Industrial City to help boost Bahrain economy
Manama, May 3, 2011
The new economic industrial city will play a major role in developing Bahrain's economy, Industry and Commerce Minister Dr Hassan Fakhro said.
The minister headed the fourth meeting of steering committee of new economic industrial city in the presence of Public Commission for Protection Marine Resources, Environment and Wildlife DG Dr Adel Al Zayani, Industrial Affairs acting under-secretary Osama Al Arrayed, Baitek CEO Nader Al Moayyed and GPIC president Abdulrahman Jawahery.
The meeting was saw the presence of Garmco CEO Dr Adel Al Rayes and representatives from Ministry of Finance, Economic Development Board, Electricity and Water Authority, National Oil and Gas Authority, the Ministry of Municipalities and Arthur D Little Company.
Dr Fakhro welcomed committee members wishing them success in their works.
A representative from Arthur D Little Company, Samir Anis, gave a presentation with a brief introduction to what have been covered already, and display the expected effects of the new industrial city on the kingdom's economic situation, especially in light Vision 2030 objective.
The third chapter of the presentation contains potential sites of the city based on certain criteria, followed by an explanation of how to implement the strategy of the new economic industrial city effectively and according to a specific programme.
The meeting also reviewed the risks facing the project and steps that should be taken to carry out the implementation.
The new economic city project aims to enable Bahrain to compete internationally and attract foreign investment by creating a high-level infrastructure and develop regulations with global trends.
It is also expected that this huge project will provide many direct and indirect jobs in the future.
The minister pointed out that this city will embrace a mixture of various activities that will play a crucial role in developing Bahrain's economy, confirming co-operation between public and private sectors in planning and designing process that will have an impact on the project's success.
Dr Fakhro also confirmed the leadership and government's interest in such ambitious projects that will boost Bahrain's economic position and development.-TradeArabia News Service