GOIC takes part in identifying knowledge-based industries’ investment opportunities in Bahrain

The Gulf Organization for Industrial Consulting (GOIC) participated in the meetings held by the Ministry of Industry and Commerce in the Kingdom of Bahrain to prepare a specialised study to develop knowledge-based industries and identify investment opportunities in this sector. 

The meetings was held in the presence of a team of experts and consultants from the World Bank.

The first phase of the project has been accomplished. It includes an analysis of the economic progress of Bahrain and the product space in manufacturing industries, in addition to a series of discussions with industrial investors from the public and private sectors. 

GOIC’s study team represented by Dr. Laila Diab, Strategic Planning Consultant and the World Bank’s team represented by Dr. Raj Nharali will complete the second phase of the project in collaboration with the Ministry of Industry and Commerce. It will include presenting the results of the assessment to representatives of the public and private sectors and putting together a number of recommendations on the adopted policies, promising knowledge-based industries and investment opportunities in the Kingdom of Bahrain. 

These meetings came after another held end of January 2015 during which a comprehensive sector survey of knowledge-based industries in Bahrain was prepared. The meeting also resulted in the identification of the production and exporting capacities, industrial maintenance activities and available investment opportunities, capacities and facilitations in Bahrain. Also during the same meeting, new and innovative industrial investment opportunities were introduced as part of the promotion programs presented by the Ministry of Industry and Commerce during the economic forum “Invest in Bahrain”. 

The Ministry of Industry and Commerce had listed this study as part of its 2015 action plan and coordinated and collaborated with GOIC to develop the initial concepts of the study.

The aforementioned study team is currently drafting a scientific methodology and a roadmap under an integrated guiding system. To do so, the team convened with officials in charge at the Economic Development Board, Tamkeen and Bahrain Development Bank. 

Moreover, the team visited a number of investment companies within the Bahrain International Investment Park in addition to some concerned investment parties that are interested in this sector. The methodology and roadmap include collecting and analysing data and information relating to key technologies in the sectors of metals (particularly aluminium), water treatment, plastic industries, chemicals, electrical industries, electronics, pharmaceuticals and biotechnologies. 

The tasks of this team also include examining these technologies and determining appropriate opportunities to develop relevant manufacturing industries and studying the existing industrial infrastructure in Bahrain and similar initiatives and experiences in GCC countries, in addition to the competitive advantages in the Kingdom of Bahrain.