Global honour for Bahrain Logistics Zone
Manama, June 26, 2010
The Bahrain Logistics Zone (BLZ) has been ranked ninth among the top 25 best "future duty free zones" in the world, according to a survey.
The rankings featured in a global report on "best future free zones 2010-2011" by the Foreign Direct Investment magazine as part of the Times Group for Financial Works. The report surveyed 700 free trade zones from all over the world.
The same global survey ranked Bahrain International Airport and the Bahrain International Investment Park (BIIP) as 13th and 24th respectively.
The BIIP, the BLZ and the airport have also been ranked second, third and 10th respectively in the list of "best world facilities".
The rankings reflect Bahrain's important status as a gate to the trillion-dollar GCC market, said a top official.
Economic Development Board (EDB) chief operating officer and Bahrain Airport Company chairman Kamal Ahmed described the outstanding achievement as reflecting Bahrain's firm commitment to provide a business-friendly environment for leading world firms to operate.
He also highlighted the importance of undertaking prudent investment schemes in such zones.
General Organisation of Sea Ports (GOSP) chairman Shaikh Daij bin Salman Al Khalifa hailed the performance, which acknowledges Bahrain's logistic facilities.
"The achievement consolidates Bahrain's status as a pioneering country and key hub in the Arabian Gulf in the sector of logistic services," he said.
A joint EDB-GOSP delegation visited Prague, the capital of the Czech Republic, to outline Bahrain's logistic record in the annual European Supply Chain and Logistics Summit 2010.
The BIIP has attracted 74 projects as of last month worth $870 million, of which 28 were foreign investments, the Industry and Commerce Ministry said.
This has resulted in creating 8,540 jobs. The investments are expected to reach $1.1 billion, it added.-TradeArabia News Service