New industrial city to boost Bahrain’s economy
Manama, June 21, 2012
Bahrain's new economic industrial city should be up and running by 2040 and make a major contribution to the kingdom's economy, creating job opportunities for citizens, said a senior government official.
Industry and Commerce Minister Dr Hassan Fakhro revealed this as he chaired a key meeting yesterday (June 20) to review the latest developments on the planned city.
It reviewed the latest update on the economic city project, in the presence of representatives from Arthur D Little, the company charged with preparing the study, and ministry officials.
The study puts all the requirements and arrangements related to the project within an integrated vision.
It includes the cost and land space required and other details to ensure that it achieves His Majesty King Hamad's vision to develop this major city.
The city aims primarily to develop the economy and enable the kingdom to compete internationally in attracting foreign capital and investment.
This will be achieved by creating high-level infrastructure and developing regulations in line with global trends.
It will also provide land for industrial activities, which will result in many jobs, as well as increase the kingdom competitiveness with neighbouring countries.
The city will include world-class industrial, commercial, residential, recreational and other facilities.
The vision will be to create an economic city which is unique with world-class infrastructure which will encourage investment and provide a high standard of living.
Dr Fakhro said the city will be unique in the region and will be a hub for business through its varied economic activities.
“Co-operation between the public and private sectors in planning and designing the project will have a great impact on its success,' he added. – TradeArabia News Service