Industry and Commerce Minister Dr. Hassan Fakhro stressed the importance of coordination and constant follow-up for joint projects and understandings and agreements between the poles of the private sector in Bahrain and Russia.
This came during a meeting yesterday with Victor Lysechko, Advisor of Russian Direct Investment Fund; Aksenenok Alexander and Babloyan Kamo from Vneshconom Bank and members of the Bahrain-Russian Joint Businessmen Council. In the presence of Victor Smirnov, Russian Ambassador to Bahrain; and Dr. Essam Fakhro Bahrain Chamber of Commerce and Industry chairman. The minister confirmed government’s keenness to develop economic relations with all countries of the world and take advantage of the scientific and technical expertise to achieve the desired economic growth for the Kingdom of Bahrain.
The minister reviewed the potential investment opportunities offered by the Kingdom’s government to investors from all over the world under accessible procedures offered to investors to different investment projects. Dr. Fakhro noted the national strategy that reinforce Bahrain financial and investment position and legislation that would qualify the country to attract major investment projects including taking advantage of Bahrain’s strategic location as a center for business in the region and capitalize on the advantages provided by the Free Trade Agreement with the United States.
During the meeting, the Minister of Industry and Commerce noted to the positive initiative of the private sector in both countries, and pointed to the progress witnessed by the Kingdom of Bahrain especially the economic and development field.
In addition to the excellent reputation enjoyed by the Kingdom and human resources available that encouraged international investors to invest in Bahrain as a first choice in the region.
The Minister of Industry and Commerce appraised the efforts of the Russian Embassy in Bahrain and its continuous cooperation with the government and the Ministry to enhance bilateral relations and lay out a path for joint projects which would contribute to the economies of the both countries.