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Bahrain’s business back on track, say leading Bahraini businesswomen
05 : 14 PM - 05/05/2011

By: Wa'ad Al shaikh & Mariam Zainal

Manama, May, 5 (BNA) -- The Kingdom of Bahrain has been playing a vital role in shaping a convenient society for Bahraini women to excel. Openness is one of Bahrain’s features that paved the way for its women to shine, since the female element has received special attention that empowered Bahraini women to occupy vital positions in various fields.
This topic particularly targets those highly affected in the business sphere, Bahrain News Agency (BNA) was able to gather the comments of prominent Bahraini business women regarding affects and new implemented measures and resolutions for business recovery.

Member of the Bahrain Chamber of Commerce and Industry (BCCI) and Head of Information Committee of Bahrain Businesswomen’s Society, Ms. Ahlam Janahi told BNA that the small and medium enterprises (SMEs) holds almost 90% of Bahraini market, she noted that the recent unrest witnessed by the kingdom businesses were affected badly since last February up to this date, she further noted how businesses were successful in recovering from last year’s financial crisis but were forced to deal with newer obstacles and difficulties.
Ms. Janahi also explained that governments efforts of deferring loans installments collected by banks and programs such as Tamkeen were very essential in helping and enabling SMEs recovery, as well as many other active efforts taken by the government in aiding those affected from the business sector, adding that the kingdom’s economy is at a stage where long term recovery strategies should be evaluated and implemented to assure a brighter future for the development of the Kingdom.
Ghada Al Sayed, Head of Woman Gateway Committee of Bahrain businesswomen’s society the Interior Designer was kind enough to share her thoughts on how the economy and businesses has not yet fully recovered from last year’s global financial crisis, add to that the recent unrest in the Kingdom which affected them severally. In order to cope with such crisis that caused high losses and reducing of several projects proportions, many employees were discharged with aims of downsizing her organization.
Consequently, new measures and strategies were implemented with objectives of minimizing expenses to the lowest possible. "We need to lay low, endure and be very patient" Ms. Al Sayed said.
Throughout the years, Bahrain developed the highest reputation of corporate, construction and building procedures, "We’re different here in Bahrain" Ms. Ghada noted, whether through adopting British standards for electricity or American standards regarding environment, the Kingdom has Construction of High performance standard Guides and its very strict with implementing them.
However, it will take some time until organizations would completely recover losses, business owners and executive managers need to select projects with high rates of return on investment (ROI) because they cannot afford to wait for long term profits.
Ms. Al Sayed is optimistic with the brighter future and healthy environment that awaits Bahrain, "We’re the builders of this country and together we can change to the better" she confirmed.
Another leading Bahraini business woman Ms. Rania Sayyar further explained how her business was affected, the location of their showroom was an obstacle that prevented staff as well as customers from reaching it. Many orders by debtors were canceled which led to access inventory that was hardly distributed among GCC countries.
Ms. Sayyar expressed her gratitude towards the government’s efforts in facilitating the recovery of business crisis, especially the noble stand by LMRA in exempting labor fee for a couple of month which helped a lot. "Presence of the government is by itself a significant indication that Bahrain’s business will soon be back on track" Ms. Sayyar said.
The business women agreed on having a positive outlook towards the future that was generated by the efforts of the governments.
They all had a unified belief that the governments presence by itself helps in the recovery of the business sector.

MYZ / WOA

MYZ

BNA 1351 GMT 2011/05/05


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