Bahrain 'ranked with developed countries'

More than 200 delegates turned up for the two-day Business and Financial Forum held last week at the Gulf Hotel's Gulf International Convention Centre under the patronage of Industry and Commerce Minister Dr Hasan Fakhro.

In the forum's opening address, Dr Fakhro said: "The economic and business boom plus launching ambitious projects, ranks Bahrain with the developed countries.

"The government is working hard to strengthen the economic structure and enhance the regulations and rules that organise economic activities in various fields.

"The ministry of industry and commerce is also working day and night for the sake of reviving trade sector by relying on the private sector, who is the main partner of the vision of sustainable development."

He also said that the number of registered companies in Bahrain increased to 75,303. And the value of accumulated local and foreign direct capitals reached $32 billion last year.

"Our ministry was able to launch a series of initiatives such as inaugurating an industrial strategy which was made to be a perfect framework to enhance industry sector and make it more vital in the national economy," he added.

Bahrain Chamber of Commerce and Industry chairman Dr Esam Fakhro reiterated that GCC countries and the Arab world in general is witnessing these days a huge economic and business boom.

"What really makes this boom special in this region is that the private sector is becoming a vital player more than before, and that is obvious if we behold the dramatic growth of non-oil sectors and its contributions in the gross domestic product," Dr Fakhro said.

The forum was organised by Confex International SAL and Magnum Events & Exhibitions (MEEM).