staff, and the measuring the impact of the support on the companies’ commercial activities in Bahrain and abroad.”
Commenting on the occasion Nass Corporation Chairman Mr. Sameer Abdulla Nass said, “As an active player in the construction and industrial sectors, we endeavor to continually exceed our client’s expectations through the consistent delivery of product, and service excellence. Hence we are extremely pleased to having been given the opportunity by Tamkeen to strengthen our efficiency and production capability at the Hidd manufacturing facility for Nass Industrial Services. We are delighted to continue to support and participate in the growth and development of the local industry.”
The 5 companies to be served under the Mega Enterprise Support Scheme include: The Nass Corporation, Yousif Khalil Almoayyad & Sons Co., Ahmed Mansour Al-Aali Co., Ebrahim Khalil Kanoo Co., and Mohammed Jalal & Sons Co. The total number of people employed by these companies is just under 28,000 employees.