Bahrain’s new ‘Industrial Sector Strategy For 2022-2026’ will support economic growth by accelerating various sectors of the kingdom.
The Industrial Sector Strategy was revealed by Bahrain’s Minister of Industry, Commerce and Tourism, Mr. Zayed bin Rashid Alzayani.
“The new Industrial Sector Strategy will strengthen the renewable energy sectors, including blue and green hydrogen production as well as it will contribute towards achieving commitment to reach net-zero carbon emissions by 2060,” said Mr. Alzayani.
The strategy, a pillar in the Economic Recovery Plan, targets downstream industries in aluminum and petrochemicals, food, pharmaceuticals, and micro-electronics.
The minister stated that the Industrial Sector Strategy focuses on five main pillars, which include promoting local industries, investing in infrastructure, improving investors’ experience, providing career guidance for Bahrainis, and updating legislations.
The ministry also plans to set up an “industrial innovation center” to promote the adoption of Fourth Industrial Revolution technologies. For this, the government will dedicate areas to promising industries and improve amenities and services to industrial areas.
Further, the minister noted that the government is looking forward to developing a unified electronic system for investors. “This is part of a strategy to improve investors’ experience by facilitating procedures,” said Mr. Alzayani, adding that the government is re-evaluating current procedures to launch the platform.
“Works are also progressing to ease procedures for acquiring licenses and providing services through relationship management to customize solutions for various encountered issues,” Mr. Alzayani commented.
As part of the Economic Recovery Plan, the new Industrial Strategy for 2022-2026 focuses on delivering professional training to individuals. “This calls for creating various educational and vocational training opportunities in the field. These programs would encourage companies to hire more nationals,” the minister added.
