Manama : The Labour Fund Tamkeen announced its support for MAE Aircraft Management Company, a joint venture between Asia Cargo Network (ACN) and MENA Aerospace.
This collaboration is set to revolutionise the air cargo industry in the Kingdom of Bahrain, with ripple effects on the wider Middle East and North Africa region.
Tamkeen’s commitment extends to facilitating employment opportunities for qualified Bahraini pilots and aviation engineers within MAE Aircraft Management Company, reinforcing its dedication to empowering local talent. This partnership aims to bolster air cargo activities, foster regional growth, and strengthen ties with prominent air transport service companies and aviation service providers.
Through this initiative, Tamkeen seeks to create employment opportunities for Bahrainis in the Transportation and Logistics sector, a cornerstone to the national economy.
The Kingdom’s strategic location and historical reputation as a regional trade hub allows it to harness significant growth in this vital sector. In 2022, the Transportation and Logistics sector contributed 6.8% to the GDP, offering quality job opportunities for local talent.
“With the shipping and logistics sector being a key focus of the government’s economic recovery plan, we are pleased to support MAE Aircraft Management Company, which aligns with our vision to reinforce the Kingdom’s position as a regional hub for logistics services,” said Tamkeen Chief Executive Maha Mofeez on the occasion.
“Tamkeen’s support will allow Bahraini aviation graduates and engineers to benefit from training and employment opportunities in this growing field.”
This collaboration will allow MAE Aircraft Management Company to offer shipping companies in Bahrain access to advanced services, enhancing the efficiency and competitiveness of the local air freight market. The venture will drive increased demand across the supply chain and contribute to the overall prosperity of the logistics sector. With its role as a low-cost freight services provider, MAE Aircraft Management will also serve as a gateway to Asia Cargo Network’s operations in the Middle East. MAE Aircraft Management Company anticipates expanding its regional footprint, contributing to the 6.7% expected annual growth rate of the shipping services market in the Middle East and Africa region, which is expected to reach $27.8 billion by 2028.
“This joint venture between Asia Cargo Network and MENA Aerospace aims to boost the air freight sector in Bahrain and the wider region,” added Dr. Muhammad Jumaan, MAE Aircraft Management Company Board Member.
“We thank Tamkeen for their support and remain committed to investing in Bahraini talent, fostering professional development, and supporting national initiatives in the aviation sector. This project will positively impact the local economy and position Bahrain as a prominent regional logistics hub.”
This strategic partnership underscores the importance of the air cargo sector in Bahrain’s economic landscape. Tamkeen’s support is in line with its 2024 strategic priorities focused on economic impact and the private sector under three pillars: increasing economic participation through new employment opportunities for new entrants, expanding career development opportunities available to Bahraini workforce, and further developing the private sector by supporting enterprises and boosting productivity and the adoption of technology.
MENA Aerospace has previously benefited from Tamkeen’s Wage Increment Program, training 274 Bahrainis in the transportation and logistics sector.
