V L Srinivasan
Manama (Bahrain), Feb 12:
The mood is upbeat within the industry and trade circles following the just concluded three-day maiden visit of Crown Prince and Deputy Supreme Commander HRH Prince Salman bin Hamad Al Khalifa to Turkey.
Prominent personalities and business leaders from the Kingdom who accompanied the Crown Prince on the trip feel that the atmosphere has become more conducive for investors in both countries to expand their activities.
However, they feel that there should be a concrete follow up on the visit in order for the Kingdom to reap the maximum benefits and create more employment opportunities for the local youth, as well as increase the Kingdom’s productivity.
Mumtalakat Holding Company Chief Executive and Gulf Air Chairman Talal Al Zain said that the fact that the Crown Prince included businessmen in his delegation is a reflection of his vision that the private sector is behind the economic development of Bahrain. “It also reflects his respect towards the business community in Bahrain,” he said.
During the visit, the delegation met important personalities in various sectors who could promote foreign investment in Bahrain. Both countries will benefit to a great extent as the GCC’s trillion dollar trade volume is estimated to become one of the largest economies in the world in the future, he said.
Banking industry veteran and BBK Chairman Murad Ali Murad said that the visit primarily aimed at the development of trade and economic cooperation between the two countries. “It was the right decision to visit Turkey at the right time,” he remarked.
There has been number of initiatives ever since His Majesty the King visited Turkey in August 2008 and the latest visit was aimed at further boosting cooperation between the two countries.
Bahrain Chamber of Commerce and Industry Board member and Bahrain Turkish Business Council Vice Chairman Jawad Al Hawaj said that business opportunities between the two countries have a wide potential for improvement. Like Bahrain, which backs its investors, Turkey extends support to businessmen.
Al Hawaj said that the visit was not only well organsed but the leadership of the Crown Prince was also highly appreciated.
International Trading and Investment Company Chairman and Bahrain Businessmen Association President Shaikh Hisham bin Abdulrahman Khalifa said that trip was quite satisfactory as the business delegation was able to contact prominent Turkish businessmen in various sectors including oil and gas, technology, telecommunications, construction, textiles and food processing industry.
“There is great opportunity for the captains of the industry in both countries. I think the next step would be to push forward a few deals to boost economic cooperation. The visit is a stepping stone for the business community in Bahrain to create more avenues and take the business relations to a new height,” he said.
Investcorp Gulf Business President Mohammed Al Shroogi described the visit as highly successful both in terms of its political and economic aspects. “Though we have capability, the Crown Prince’s visit paved the way for us and showed the world that we have support at the highest level in the Kingdom,” he said.
Bahrain is strategically located in the middle of the Gulf and Turkish companies which begin operating in the Kingdom can easily expand to other countries in the GCC.
Mr. Al Shroogi added that Bahrain is trying to create ventures with Turkey in various sectors including information technology, agriculture and livestock, health care and industrial technology.
“Turkish entrepreneurs have developed high value industries over the years and a continuation of dialogue with our counterparts will help in setting up more industries. The Turkish industrialists will not only be the equity partners but they can also manage them as they have the technology,” he said.
“Although it is very difficult to identify the quantum of investment that is expected, we are aiming at around 10 or 12 industries being established in the Kingdom on a short and medium term basis,” Mr. Al Shroogi said.
Tamkeen’s Head of Planning and Business Development Dr. Nasser Ali Qaedi also expressed enthusiasm over the visit. “It was a very good trip and showed Bahrain’s keenness to support the private sector in developing opportunities in the Kingdom as well as in Turkey. It gave us a good opportunity to identify potential partners, ventures and projects that could benefit Bahrain.”
He added that the trip was well received by representatives in both countries and expressed confidence that many projects would emerge as a result of the visit.
Manama (Bahrain), Feb 12:
The mood is upbeat within the industry and trade circles following the just concluded three-day maiden visit of Crown Prince and Deputy Supreme Commander HRH Prince Salman bin Hamad Al Khalifa to Turkey.
Prominent personalities and business leaders from the Kingdom who accompanied the Crown Prince on the trip feel that the atmosphere has become more conducive for investors in both countries to expand their activities.
However, they feel that there should be a concrete follow up on the visit in order for the Kingdom to reap the maximum benefits and create more employment opportunities for the local youth, as well as increase the Kingdom’s productivity.
Mumtalakat Holding Company Chief Executive and Gulf Air Chairman Talal Al Zain said that the fact that the Crown Prince included businessmen in his delegation is a reflection of his vision that the private sector is behind the economic development of Bahrain. “It also reflects his respect towards the business community in Bahrain,” he said.
During the visit, the delegation met important personalities in various sectors who could promote foreign investment in Bahrain. Both countries will benefit to a great extent as the GCC’s trillion dollar trade volume is estimated to become one of the largest economies in the world in the future, he said.
Banking industry veteran and BBK Chairman Murad Ali Murad said that the visit primarily aimed at the development of trade and economic cooperation between the two countries. “It was the right decision to visit Turkey at the right time,” he remarked.
There has been number of initiatives ever since His Majesty the King visited Turkey in August 2008 and the latest visit was aimed at further boosting cooperation between the two countries.
Bahrain Chamber of Commerce and Industry Board member and Bahrain Turkish Business Council Vice Chairman Jawad Al Hawaj said that business opportunities between the two countries have a wide potential for improvement. Like Bahrain, which backs its investors, Turkey extends support to businessmen.
Al Hawaj said that the visit was not only well organsed but the leadership of the Crown Prince was also highly appreciated.
International Trading and Investment Company Chairman and Bahrain Businessmen Association President Shaikh Hisham bin Abdulrahman Khalifa said that trip was quite satisfactory as the business delegation was able to contact prominent Turkish businessmen in various sectors including oil and gas, technology, telecommunications, construction, textiles and food processing industry.
“There is great opportunity for the captains of the industry in both countries. I think the next step would be to push forward a few deals to boost economic cooperation. The visit is a stepping stone for the business community in Bahrain to create more avenues and take the business relations to a new height,” he said.
Investcorp Gulf Business President Mohammed Al Shroogi described the visit as highly successful both in terms of its political and economic aspects. “Though we have capability, the Crown Prince’s visit paved the way for us and showed the world that we have support at the highest level in the Kingdom,” he said.
Bahrain is strategically located in the middle of the Gulf and Turkish companies which begin operating in the Kingdom can easily expand to other countries in the GCC.
Mr. Al Shroogi added that Bahrain is trying to create ventures with Turkey in various sectors including information technology, agriculture and livestock, health care and industrial technology.
“Turkish entrepreneurs have developed high value industries over the years and a continuation of dialogue with our counterparts will help in setting up more industries. The Turkish industrialists will not only be the equity partners but they can also manage them as they have the technology,” he said.
“Although it is very difficult to identify the quantum of investment that is expected, we are aiming at around 10 or 12 industries being established in the Kingdom on a short and medium term basis,” Mr. Al Shroogi said.
Tamkeen’s Head of Planning and Business Development Dr. Nasser Ali Qaedi also expressed enthusiasm over the visit. “It was a very good trip and showed Bahrain’s keenness to support the private sector in developing opportunities in the Kingdom as well as in Turkey. It gave us a good opportunity to identify potential partners, ventures and projects that could benefit Bahrain.”
He added that the trip was well received by representatives in both countries and expressed confidence that many projects would emerge as a result of the visit.
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