Chairman of the Bahrain Chamber of Commerce and Industry (BCCI) Dr. Issam Abdulla Fakhro expressed optimism that the Kingdom’s economic sectors will be boosted in the coming period with the start of the National Consensus Dialogue.
He also said that the Kingdom’s economic infrastructure is able to regain the pace of growth in spite of the huge losses recorded during the regretful events that the kingdom went through recently, calling upon all concerned sides to pave the way for the national economy to overcome the repercussions of the crisis.
Dr. Fakhro also asserted that available economic indices show that Bahraini economy is recovering, adding that restoring natural growth will take some time. BCCI Chairman made the comments as he took part in the work meeting organized by Bahraini-Italian Friendship Association (BIFA). The meeting focused on the efforts exerted by BCCI in addressing the economic repercussions of the latest events witnessed by the kingdom. Dr. Fakhro assured members of the Italian community in the Kingdom that the situation is back to normal in Bahrain at all levels, especially the economic one. In this context, he noted that stability has been re-established following His Majesty King Hamad bin Isa Al Khalifa’s call for a National Consensus Dialogue, calling upon them to transfer the reality of what has happened in the Kingdom to their country. Dr. Fakhro also explained that the beginning of the National Consensus Dialogue will enhance the confidence businessmen and investors in the kingdom’s economic atmosphere, expressing hope that the forthcoming dialogue will yield positive results that benefit all segments of the Bahraini society, including the trade one. He also affirmed that BCCI has already submitted its visions to the National Consensus Dialogue, which, he said focused mainly on the economic sides. He also briefed those present on the efforts exerted by BCCI to address the economic impacts of the crisis, citing mainly the suspension of work fees for six months (effective from April), the suspension of the 5% fees levied on hotels for three months, allocation of BD 300 to support small and medium enterprises, exemption of BCCI members from membership fees for one year and call for the cancellation of fees imposed on the private sector. Dr. Fakhro welcomed all steps taken to boost Bahraini-Italian economic and trade ties, lauding the contributions of BIFA, led by Ahmed Jawahery in this regard.