Monday 20 November 2017

HRH the Premier and other dignitaries at the Bapco stand.

Industrial sector holds key to growth: Premier

MANAMA, February 7, 2017

Industrial investments play a crucial role in supporting Bahrain’s economic development and spurring growth and the government is committed to supporting the sector, said His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa.

He underlined the importance of the GCC’s complementary economies in generating more investment opportunities to set up mega industrial projects.

“The Government relies on industrial investment, which represents one of the viable tools to diversify the sources of revenues and generate jobs,” he said after opening the 2017 Gulf Industry Fair (GIF) this morning.

Hilal Conferences and Exhibitions (HCE) is organising the three-day event, which is being held at the Bahrain International Exhibition and Convention Centre (BIECC).

The Premier reiterated the government’s keenness on providing the necessary environment and facilities to ensure the development and growth of local industries.

“The government supports all initiatives that contribute to consolidating complementary GCC industries,” the Premier said.

“The GCC states have all the capabilities to expand the scope of their industrial products in the regional and international arenas,” he added, underscoring the importance of private-sector exhibitions in promoting national products and the Gulf’s industries.

He said that the government has adopted policies which support the industrial sector, which plays a crucial role in fast-tracking trade and economic development and attracting domestic and foreign investment.

After cutting the ribbon, the Premier toured the various pavilions showcasing the latest industrial products and equipment.

He stressed the importance of the GCC’s efforts in developing strategic industries and manufacturing capabilities, which represent a key pillar of their economies.

“The current economic challenges require more industrial investments, as a strategic alternative to achieve sustainable development for the GCC nations,” he said.

He revealed that Bahrain had long ago started legislating modern business laws and taking the necessary steps to create a business-friendly environment and encourage investors who choose Bahrain as their first option to set up projects.

He acknowledged the importance of the fair which, he said, represents annual platform for large companies to display their products and benefit from Bahrain’s strategic location as a pioneering investment hub in the region.

Industry, Commerce and Tourism Minister Zayed bin Rashid Alzayani thanked the Premier for patronising the pivotal exhibition which, he said, puts Bahrain on the international map of specialised exhibitions.

He reiterated the government’s drive to attract investments from all over the world and embrace cutting-edge technologies through such high-profile exhibitions, stressing that no effort would be spared towards developing the industrial sector and boosting its contribution to economic growth.

He underlined Bahrain’s Economic Vision 2030 and other national strategies which focus on the private sector as the engine for economic development and growth.

HCE chairman Anwar Abdulrahman thanked the Premier for patronising the exhibition, which he said contributed towards attracting more exhibitors to the event. He paid tribute to the Premier for supporting all efforts to promote the national economy, hailing his farsighted vision.

HCE managing director Jubran Abdulrahman also thanked the Premier for his patronage, and for providing a favourable environment to facilitate investment and boost the economy. - TradeArabia News Service

Tags: Bahrain | Gulf Industry Fair | Premier |

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