São Paulo – Bahrain is investing to increase the participation of its industry in economic production. The government’s plan includes attracting international investment as part of the 2022 – 2026 economic recovery plan.
The main sectors the strategy intends to stimulate are aluminum and petrochemicals, renewable energies, green and blue hydrogen. Pictured above, a worker of the petrochemical industry in Bahrain.
Bahrain’s plan includes increasing the industrial sector’s contribution to its Gross Domestic Product (GDP) from 12.8% in 2019 to 14.5% by 2026. The information was released by Bahrain News Agency, the country’s official news agency.
According to the press release, the Bahrain Economic Development Board (EDB) issued a statement expressing confidence in the plan’s viability. “The strategy would contribute to developing the industrial sector, consolidating Bahrain’s economic situation, and creating jobs in the local market as part of the diversification policy,” said the statement issued by the EDB.
The focus of action would be to transform the sector to enter the Fourth Industrial Revolution, including the circular economy, environmental and social governance, and encouraging investment in technological infrastructure and digitization of manufacturing.
The EDB statement also mentioned the importance of the Ministry of Industry, Trade, and Tourism in cooperation with the public and private sectors. The text also emphasized the nation’s advanced industrial potential and competitive incentives that can facilitate the fulfillment of the strategy.
Translated by Elúsio Brasileiro