On the sideline of the Gateway Gulf, the Minister of Industry, Commerce & Tourism Mr. Zayed R. Alzayani met Mr. Oscar Chow the Honorary Consul of the Kingdom of Bahrain to Hong Kong at the Four Seasons Hotel.
During the meeting, the minister praised the outstanding efforts undertaken by the Honorary Consul of the Kingdom of Bahrain in Hong Kong in enhancing bilateral economic relations between the Kingdom of Bahrain and China in general and Hong Kong in particular; In addition to his efforts in promoting investment opportunities and reviewing the attractive economic environment in Bahrain.
On the sideline of the Gateway Gulf, the Minister of Industry, Commerce & Tourism Mr. Zayed R. Alzayani met with the President of NHA Company Mr. Gang Yang at the Four Seasons Hotel.
During the meeting, the minister affirmed that the Kingdom of Bahrain welcomes all investments that contribute to raise the economic growth rates and investment attraction especially in light of government and Ministry orientations and strategies to develop legislations and procedures related to various commercial and investment activities to achieve Bahrain Economic Vision 2030.
It should be noted that NHA is a global company with origins in China and has assets across airlines, hotels, financial services, and technology and logistics sector in China and around the globe.
On the sideline of the Gateway Gulf, the Minister of Industry, Commerce & Tourism Mr. Zayed R. Alzayani met Mr. Kush Choksy, Senior Vice President for Middle East and Turkey Affairs of the US Chamber of Commerce.
During, the meeting, the Minister stressed the importance of such meetings in enhancing joint action and mutual cooperation between all concerned parties in the Kingdom of Bahrain and the United States of America, in order to develop these relations to achieve the common objectives and ambitious strategies of the two countries.
The minister praised the role played by the US Chamber of Commerce with the Bahraini side in all joint activities, and its role in enhancing economic relations between the two friendly countries.
The Minister of Industry, Commerce & Tourism Mr. Zayed R. Alzayani affirmed that there are investment projects worth over $32 billion and tourism is an important part of that. The came during an event was in the sideline of Gateway Gulf Investment Forum, where the minister participated as the official speaker in the second panel discussion under the title "Real estate & tourism,”. The panel was led by Mr. John Defterios of CNN Money.
The Minister touched a number of topics including the construction sector in Bahrain is strong and growing where hotels and restaurants witnessed annual growth 9% and 5.5% growth year on year for real estate and business activities in 2017. In addition to the newly established RERA is very important to making Bahrain a premier real estate investment destination across all segments. The establishment of RERA complements previous efforts to attract foreign and private investment into the property market. In 2016, Bahrain allowed overseas investors 100% ownership in real estate. The minister also talked about Bahrain's Tourism strategy that aims to build on the tourism fundamentals of Access, Accommodation, Attractions and Awareness through causeway development and airport expansion. He added that the country is already well positioned in tourism and has a strong starting point for future growth.
The Minister also reviewed a number of future tourism projects such as durrat Crescent & Dawn, Bilaj Al Jazayer, Al Naseem, Al Maydan Mall, Hasabi and Hawar Island.
As part of the Gateway Gulf Investment Forum, which is being held under the patronage of HRH Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister and Chairman of the Bahrain Economic Development Board, the Minister of Industry, Commerce and Tourism Mr. Zayed R. Alzayani participated in the discussion panel under title of “A New Gulf Paradigm”. The panel moderated by Richard Quest from CNN News Network.
During the panel, they discussed number of issues related to the role of governments and the private sector in developing and shifting the GCC economies. In addition to the need of the private sector to lead this new change in the region and the challenges facing investment in the GCC countries; and the success achieved by these countries in developing their economic systems. This reflects in the economic reality and growth witnessed by some economic sectors. And the oil prices resulted GCC tendency to develop and activate other economic sectors and attract more international companies and modern technology.
The panel was attended by, Minister of Commerce and Industry of Kuwait HE Khalid bin Nasser Al Rowdan, Jassim Alseddiqi from Abu Dhabi Financial Group and Mohammed Alshaya from Alshaya Group.
Manama, 7th May 2018 – Under the patronage H.E the Minister of Industry, Commerce and Tourism, Ariston Thermo today inaugurates a new production plant at the Bahrain International Investment Park. The ceremony attended by H.E. Domenico Bellato, Ambassador of Italy to the Kingdom of Bahrain and Dr. Carlo Andreatini, Ariston Thermo Rapid Development Countries and Americas Director.
H.E. Zayed R. Alzayani, Minister of Industry, Commerce and Tourism said: “We are very pleased to welcome Ariston Thermo to Bahrain. The selection of BIIP for Ariston’s first manufacturing facility in the region demonstrates the quality of the location and the competitive advantages which Bahrain has to offer to global companies.” Alzayani stated that “This project was an important one for Bahrain as it met several key objectives, enabling the growth and diversification of Bahrain’s economy, as well as creating quality skilled jobs for Bahrainis in the fields of engineering and business. The Ministry and Ariston are partners for the long-haul and the Ministry will do everything in its capacity to provide the right support to facilitate the company's success.”
Commenting on the inauguration, H.E. Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board, said: “Ariston Thermo’s new plant is a truly welcome addition to the Bahrain International Investment Park. The plant’s opening is a clear indication of the vast potential and advantages that the manufacturing industry in Bahrain provides, and further reinforces the Kingdom’s position as the ideal hub to meet growing regional demand.
“When we were in Italy last year I was struck by how much interest there was from businesses there in the GCC opportunity, so I am delighted to be able to welcome Ariston Thermo to the region.”
The new plant, located in a total area of 7,000 square meters and employing 50 people, will manufacture storage electric water heaters branded Ariston that will be mainly marketed in the Middle East and North Africa. The new plant provides a maximum annual production capacity of up to 250,000 electric water heaters.
The new production site in Bahrain will be in line with the sustainable model of the Group, at the forefront of innovation and in respect of the environment.
“I would like to warmly thank all the Kingdom of Bahrain authorities for the welcome and the support received” - commented Carlo Andreatini, Ariston Thermo Rapid Development Countries and Americas Director - “With this new production site in Bahrain we aim to strengthen our presence in this area, where Ariston brand is already leading the water heating category for many years. Keeping production close to the most important markets is indeed a key pillar of our Group’s growth strategy that allows us to better and promptly respond to the specific needs of our customers.”
The Undersecretary of Commerce Affairs Mr. Nader Al Moayyed opens the International Women's Day Exhibition. The exhibition is organized by the Savings and Loaning Society of the Ministry, Takafo’a Committee in coordination with Supreme Council for Women and the Financial Harbour Company. A number of institutions, commercial companies and productive families participated.
The Minister of Industry, Commerce and Tourism Mr. Zayed R. Alzayani received Chairman of the Bahraini side of Bahraini-Iraqi joint Business Council Mr. Khalaf Hujair.
During the meeting, the minister reviewed a number of topics related to economic affairs and the development of the commercial sector in the Kingdom of Bahrain, pointing to the importance of this sector and its role in stimulating trade movement in the country. He also stressed the continuous support of the leadership and the government for the private sector as a partner in the economic growth.