Bahrain studies Economic City proposal
Manama, January 24, 2012
Industry and Commerce Minister Dr Hassan Fakhro chaired a meeting where a feasibility study was presented for a proposed Economic City, which is the brainchild of His Majesty King Hamad.
Attending the meeting were representatives from the Economic Development Board, the Public Commission for Protection of Marine Resources, Environment and Wildlife, the Bahrain Chamber of Commerce and Industry, the General Directorate of Urban Planning, as well as representatives of companies which have industrial projects in Bahrain and Industry and Commerce Ministry officials.
A presentation was made by Arthur D Little company, who prepared the study.
The Minister stressed the importance of the study with respect to the medium and long-term economic future of the kingdom and thanked the participants for their comments and suggestions during this and previous meetings that had led to the study taking its present form.
The presentation given by Arthur D Little representative Samir Anis touched on issues covered in the feasibility study and the aims of the project, which he stated were in line with Bahrain Economic Vision 2030.
He discussed the impact of the proposed development on Bahrain's economic status and challenges that must be overcome.
He highlighted the paradigm shift that was required to achieve the Economic Vision 2030 and how the proposed Economic City would help in achieving it.
The proposed city aims primarily at economic development and to enable the nation to compete internationally in attracting foreign capital and investment by creating the required infrastructure to a high international standard and developing regulations in line with global trends.
One of the main criteria is to provide much-needed land for industrial activities, which will result in many new job opportunities as well as increasing Bahrain's competitiveness.
The city is planned to be a fully-integrated, sustainable economic city with world class infrastructure and is responsive to the environment while providing a high standard of living.-TradeArabia News Service