Bahrain’s industrial strategy (2022-2026)highlighted

Bahrain’s industrial strategy (2022-2026)highlighted

The Economic Development Board (EDB) expressed confidence in the viability of the industrial strategy (2022-2026) to attract international investment as part of the recovery plan. “The strategy would contribute to developing the industrial sector, consolidate Bahrain’s economic standing and creating jobs in the local market as part of the diversification policy”, it said in a statement . It stressed Bahrain’s advanced industrial potential and competitive incentives which would facilitate the achievement of the industrial strategic goals. Bahrain is seeking to increase the contribution of the industrial sector to the Gross Domestic Product (GDP) from 12.8% in 2019 to 14.5% in 2026. The 2022-2026 strategy will focus mainly on transforming of the sector to enter the Fourth Industrial Revolution, promote the circular economy, carbon and environmental and social governance, as well as encourage investment in technological infrastructure and digitize manufacturing. “Bahrain has made significant strides in developing the industrial sector and keeping pace with various international developments, which enhanced its standing as a business hub and helped attract many major industrial investments”, said the EDB statement. The statement commended the role of the Ministry of Industry, Commerce and Tourism, in cooperation with stakeholders in the public and private sectors, to spur