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BCCI push to promote Bahrain as business hub

Manama, April 27, 2014

Bahrain Chamber of Commerce and Industry (BCCI) chairman Khalid Almoayed has called for promoting the kingdom as an investment hub at various regional and international gatherings.

He was speaking ahead of the historic visit by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, First Deputy Prime Minister and chairman of the Economic Development Board (EDB), to Russia.

Almoayed said the focus should be on developing ideal investment environment for economic activities, reported the Gulf Daily News, our sister publication.

He lauded the efforts by HRH the Crown Prince to enhance the kingdom's relations with friendly and brotherly countries, especially in the economic field, and inform the international business community about the opportunities in Bahrain, noting that such efforts will consolidate its competitive potentials in attracting investments and promote it as a business-friendly country.

Almoayed said HRH the Crown Prince's visit to Russia would strengthen solid bilateral ties and build on the positive results of the historic visit of His Majesty King Hamad to Russia in 2008.

"Strengthening Bahraini and GCC relations with Russia would benefit all sides, noting that the Crown Prince's visit will create new areas of bilateral co-operation and come up with mechanisms to develop them, particularly exchange of information and expertise in the economic and investment fields," stated Almoayed.

"The visit would provide an opportunity to discuss partnerships between Bahraini and Russian investors, showcase the export potentials of each country, discuss ways of increasing the volume of bilateral trade, address the obstacles facing efforts to develop economic relations and agree on the necessary mechanisms to set up trade and investment relations with Russian companies to have more access to their market," he added.

He said a BCCI delegation would accompany HRH the Crown Prince and submit proposals on ways to upgrade economic and trade relations with Russia, including starting direct flights between the two countries, promoting regular maritime trade routes, making Bahrain a gateway for trade between Russia and other countries of the region focusing on import, export and re-export trade and transit trade, developing co-operation in the investment, technical and economic fields, and activating the economic and trade agreements signed between the private sectors of the two countries.

Almoayed said the BCCI will discuss co-operation in industrial, investment and services fields.

"In the industrial sector, the two countries will discuss co-operation in communications, information technology, aluminium, engineering, construction materials, pharmaceutical industry, biological applications, management of water resources, food packaging, tourism and oil equipment," .

"In the investment sector, the two countries will discuss co-operation in oil, gas and energy, infrastructure projects and public and private industrial projects."

As far as investment in the services sector is concerned, Almoayed said co-operation in the health care sectors, service technology, trade, financial and banking services, human resources development, training and education in the fields of information technology and projects management, tourism and food security would be highlighted.

He praised the EDB for inviting the BCCI to join the delegation vowing to spare no efforts in promoting the kingdom's positive business and investment image locally and outside the kingdom.-TradeArabia News Service




Tags: Bahrain | business | chamber |

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