Hassan Al-Sitri
The Parliamentary Financial and Economic Affairs Committee approved the proposal with a desire to establish an industrial zone specialized in pharmaceutical industries.
The proposal includes the desire of the concerned authorities to establish an industrial zone specialized in pharmaceutical industries, so that the region is granted exceptional investment incentives and benefits with a high degree of competitiveness, enabling it to attract large investments in the field of pharmaceuticals.
For its part, the Economic Development Board emphasized the vital role of the pharmaceutical sector in enhancing drug security. This is done by stimulating related industries, such as the chemical, packaging, and transportation industries, in addition to contributing to increasing the Kingdom’s exports, attracting local and foreign investments, and stimulating the development of workforce skills in the areas of research and development, which supports innovation and technological progress.
The Council, in cooperation with partners in the public and private sectors, prepares studies on investment opportunities in the pharmaceutical industry sector and the incentives offered to companies operating in the sector and promotes them. The most important of these incentives is the availability of low-cost industrial lands, which are allocated by the concerned authorities, especially the Ministry of Industry and Trade, which in the allocation process depends primarily on the company’s requirements.
The Council believes that it is better to give companies several options for their investments rather than restricting them to one area.
The Ministry of Industry and Commerce stated that, through the Industry Sector Strategy (2022-2026), which was launched at the end of 2021 as part of the economic recovery plan, the Ministry is working to develop the industrial sector in the Kingdom of Bahrain through a number of initiatives, and the pharmaceutical industry has been included among the targeted industries in this strategy.
She stated that there are two factories in the field of pharmaceutical manufacturing in the Kingdom in the Bahrain International Investment Zone in Salman Industrial City. The Ministry is also working to develop the infrastructure of other industrial areas and prepare them to keep pace with the requirements of industrial investments in all sectors, including pharmaceutical industries. The Ministry is working, in cooperation with a number of concerned authorities, to highlight the Kingdom of Bahrain’s advanced capabilities ready to encourage local and foreign industrial investments. To encourage investment in the industrial sector, including the pharmaceutical sector, ensure its sustainability and competitiveness, and attract investments in this sector. The Ministry affirmed its support for this important sector and providing spaces allocated for establishing relevant projects whenever demand becomes greater.
For its part, the Bahraini Pharmacists Association stated that the establishment of a pharmaceutical industrial zone in the Kingdom of Bahrain is considered a promising project, which aims to enhance local production of medicines, provide new job opportunities for Bahraini pharmacists, and open new markets for exports, in addition to enhancing investments in the health care sector and pharmaceutical industries.
