The Minister of Industry and Commerce, Zayed bin Rashid Al Zayani, participated in a press conference on the sidelines of the higher committee meeting for the Integrative Industrial Partnership, being held in the Egyptian Capital, Cairo. Also participating in the conference were the representatives of the UAE, Egypt and Jordan.
During the conference, the Partnership higher Committee members highlighted the role the agreement will play in promoting the growth and integration of value chains and trade between their states. They affirmed their countries’ commitment to adopting joint initiatives and projects, while facilitating joint investments in the industrial sector.
Minister Al Zayani highlighted the Government of Bahrain’s objectives of cementing ties between the member states to further develop its industrial sector. He stated that the government has launched the Industrial Strategy (2022-2026), which aims to develop the sector through different initiatives, including establishing a new industrial zone, and seeking to attract foreign investment by encouraging industrial projects and partnerships.
The committee stated that it has received 81 project proposals, including 11 that have been referred to enter the feasibility studies phase, in the agricultural, food and fertilizers, and medicines fields, with initial investments amounting to $1.6 billion. The next phase of projects will focus on metal, chemical, plastic, textiles and clothing.
Source: Bahrain News Agency