Salman Industrial City ‘key milestone’
Posted on » Thursday, January 07, 2010
JOBS at the Salman Industrial City are expected to more than double to around 34,000 within a few years.
Investments in the venture, which already house 160 companies, are also expected to more than double to nearly $8 billion (BD3bn).
The forecast came as His Majesty King Hamad officially laid the foundation stone for the city yesterday.
It was originally due to be called the Hamad Industrial City, but was renamed yesterday on instructions from the King.
The ceremony was attended by His Royal Highness the Prime Minister Prince Khalifa bin Salman Al Khalifa, His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Deputy Supreme Commander, Ruling Family members, ministers, Shura and Parliament members, dignitaries and other guests.
Industry and Commerce Minister Dr Hassan Fakhro said investments in the city were undergoing a remarkable surge, with around $3.5bn (BD1.3bn) having already been invested.
"We believe that this growth will continue and reach more than $7.6bn in the next few years," he told the ceremony.
Dr Fakhro said the city was an ambitious industrial initiative of His Majesty, embracing the Hidd Industrial Area, which includes dozens of the most important industries in the kingdom; Bahrain International Investment Park (BIIP), which has large advanced manufacturing projects and Bahrain Investment Wharf (BIW), which is one of the unique projects in Bahrain for its quality, size and management.
Around 15,500 people are already employed in these areas and this is expected to grow to around 34,000 in just a few years, said Dr Fakhro.
He paid tribute to His Majesty’s vision and said the ceremony marked yet another milestone in building a solid underlying structure for the future of Bahrain.
"As part of Bahrain’s Vision 2030 for economic development, this achievement compliments the great strides that have already been achieved," he said.
Dr Fakhro also applauded the far-sighted policies of His Majesty’s government, led by the Premier, in developing the project and putting in place appropriate policies and strengthening the infrastructure, to transform the Economic Vision 2030 into concrete steps.
He said the Crown Prince, who is also chairman of the Economic Development Board, has played a key role in transforming this vision into a pioneering, unique and promising reality.
The King’s presence at the inauguration was testimony to the importance of the development and highlighted his personal interest in all matters related to developing Bahrain, said Dr Fakhro.
He said His Majesty’s concern regarding the national economy and economic development, especially in the industrial sector, had been known for decades.
"It is indeed the main engine of growth of the economy and without doubt, it compliments his continued dedication to developing the historical political process," said Dr Fakhro.
He said King Hamad’s clear vision and ambition for Bahrain were based primarily on industrial development.
"As we know the industrialised countries underwent the industrial revolution," said Dr Fakhro.
"This first happened in Britain and then subsequently in the surrounding countries of Europe and in America. This was the launch of the future of contemporary civilisation in which we live today."
He said King Hamad’s initiative in being present at the ceremony was also a foundation stone in developing a Royal Economic Authority, which under his guidance would transform the sea area north-west of the site into a thriving economic city, the largest and most progressive in Bahrain.
"I believe that this authority will underpin the future economic development of Bahrain and the underlying role of the private sector in our country, because it will contain a great many environmentally-friendly, advanced industries, and will include a new Bahrain Future Sea Port and an international airport," said Dr Fakhro.
"This will potentially be a new platform for the delivery of services and green eco-friendly energies, in addition to the development of the oil and gas industry."
Dr Fakhro said His Majesty’s vision for the project would build Bahrain’s economic future and link the country with the region through causeways and highways and hopefully will meet the country’s needs and enhance its economy even further.
He paid tribute to investors who are part of the industrial city.
"We must never lose sight of the importance of the private sector entrepreneurs and managers to our overall well-being," said Dr Fakhro.
"It is their courage; their vision and their dynamism which helps create the opportunities for men and women of all ages to secure employment in a variety of disciplines."
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MANAMA: Investments in the Salman Industrial City are expected to more than double to nearly $8 billion (BD3bn) in the next few years.
The forecast came as His Majesty King Hamad officially laid the foundation stone for the city yesterday.
The ceremony was attended by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and Economic Development Board chairman, Ruling Family members, ministers, Shura and parliament members, dignitaries and guests.
Industry and Commerce Minister Dr Hassan Fakhro said investments in the city were undergoing a remarkable surge, with around $3.5bn (BD1.3bn) having already been invested.
"We believe that this growth will continue and reach more than $7.6bn (BD2.8bn) in the next few years," he told the ceremony.
Dr Fakhro paid tribute to His Majesty’s vision and said the ceremony marked yet another milestone in building a solid underlying structure for the future of Bahrain.
"As part of Bahrain’s Vision 2030 for economic development, this achievement compliments the great strides that have already been achieved," he said.
His Majesty said "this pioneering project promises a more radiant future for Bahrain and its people on all levels".
He described the mega city as reflecting his development strategy and Bahrain’s Economic Vision 2030. "The city is a new industrial start for Bahrain and the cornerstone of our ambitious vision and strategy," he said.
Initially named King Hamad Industrial City, His Majesty renamed the iconic development after the Crown Prince. He highlighted the importance of the project as a key complement for the iconic Khalifa bin Salman Port, the biggest in Bahrain.
He also pointed out its strategic location, being close to Bahrain International Airport and the highway leading to King Fahad Causeway.
The city, he said, will also benefit from the planned friendship Bahrain-Qatar Causeway.
It will play a pivotal role as a catalyst for industry and commerce and a cornerstone for investment and service infrastructure. It will also benefit from oil and gas resources, in addition to the Free Trade Agreement bonding Bahrain and the US.
He hailed the kingdom’s booming economy, paying tribute to the pivotal role of the private sector in spearheading its growth.
"Bahrain has gained the edge in attracting leading industrial companies and huge capital thanks to the efforts of its skilled people," he said.
He paid tribute to the government led by HRH the Premier for "laying the foundations for the colossal monument, outlining policies and modernising infrastructure".
He also hailed HRH the Crown Prince for his key role in "transforming the ambitious and pioneering Economic Vision 2030" into a tangible project.
He thanked Dr Fakhro and officials for their efforts in organising the ceremony.
HRH the Crown Prince yesterday sent a letter of thanks to His Majesty for naming the industrial city after him.
He pledged to turn the iconic development into a beacon of constructive and productive work and a catalyst for development and economic objectives meeting people’s aspirations.
"I will always be up to your expectations for you are my first mentor who taught me that work and production are sacred and that serving Bahrain is an unequalled duty all have to answer," he said.
BAHRAIN INTERNATIONAL INVESTMENT PARK (BIIP)
http://www.skyscrapercity.com/showthread.php?t=211707
BAHRAIN INVESTMENT WHARF
http://www.skyscrapercity.com/showthread.php?t=435517
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