Mumtalakat Company, a major player in Bahrain’s economy, has shown significant support to the national budget in recent years. Minister of Transportation and Telecommunications, Mohammed Al Kaabi, disclosed that between 2017 and 2024, Mumtalakat has contributed a total of BD200 million, with BD100 million allocated in the last three years alone. This support has been crucial in bolstering the general budget, as highlighted in response to a parliamentary query from MP Mahdi Al-Shuwaikh.
Not only has Mumtalakat shown commitment in financial support, but it has also been instrumental in job creation in Bahrain. The company has been generating thousands of job opportunities annually, with 12,000 jobs created in 2022 alone, benefiting Bahraini citizens. Additionally, Mumtalakat’s investments have contributed over 8% to Bahrain’s GDP in 2022, significantly boosting economic growth in the country.
Despite facing challenges in some assets, Mumtalakat continues to strive for financial success. The Minister of Transportation and Telecommunications noted ongoing efforts to finalize the company’s 2023 financial statements. A comprehensive evaluation based on consolidated data is seen as imperative to ensure continued success and growth for Mumtalakat in the future.
In the face of global challenges, local enterprises like Alba have reported positive financial results, showcasing resilience amid adversities. Mumtalakat’s continued support to the national budget and its contributions to job creation and economic growth highlight the importance of public-private partnerships in driving Bahrain’s economy forward.
Overall, Mumtalakat’s fiscal support, job creation efforts, and contributions to Bahrain’s GDP underscore the company’s pivotal role in the country’s economic development. By partnering with government entities and investing in key sectors, Mumtalakat continues to play a vital role in shaping Bahrain’s economic landscape and ensuring sustainable growth for the future.
