The 2010 numbers for the industrial economic sector in Bahrain prove that growth is present even in the midst of worldwide downturns, according to information shared with the Bahraini cabinet. The Prime Minister of the nation, HRH Prince Khalifa bin Salman Al Khalifa, chairs the Cabinet.
Overall 140 projects spread across a variety of areas in the industrial sector received final legal license in 2010. The projects injected a total of $1.98 billion (or BD 747 million) into the country’s economy and are forecasted to create up to 7,000 job opportunities in Bahrain, according to details in an annual report from Dr Hassan Fakhro, the Minister of Industry and Commerce.
In the report it was noted that 62 percent of these projects are currently operational with 19 percent in the final stages. The balance has not yet materialized.
This session of the Cabinet saw the approval for Bahrain to join in the Arab Fund Initiative, a move to finance small to medium-sized private businesses.Paul Holdsworth, Staff Writer, Gulf Jobs Market News