The Ministry of Industry and Commerce, in partnership with the UAE Ministry of Industry and Advanced Technology and in cooperation with the Bahrain Chamber of Commerce and Industry, held a workshop for the private sector on the “Integrated Industrial Partnership for Sustainable Economic Development”.

This cooperation comes as part of Bahrain’s preparations to host the fourth meeting of the executive and higher committees of the Industrial Partnership this year.

The workshop aims to introduce new companies to the Integrated Industrial Partnership and its objectives, collect views on enablers and project proposals, in addition to introducing the UAE ADQ Holding Company, which allocated a $10 billion investment fund for projects resulting from this Industrial Partnership.

Eman Ahmed Al Doseri, the ministry’s Undersecretary and member of the Executive Committee for Integrated Industrial Partnership, said that this workshop comes in the context of Bahrain’s accession to the Basic Law of the Integrated Industrial Partnership for Sustainable Economic Development in 2022, which translates the visions of the country’s leadership in relying on assets, capabilities and expertise offered by the Partnership countries, which provide industrial opportunities that contribute to diversifying the economy, and increasing the competitiveness and flexibility of the industrial sector, as the industrial sector is one of the main pillars of economic diversification.

“The government’s support to the industrial sector encourages us to launch initiatives that support this sector in line with the industrial sector strategy launched within the economic recovery plan, which considers increasing the efficiency of supply chains through industrial integration one of its most important pillars,” Al Doseri added.

The workshop was presented by Abdullah Al Shamsi, UAE Assistant Undersecretary for Industrial Development at the Ministry of Industry and Advanced Technology, and Fadi Shafiq Al-Qaed, the Industrial Advisor at the Ministry, in the presence of a number of representatives of the private sector and the government sector in Bahrain.

Bahrain entered this partnership along with the UAE, Jordan and Egypt with the aim of securing the supply chain and creating self-sufficiency, localizing industries and integrating value chains, and encouraging integrated value-added industries that will achieve sustainable economic development and contribute to creating promising job opportunities for citizens in targeted industries such as agriculture, food, fertilizers, pharmaceuticals, textiles and clothing, metals, petrochemicals and plastics.

Source: Bahrain News Agency