Bahrain issues 236 new industrial licences

Bahrain's industrial sector is booming with a bumper crop of new licences. 'A record 236 initial industrial licences were issued last year, generating a potential windfall of investment and jobs,' Industry and Commerce Minister Dr Hassan Fakhro said in a report submitted to yesterday's Cabinet.

If finalised, they will secure Bahrain investments averaging BD610 million and create 8,323 jobs for Bahrainis, he told the session chaired by Deputy Premier Shaikh Mohammed bin Mubarak Al Khalifa at Gudaibiya Palace.

A first batch of 119 industrial licences has already been approved, securing Bahrain investments worth BD277 million and 5,931 opportunities for Bahraini job-seekers.
While hailing achievements as testimony to its successful policies, the government reiterated its resolve to offer further incentives and woo foreign investors to set up projects in Bahrain.

It also stressed the importance of earmarking more industrial zones and exploring alternative sources to natural gas. The ministerial committee for public facilities has been commissioned to ensure the necessary follow up.-(via TradeArabia News Service)