Regarding the economic indicators, Minister Al Zayani confirmed that the Bahraini economy has moved away from its dependence on oil, which now represents only 19% of the domestic product, and that the industrial sector is expanding and now represents 14% of the domestic product, adding that the Private Sector today plays a pivotal role in the growth of the economy and in the process of providing job opportunities for citizens. The Minister called on Bahraini business owners and entrepreneurs to take advantage of the opportunities, whether local or provided by trade exchange agreements between the Kingdom of Bahrain and other countries, especially the free trade agreement with the United States of America, which allows the Bahraini investor to enter the vast American market and benefit from its large size, recalling the boldness and initiatives of the first generation of the Bahraini entrepreneurs, who left Bahrain in search of commercial opportunities in India, Iraq and Africa, and succeeded in establishing fruitful commercial relations and he wondered what prevents one of the most famous local products, for example Bahraini sweets, from reaching the American market through the commercial franchise system?
In his intervention, the Dignitary Khalid Kanoo confirmed that he also noticed that boldness is lacking in the young generation of entrepreneurs and that he aspires to see them take greater steps towards achieving their commercial dreams without hesitation, like the previous generations, stressing that the opportunity is available and waiting to be seized.
In response to audience questions about the extent of the success of the Ministry’s policies in recent years, Minister Al Zayani explained that the Ministry of Industry and Commerce succeeded in restoring confidence in the local industrial sector after it was suffering from weak oranisation, and that the future is promising for this sector, especially with the announcement of a large number of strategic projects in 2022, which include a number of new industrial cities. He also confirmed that the fight against the commercial concealment continues because the commercial concealment struck many citizens who were subject to exploitation by renters of CRs, citing the case of an 83-year-old woman who has financial claims that exceeded 160 thousand dinars, without knowing.
The Minister also responded to a question about his opinion on the role of the education system in encouraging citizens to pursue entrepreneurship, indicating that education has a very important role, especially vocational education that provides the market with graduates with practical skills, praising the outputs of the Bahrain Institute of Banking and Finance, which is operated by several local banks and which has proven over the years that it is capable of providing specialised, high-quality vocational education that benefits students from within and outside Bahrain, and guarantees for them excellent job opportunities.
At the conclusion of the Session, His Excellency the Minister of Industry and Commerce received a memorial shield from the Dignitary Khalid Mohamed Kanoo in recognition of his participation in the First Season of the Dialogue Sessions of The Yusuf Bin Ahmed Kanoo Award, and in appreciation of his keenness to inform those interested in economies of the latest activities of the Ministry.
Intervention by the Dignitary Khalid Kanoo during the Session
Dignitary Khalid Kanoo with Minister Al Zayani
Dialogue Session with Minister Zayed Al Zayani
Part of the presence in the Session
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