A specialised study to develop Bahrain’s knowledge-based industries and identify investment opportunities in the sector is being carried out by the Gulf Organisation for Industrial Consulting (GOIC) in partnership with the Industry and Commerce Ministry, it was announced yesterday (July 9).

The announcement follows a series of meetings held in the presence of a team of experts and consultants from the World Bank, said a report in the Gulf Daily News (GDN), our sister publication.

The first phase of the project has been completed.

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 strategic planning consultant Dr Laila Diab and the World Bank’s team represented by Dr Raj Nharali will complete the second phase of the project in collaboration with the ministry.

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.

It was also announced that the results of a comprehensive sector survey of knowledge-based industries in Bahrain were presented in January.

The meeting resulted in identifying production and export capacities, industrial maintenance activities and available investment opportunities, capacities and facilitations in the country.

Also during the same meeting, new and innovative industrial investment opportunities were introduced as part of promotion programmes presented by the ministry during the “Invest in Bahrain” forum.

The ministry had listed this study as part of its action plan for the year and co-ordinated and collaborated with GOIC to develop the initial concepts of the study.

The study team is also currently drafting a scientific methodology and a roadmap under an integrated guiding system. 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 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 the 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. - TradeArabia News Service