The Gulf Industry Forum, which was held alongside the third edition of the Gulf Industry Fair, echoed a unanimous call from the corporate captains that ‘the future, indeed, is industry.’

The one-day forum was held in association with leading event consultancy North Star Associates.

The event brought together influential business leaders and captains of industry from the energy and power, finance, ports and logistics, commodities and manufacturing sectors to discuss the industrial sector’s role in enhancing Gulf economic output and leading the world out of recession under the theme “The Future is Industry.”

The forum, aimed at providing an additional opportunity for businessmen and industrialists from all over the region and internationally, saw various speakers exhorting companies to provide an impetus to the industrial sector so that it can enhance Gulf economic output and lead the world out of recession.

In his keynote opening address on ‘The Role of Government in encouraging Industry,’ Dr Hassan Fakhro, Minister of Industry and Commerce said that the subject matter of the Forum: ‘The Future is Industry’ was very relevant in today’s business environment.

According to him, Bahrain’s industrial sector today accounts for 45 per cent of the country’s GDP, registering a healthy growth of 19 per cent over 2008 and 28 per cent in 2007 over 2006.  Of this, 16 per cent accounts for manufacturing alone.

“My firm belief is that it’s just a beginning as we remain focused on continued growth in the industrial sector,” Dr Fakhro said.

Lauding the Bahrain’s leadership’s role in keeping the country’s economy stable in the wake of the global financial crisis, Dr Fakhro said that Bahrain has been rated as the 13th freest economy in the world and we aspire to be at the top of the ladder.”

Spearheading industrial growth in the country, Dr Fakhro said, is essentially a three-fold approach that included initiation of bold policy initiatives, upgradation of manufacturing and continuous investment in the country’s industrial infrastructure.

The address by Dr Fakhro was followed by keynote speeches from Sheikh Daij bin Salman bin Daij Al Khalifa, chairman, General Organisation for Seaports (GOP) in Bahrain, and Faisal Al-Mahroos, acting chief executive, Bapco.

Other speakers included leading Saudi industrialist Dr Solaiman Al Twaijri, managing director and CEO, Saudi Arabian Amiantit Company; Mahmood Kooheji, chairman, Alba; Ameet Shah, co-chairman and director, Astonfield Management; Nicholas Moy, chairman, Gryphen Investment Bank; Praveen Kadle, managing director, Tata Capital, and Maurizio Manzati, managing director, Emirates International Advisers.-TradeArabia News Service