The Bahraini Ministry of Industry and Commerce has announced that registration is now open for Saudi establishments wishing to participate in the Local Value Program in Industry (Takamul).
The program, which is a key initiative of Bahrain’s Industrial Sector Strategy (2022-2026), aims to enhance the “In-Country Value” (ICV) of industrial products and improve supply chain efficiency.
Abdulla bin Adel Fakhro, the Minister of Industry and Commerce, emphasized the importance of this initiative in strengthening the long and deep-rooted strategic partnerships between Bahrain and Saudi Arabia, highlighting the strong support from both governments and their leaderships to the different joint programs and initiatives.
Adel Fakhro noted that this positive development emanates from the outcomes of the third meeting of the Saudi-Bahraini Coordination Council, chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, and His Royal Highness Prince Mohamed bin Salman bin Abdulaziz Al Saud, the Crown Prince and Prime Minister of Saudi Arabia.
The minister explained that the initiative reflects the commitment to reciprocity for products manufactured in both countries, where Bahraini products are treated as Saudi products in local government procurement in Saudi Arabia. By participating in the Bahraini (Takamul) program, Saudi establishments can work towards achieving a 75 percent ICV, which qualifies them for a certificate granting a 10 percent preference in future government tenders in the Kingdom of Bahrain.
Saudi establishments wishing to register for the program, may apply through the website of the Ministry of Industry and Commerce in Bahrain.
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