FinancialNews

Home

Investor Relations

Financial News

26-07-22

Bahrain joins UAE, Egypt, Jordan's industrial collaboration for expansion

(MENAFN) Bahrain has joined the Industrial Partnership for Supportable Financial Development, growing the industrial manufacturing value add of the association to at least USD112.5 billion.

Bahrain participated with the UAE, Egypt as well as Jordan at the second biggest committee summit of the industrial partnership in Cairo.

Dr Nevin Gamea, Egypt's Minister of Trade and Industry, Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, as well as Yousef Al Shamali, Jordanian Minister of Industry, Trade and Supply, were also attended by Zayed Al Zayani, Minister of Industry and Commerce of Bahrain, at the conference, the UAE Ministry of Industry and Advanced Technology stated on Monday.

Bahrain, a main manufacturer of raw aluminium as well as iron ore, boasts a robust industrial area with over 9,500 firms in addition to 55,000 workers and USD4.3bn in industrial foreign direct investment.

The statement mentioned that the partnership targets to form big combined industrial ventures, produce job opportunities, contribute to rising financial production, diversify the economies of the partner nations, support industrial production as well as raise exports.

Ms Gamea stated that “This partnership is key to ensuring value and supply chains, reaching industrial self-sufficiency, and creating more jobs.”

Adding “We welcome Bahrain to join this partnership, which will help maximise the benefit of the industrial capabilities of the four countries.”

MENAFN26072022000045014228ID1104591369

Follow us

Terms & Conditions | Privacy & Security | Contact Us | Sitemap