The Minister of Industry, Commerce and Tourism Mr. Zayed R. Alzayani participated in the 3rd Anniversary of the French Chamber of Commerce and Industry in Bahrain (FCCIB), in presence of the President of MEDEF International Mr. Frédéric SANCHEZ and a large number of chamber members, businessmen and investors.
On this occasion, the minister delivered a speech highlighting the latest development in Bahrain and most important the parliamentary and municipal elections two weeks ago with huge voter turnout of 67% representing that largest voting pool in the history of Bahrain. HM King Hamad bin Isa Alkhalifa inaugurated the parliamentary session and we look forward to positive and fruitful cooperation with the new members. earlier this year BCCI had its elections which also registered a record voter attendance resulting in more inclusive and representative board of directors which we at the Ministry today enjoy very strong and progressive working relations.
He added that “the Government of the Kingdom Bahrain reinforced its reform initiatives and projects under the Economic Vision 2030 to make Bahrain the preferred place for business in the region. This was culminated by an increase from $733 million in 2017 to $810 million for the first eight months of 2018. And most recently the retention of Bahrain’s top five globally and first in Arab World, in the Places to live and work as per HSBC annual survey.”
He confirmed that “the economy of the Kingdom of Bahrain continuous its steady growth registering a respectful 4.1% growth rate in our GDP powered mainly by our early diversification policies as well as the empowerment of the private sector which have genuinely contributed to this respectful growth.”
He noted that the Ministry of Industry, Commerce and Tourism has carried out many initiatives in improving Sijilat system, upgrading a number of business legislations, establishing SMEs Board, streamlining fees for business activities, launching Vatel hospitality college and launching of Export Bahrain.
On the Bahraini-French trade relations, he said that “the total trade between Bahrain and France in 2017 reaching USD491 million registering whooping increase from that of 2015 which was valued at USD278 million. This year the total trade from January to October 2018 has already reached USD556 million.”