Massive infrastructure projects currently in the planning stage will not only boost the national economy but also strengthen the kingdom's competitiveness, a top minister has said.
Transportation Minister and Economic Development Board acting chief executive Kamal Ahmed said the projects worth a total of $22 billion will involve investment in industrial, infrastructure, and tourism sectors, and have a positive impact on development.
The projects include the Bahrain International Airport BIA) modernization project, the development of Al Jazair Beach, investment projects in Durrat Al Bahrain, expansion of the Alba smelter, and the Bapco modernization project among others.
Another key project is the modernization of the BIA currently underway, which aims at increasing the airport's capacity by more than 50 per cent from nine million to 14m passengers.
Alongside improvements to the transport infrastructure, the government is also investing in a range of other areas, including housing.
The planned spend for housing is included in the $7.5bn which was provided as part of the GCC Development Fund.
Bahrain aims to create 40,000 new housing units in a quick and efficient manner.
Government organisations and the Mumtalakat Holding Company in particular, will play a major role in the implementation of key projects.
"These investments promise opportunities to international investors as well as strengthen connectivity with the region," the minister said.
"The projects are part of a wider effort aimed at diversifying the economy, as well as drawing quality investment, in order to support long-term sustainable growth, create quality job opportunities, and increase the standard of living." Mr Ahmed said the government's focus was on ensuring that positive outcomes of the projects can be reflected on the national economy in the quickest possible time.
Gulf Daily News