Industry, Commerce and Tourism Minister, Zayed bin Rashid Al-Zayani, participated in the panel session held as part of the 16th Arab International Mineral Resources Conference, hosted by the Fujairah Emirate, UAE.
A number of ministers took part in the panel session devoted to the mining sector and its contributions to countries’ national economies.
Addressing the session, the minister highlighted the industrial sector’s contribution to the kingdom’s GDP, which reached 14.4% in the third quarter of 2021, according to the report of the Ministry of Finance and National Economy.
He said that Aluminium Bahrain B.S.C. (Alba), the world’s largest smelter ex-China, set a breaking operational record in 2021, marking its golden jubilee of operations, adding that Bahrain was ranked 52nd in UNIDO’s Competitive Industrial Performance Index (CIP).
Regarding industrial production, the minister indicated that the kingdom’s main products of national origin include raw aluminum, chemical fertilisers, iron pellets, among others, and are exported mainly to the UAE, Saudi Arabia, Oman, Egypt, and the USA.
Then, Al-Zayani spoke in detail about the Industrial Strategy (2022-2026), launched recently to attract international investment as part of the Economic Recovery Plan, noting that it focuses mainly on transforming the industrial sector to enter the Fourth Industrial Revolution, promoting the circular economy, carbon and environmental and social governance, as well as encouraging investment in technological infrastructure and digitising manufacturing, in addition to increasing the efficiency of supply chains through the integration of Gulf industries, hence the importance of exploiting natural resources by encouraging investment in mining.
He affirmed that the mining sector is one of the promising sectors that will boost the industrial sector in the Kingdom, which will increase the contribution of the industrial sector to the country’s GDP, as well as increase exports and the job localisation rate.
He affirmed confidence in the national qualified competencies, who are the real asset of the kingdom, noting that the strategy attaches great importance to developing Bahrainis, in line with the government’s keenness to encourage the nationals to join the industrial sector.
Regarding the most important requirements to be met by industrial companies to keep pace with digital transformation, the minister stressed that the industrial sector must adopt the latest technologies and industrial revolutions to ensure its sustainability, which will contribute to increasing its production capacity.
He added that the whole world is seeking to achieve social responsibility towards the planet, especially the trend towards sustainable and green industries, which can be achieved by adopting digital transformation in the industry, by digitising it and encouraging automation in production lines, in addition to adopting renewable energy solutions.
In this context, he said that His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, had announced, during the 26th United Nations Climate Change Conference of the Parties (COP26), that Bahrain was committed to reaching net zero by 2060 in order to face the challenges of climate change and protect the environment.
Source: Bahrain News Agency