Bahrain's Tamkeen signs deal with AIAC

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Bahrain - Tamkeen has signed a new strategic co-operation agreement with the American Industrial Acquisition Corporation (AIAC).

A specialist in company turnaround, mergers and acquisitions, and improving non-performing enterprises, AIAC also enables enterprises that are performing below their full potential.

AIAC brings decades of turnaround expertise and will provide advisory support as part of Tamkeen’s recently launched ‘Business Turnaround’ programme.

Its aim to empower enterprises to transform their business models in response to major organisational, market, technology and financial challenges and opportunities.

‘Business Turnaround’ is among 16 programmes, launched by Tamkeen as part of an organisation-wide strategic transformation plan which focuses on creating greater impact for the national economy in response to market needs.

Husain Rajab, chief executive of Tamkeen emphasised the organisation’s commitment to empowering enterprises in Bahrain and helping them become key contributors to the national economy.

He said: “The effect of supporting productivity and sustainability of private sector enterprises will generate positive impact for the national economy, further driving the national priorities outlined in the government’s economic recovery plan.”

The American Industrial Acquisition Corporation boasts over two decades of experience in turning around enterprises and enabling them to survive and thrive.

They are practitioners experienced in evaluating underperforming businesses and developing strategies tailored to their needs to enhancing productivity and success.

Also commenting on this initiative, Peter Graham, managing director and COO, Asia of AIAC, said “We are very impressed with the strategic vision of Bahrain’s government and the mandate of Tamkeen to empower Bahraini individuals and private sector enterprises. It is a great initiative by Tamkeen to tailor programmes and build partnerships for enterprises in all sizes and through all their development stages.”

Earlier this year Tamkeen embarked on a strategic transformation journey that encompassed the entire organization and resulted in the launch of a line-up of objective-driven support programmes and a transparent and enhanced assessment process. The new programmes were developed following a series of consultation sessions with representatives from various sectors and thus cater to the market requirements.

The transformation initiative focuses on creating greater impact for the national economy in response to market needs. Tamkeen will continue to launch programmes and initiatives that serve its main mandate of empowering Bahrainis to become the first choice of employment and enabling private sector enterprises to be key drivers of economic growth.