Chinese firms discuss Bahrain investment plans
Manama, June 18, 2014
Leading businessmen and trade officials from the Hunan Province in China met representatives from the Economic Development Board (EDB), as part of a four-day visit to Bahrain.
The delegates were apprised of the kingdom's investment climate, advantages of setting up businesses in the country, as well as the national industrial policy, reported the Gulf Daily News, our sister publication.
Consisting of representatives from the Chinese Ministry of Commerce, Hunan Chamber of Commerce and Industry, the delegation has representation from specialised sectors in construction, new energy, and solar energy, as well as sectors that involve hardware.
The trip will include visits to the Bahrain Logistics Zone (BLZ) and Bahrain International Investment Park (BIIP) as well as other industrial zones.
This follows recent visits by a Chinese business delegation from Shenzhen city and an investment delegation from China Overseas Development Association (CODA) to the kingdom, who were both hosted by the EDB.
The Hunan Province is considered a prominent developing Chinese province, with the volume of exports and imports reaching $21.941 billion in 2012, an increase of around 15.5 per cent compared to the previous year.
The province's export of technological products has grown 75.8 per cent to $1.38 billion which currently makes up 11 per cent of its exports. Electronic and mechanical equipment exports from the province have also increased to around 42.6 per cent, reaching $5.09 billion, which represent 40.4 per cent of the total exports of the Hunan Province.
A number of leading Chinese companies including Huawei, Bank of China, China Harbour Engineering, Beijing Jangho Curtain Wall and Daily Wealth have established offices in the kingdom.
China is currently the third largest market for Bahraini exports outside of the GCC, and this year marks 25 years of diplomatic relations between the two countries.-TradeArabia News Service