Tamkeen Partners with AstroLabs to Expand to Saudi Arabia

The Labour Fund (Tamkeen) has entered into a strategic partnership with AstroLabs, a prominent business expansion platform in the Gulf region, to launch the Overseas Expansion Program. This initiative is designed to encourage Bahraini business owners of all scales to expand their operations into Saudi Arabia, a lucrative market for diverse products and services. The partnership was unveiled during Tamkeen’s participation in the “Biban 24” forum, organized by Saudi Arabia's General Authority for Small and Medium Enterprises (Monsha’at) from November 5 to 9 in Riyadh, under the theme “A Global Destination for Opportunities.”

Focus on Bahraini Entrepreneurs Seeking Regional and Global Growth

The Overseas Expansion Program aims to empower Bahraini entrepreneurs by providing the support they need to venture into regional and international markets. This includes specialized advisory services that cover essential areas such as understanding local regulations, navigating market entry requirements, and implementing targeted marketing strategies to maximize visibility and success in new markets. Participants will gain access to an extensive network of potential partners, customers, and suppliers, helping them establish essential connections for successful expansion.

Strategic Vision from Tamkeen Leadership

Her Excellency Ms. Maha Abdulhameed Mofeez, Chief Executive of Tamkeen, emphasized the program's role in offering a structured path for Bahraini entrepreneurs ready to elevate their businesses by tapping into Saudi Arabia’s rapidly expanding market. This initiative aligns with Tamkeen’s 2024 strategic priorities, which focus on generating economic impact by increasing private sector engagement, promoting job creation, fostering career development opportunities, and driving productivity and technology adoption within Bahraini enterprises.

She added, “The Overseas Expansion Program is one of our initiatives aimed at supporting private sector companies in line with the Kingdom’s efforts to encourage the expansion of Bahraini businesses and the export of Bahraini products and services. Through effective partnerships in the program led by experts and specialists in the target market, participants will be able to minimize potential risks and enhance the chances of success for their business expansion and growth.”

On this occasion, Mr. Roland Daher, Chief Executive of AstroLabs, expressed his pleasure in this collaboration and added, " Bahrain has always been home to ambitious, innovative companies with real depth, ready to take the next step in their growth journey. Today, expanding to Saudi Arabia has become the natural next move in this evolution, offering an expansive and rapidly growing market, right next door. AstroLabs has been the trusted partner for over 650 global companies expanding into Saudi to date, and we’re very excited to collaborate with Tamkeen, a long-standing key driver of Bahrain’s entrepreneurial success. As a partner of choice for government entities across the region and globally, we focus on building strong growth corridors and seamless soft-landing experiences, helping high-growth businesses –whether Bahraini or global– thrive in Saudi Arabia."

Aiming to Develop and Expand Bahraini Companies in Saudi Arabia

The Overseas Expansion Program is expected to assist approximately 30 Bahraini companies in establishing a presence in the Saudi market, with a particular focus on the Eastern Region and the major commercial hubs of Jeddah and Riyadh. By supporting these companies, the program seeks to enhance Bahrain’s economic footprint in the region and create new growth opportunities for local businesses.

AstroLabs' Role in Promoting Regional Business Expansion

AstroLabs is dedicated to facilitating the growth and expansion of international businesses in the Gulf region. Having supported nearly 1,650 companies in entering Gulf markets, particularly Saudi Arabia and the UAE, AstroLabs brings valuable expertise in guiding companies through the intricacies of new market entry. Working with both public and private sector partners, AstroLabs designs programs to encourage innovation, address market gaps, and support sustainable development goals, including Saudi Arabia’s Vision 2030.

This partnership between Tamkeen and AstroLabs reflects a shared commitment to fostering economic growth, supporting Bahraini enterprises, and enhancing regional collaboration for sustainable development.