MANAMA, Bahrain, June 17, 2011 /PRNewswire-USNewswire/ -- Bahrain's retail sector is steadily regaining its strength, reaching 70 percent of its former trade after experiencing a decline during February and March, Bahrain's Chamber of Commerce and Industry (BCCI) states.
"We have been busy picking up the pieces and have done well, thanks to government efforts, but as traders we also need to hammer out solutions by taking tough decisions," BCCI Retail and Traditional Markets Committee Head Jawad Al Hawaj said.
A number of BCCI initiatives are aimed at providing these solutions, including a new focus on small and medium enterprise support. BCCI is working with banks to secure loans for the smaller scale shops and ease required procedures. The organization has also bargained with landlords on retailers' behalves to lessen rent burdens.
"There was an issue with rents, but most landlords have agreed to either postpone collections or waive rents for a few months," Al Hawaj said.
In addition, retailers are looking to next month's festival to spark trade even further.
"Many traders rightly have reservations but we are offering suggestions and incentives for them to take part. We all have a lot of expectations from the July events."
Plans to rework Bahrain's City Center infrastructure are also on the table.
SOURCE Kingdom of Bahrain
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