Bahrain’s Labour Fund (Tamkeen) has announced its support for YAS Factory’s expansion, which will employ 40 Bahrainis and increase factory production, expanding exports in the region.
This move is in line with the objectives of the Economic Recovery Plan and Tamkeen’s strategic direction to support local expansion, boost productivity, and incentivize key economic sectors.
Since 2012, YAS Holding operates through its subsidiaries including The Closets International and YAS Factory with showrooms located across the Gulf region. The company specializes in designing, manufacturing, and distributing wooden furniture using premium raw materials.
According to the statement, the new production line is expected to reduce raw material imports, increase the employment of Bahraini talent to 40 additional employees, and raise its export capacity to neighbor markets.
“Supporting local enterprises in the rapidly growing manufacturing sector creates high-value sustainable job opportunities for Bahrainis, as well as positions the Kingdom as a manufacturing hub that serves both local and regional markets, thus strengthening the competitiveness of the “made in Bahrain” label on a global scale and driving sustainable economic growth in the Kingdom.”
The manufacturing sector contributed to approximately 14 percent of Bahrain’s real GDP in 2021, making it the second-largest non-oil sector. The sector is also the third largest employer in the labor market, employing 11 percent of the total workforce in the private sector.
“Tamkeen’s support for YAS Factory is in line with the Industrial Sector Strategy (2022-2026) which was announced as part of the Kingdom’s Economic Recovery Plan and aims to increase the contribution of the industrial sector to the national GDP, as well as increase industrial local exports and create quality job opportunities for the national workforce,” as per the statement.
On this occasion, Mr. Ali Al Haddad, Managing Director at YAS Holding said that, “We appreciate Tamkeen’s support for our growth and expansion plans. With their support, YAS Holding was able to increase its production and expand its outreach by opening showrooms in neighboring countries.”
“We now aspire to further expand and develop, by employing national talent and presenting more Bahraini products to regional and international markets,” Mr. Al Haddad added.