In cooperation with the Bahrain Chamber of Commerce and Industry, the Ministry of Industry and Commerce, organized a joint event to discuss the latest developments in the industrial sector during the year 2023.
H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, stressed the keenness to continue developing promising sectors in the Kingdom of Bahrain, including the industrial sector. In addition to providing the necessary support for the growth and sustainability of this sector due to its role in advancing comprehensive development in line with the Industrial Sector Strategy (2022-2026).
His Excellency praised the role of the private sector and the importance of strengthening partnership with it to accelerate the pace of investment, especially in light of the prosperity of the industrial system which receives full support from Bahrain, which is characterized by its fertile environment for establishing projects, and an ideal export terminal that resulted in a number of positive indicators.
For his part, Dr. Khaled Fahad Al Alawi, Assistant Undersecretary for Industrial Development at the Ministry of Industry and Commerce, gave a presentation that included the most prominent statistics related to the industrial sector during 2023, which portrayed positive growth, pointing to the most important incentives and enablers that the Ministry of Industry and Commerce launched according to the industrial sector strategy (2022-2026), and reviewing the most important investment opportunities in the pharmaceutical industries, renewable energy industries, downstream petrochemicals, manufacturing aluminum, food industries, and semiconductor industry.
Moreover, the event showcased details of the program to promote sustainable industrialization (green factory labeling) in partnership with the private sector, which was announced during the Kingdom of Bahrain’s participation in the Conference of the United Nations Framework Convention on Climate Change (COP28), and highlighted the Industrial Investment Guide, which is considered the first reference for industrial investment in the Kingdom, in addition to reviewing the evaluation mechanism developed for applications for allocating industrial plots. The event also included an awarding of the first graduated batch of twenty individuals who completed the required training hours to be accredited as evaluators of the "iFactories" initiative, aimed at supporting the transformation of the industrial sector towards the Fourth Industrial Revolution in cooperation with the Labour Fund (Tamkeen).
