Bahrain supports industrial sector

Agencies | Amman                                          

The Daily Tribune – www.newsofbahrain.com   

The government is committed to supporting the industrial sector in Bahrain being one of the promising industries in the economic recovery plan.

This was affirmed by Industry and Commerce Minister Abdulla Fakhro as he stressed the importance of this sector in supporting the goals of comprehensive development march led by His Majesty King Hamad bin Isa Al Khalifa, with the support of HRH Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.

This came as the minister headed the delegation of the Kingdom to the meetings of the Executive Committee and the Higher Committee for Integrated Industrial Partnership for Sustainable Economic Development, held in Amman, Jordan, from February 25 to 26, in the presence of Their Excellencies the Ministers of Industry of the UAE, Jordan and Egypt.

Fakhro said that Bahrain’s accession to the partnership contributed to enhancing the industrial sector with over 10 proposals for industrial projects at an estimated value of over $ 2 billion, which reflects the awareness of the private sector of these opportunities that follow the industrial sector strategy (2022-2026) in achieving industrial integration.

He added: “Perhaps the opportunities of this partnership lie in the industries the Kingdom of Bahrain is entering for the first time, such as the electric car industry, which we are proud of, in addition to the development of modern technologies in the fields of pharmaceutical industries.”

Partnership

GARMCO CEO Mohammed Rafi said: “The integrated idustrial partnership has provided a golden opportunity for our factory in the midst of its restructuring, as the supply agreement resulting from our partnership with the UAE’s “M Glory” ensures the continuity and sustainability of the company.”

He noted that the factory is currently studying other investment opportunities under the partnership to complete the value chain for the manufacture of electric vehicles.

Nizar Adwan, “Alpha Biotech” CEO, stated that the interest of the Ministry of Industry and Commerce in the industrial sector in light of the ambitious strategy has opened broad horizons for SMEs’ growth and sustainability, noting that Bahrain’s accession to this partnership opens billion-dollar worth markets outside the borders and opportunities to replace imports from the partnership countries.

Dr Waqar Ahmed, Managing Director of Gulf Biotech, expressed the company’s commitment to improve the healthcare sector by developing and providing a wide range of vaccines in key markets, and that the project will contribute to meeting the needs of the region and its self-sufficiency. The meeting included the announcement of a number of projects resulting from partnerships.