Bahrain is partnering with the UAE, Jordan and Egypt for 10 major projects, with an estimated value of more than $2 billion, that includes promising sectors like the electric car industry and the development of modern technologies in the fields of pharmaceutical industries.

The proposals were made at a meeting of the higher committee of the Industrial Partnership for Sustainable Economic Development in the Jordanian capital Amman.

Industry and Commerce Minister Abdulla bin Adel Fakhro, who attended the ministerial meeting along with counterparts from the three countries, said Bahrain’s accession to the partnership reflects the awareness of the private sector of these opportunities that follow the industrial sector strategy (2022-2026) in achieving industrial integration.

The meeting included the signing of 12 agreements across nine industrial projects. They are expected to create approximately 13,000 job opportunities and boost national GDP in the partnering countries by more than $1.6bn.

Mr Fakhro affirmed the government’s support for the industrial sector, as one of the promising sectors in the economic recovery plan, supporting the goals of comprehensive development under the leadership of His Majesty King Hamad, and the continuous follow-up of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister.

“Perhaps the opportunities of this partnership lie in the industries Bahrain is entering for the first time, such as the electric car industry, which we are proud of, in addition to the development of modern technologies in the fields of pharmaceutical industries,” the minister said.

Last year, the UAE, Egypt and Jordan formed the partnership to boost sustainable growth while exploring opportunities for joint investments in priority sectors.

Bahrain, a major producer of raw aluminium and iron ore, joined the partnership in August.

“The partnership offers a real opportunity to increase the efficiency of supply chains through the integration of industries in the region, which is a pillar of Bahrain’s industrial strategy,” Mr Fakhro said

He also invited the partnership to hold its next meeting in 2023 in Bahrain.

The meeting included the announcement of a number of projects resulting from the partnerships, most importantly the supply of aluminum sheets by Garmco to manufacture electric cars in partnership with UAE’s M Glory, and a number of MoUs for producing pharmaceuticals by Alpha Biotech factory in partnership with Dar Al Dawa Company from Jordan and Ebeko from Egypt, in addition to a technology transfer agreement between Gulf Biotech and one of the Egyptian factories at an investment value of more than $600 million.

Garmco chief executive Mohammed Rafi said the partnership “has provided a golden opportunity for our factory in the midst of its restructuring, as the supply agreement resulting from our partnership with the UAE’s M Glory ensures the continuity and sustainability of the company”.

He noted that the factory is currently studying other investment opportunities under the partnership to complete the value chain for the manufacture of electric vehicles.

Alpha Biotech chief executive Nizar Adwan said that the ministry’s interest in the industrial sector in light of the ambitious strategy has opened broad horizons for growth and sustainability for small and medium enterprises.

Bahrain’s accession to this partnership opens billion-dollar worth of markets outside the borders and opportunities to replace imports from the partnership countries, he said.

Gulf Biotech managing director Dr Waqar Ahmed expressed the company’s commitment to improve the healthcare sector by developing and providing a wide range of vaccines in key markets, and that the project will contribute to meeting the needs of the region and its self-sufficiency.

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