Three memoranda of understanding (MoU) were signed yesterday (October 29) in Shenzhen, China as the Bahrain business delegation continues its tour of China's principal commercial centres.

The 10-day visit by the Economic Development Board (EDB) began on October 23 in Beijing, passing through Guangzhou into Shenzhen, and will culminate in Hong Kong in two days' time, said a report in the Gulf Daily News (GDN), our sister publication.

An MoU was signed between the Bahrain Chamber of Commerce and Industry (BCCI) and the Shenzhen branch of the China Council for the Promotion of International Trade (CCPIT), aiming to promote economic and trade ties between Bahrain and China.

Chinamex and Senokski Petrochemical Corporation signed an MoU to jointly promote Bahrain Dragon City to prospective tenants.

Chinamex also signed an MoU with Shenzhen Mobile Communication Association to promote joint attraction of Chinese tenants to Bahrain Dragon City.

In addition, the EDB organised the Bahrain-Shenzhen Economic Investment Forum, the third forum hosted as part of the roadshow.

The forum showcased to potential investors the kingdom's favourable business environment.

The forum included panel discussions highlighting the overall Bahrain business environment and investment opportunities.

Central Bank of Bahrain director of licencing and policy Ahmed Al Bassam, Al Zayani Investments honorary chairman Khalid Al Zayani, Nass Group chairman Sameer Nass, Huawei Technologies Bahrain country manager and sales director Brad Sun Ke and EDB executive director of business development Vivian Jamal discussed the openness of Bahrain's economy during the first panel session.

During the second panel discussion Osool Asset Management Company chief executive Shaikh Abdullah bin Khalifa Al Khalifa, Bahrain Airport Company CEO Mohamed Al Binfalah, BFG International head and Mumtalakat Holding Company board member Dr Samer Al Jishi and Kuwait Finance House head of project development Osama Al Khaja spoke about the various investment opportunities available in Bahrain, in particular to Chinese investors.

The panel discussions were moderated by CitiBank Bahrain CEO Mazin Manna.

Bahraini businessmen and women, as well as private sector representatives held meetings with various Chinese companies on the sidelines of the forum.

During the meetings, organised by the EDB, Bahraini business delegates and their Chinese counterparts discussed means of mutual co-operation in trade and investment and potential partnerships and trade opportunities.

“Over the course of this visit, which follows and builds on His Majesty King Hamad's historical visit to China last year, the economic relationship between our two countries has been firmly cemented, thanks to a number of MoUs with important Chinese businesses and governmental organisations,” Transportation Minister and EDB acting CEO Kamal Ahmed said.

“These agreements will encourage more Shenzhen-based companies to invest in Bahrain and the EDB will in return ensure that those companies benefit fully from Bahrain's open economy and favourable business environment.”

While in Shenzhen, Ahmed also met Shenzhen government vice secretarial general Zhu Tingfeng, accompanied by members of the BCCI and a number of high-level businessmen from the delegation.

He also met with senior officials at the international headquarters of Huawei Technologies. The company uses its Bahrain office as its regional headquarters in the Gulf and employs over 500 professionals.

Ahmed and the delegation also met with Shenzhen vice-mayor Chen Biao and senior representatives of the Shenzhen government while members of the BCCI, led by first vice-chairman Othman Alrayes, met the CCPIT to discuss future co-operation opportunities.

The BCCI delegation included members Khalid Al Zayani, Khalid Al Amin and Abdulhameed Al Kooheji. - TradeArabia News Service