$30bn investment blueprint unveiled
BAHRAIN has launched a bold and ambitious plan to stimulate post-pandemic growth which will see more than $30 billion invested in national infrastructure and strategic priority sectors.
The new multi-year projects represent one of the kingdom’s most significant-ever injections of capital investment to drive the Economic Recovery Plan, said Deputy Prime Minister Shaikh Khalid bin Abdulla Al Khalifa.
He said the Strategic Projects Plan was designed at enhancing the long-term competitiveness of the nation’s economy, and will contribute towards the realisation of Bahrain’s Economic Vision 2030.
The 22 signature projects are spread across key sectors, including education, health, housing, infrastructure, telecommunications, tourism and sport, among others.
Shaikh Khalid, who is also Ministerial Committee for Development Projects and Infrastructure chairman, revealed details of the projects during a press briefing at the Arcapita headquarters in Bahrain Bay yesterday.
“The priority of implementation includes launching a package of strategic projects worth more than $30bn which consists of preparing general plans for five new cities as well as developing existing ones in addition to more than 20 projects that will contribute to the development of various sectors that will enhance Bahrain’s economic position and competitiveness,” he said.
“They aim to create promising opportunities for the people of the country as well as achieving sustainable growth in accordance with Bahrain’s Economic Vision 2030.
“The new projects announced under the Strategic Projects Plan will build upon the kingdom’s 2015 infrastructure plan – worth more than $32.5bn – which delivered the new Bahrain International Airport terminal, Alba’s Line 6 expansion project and the AB-4 Pipeline as well as the five housing towns – Salman Town, Khalifa Town, East Sitra Town, East Hidd Town and Al Ramli Housing Project.”
The briefing was also attended by Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa, Works, Municipalities Affairs and Urban Planning Minister Essam Khalaf, Housing Minister Bassem Al Hamar, Labour and Social Development Minister Jameel Humaidan, Transportation and Telecommunications Minister Kamal Ahmed, National Health Regulatory Authority (NHRA) chief executive Dr Mariam Al Jalahma and Mumtalakat chief executive Khalid Al Rumaihi.
“Bahrain is emerging from the pandemic with a bold ambition that looks beyond economic recovery to a more prosperous future,” said Shaikh Salman.
“This transformative investment will raise education and lifestyle opportunities for young people and provide quality healthcare, homes and career paths for them as they progress into adulthood.
“New and existing industries will be stimulated and private sector growth in the tourism and entertainment sectors will be driven forward by infrastructure and telecommunications investments with connectivity both within the kingdom and overseas elevated for the efficient movement of goods, services and people.
“The Strategic Projects Plan is an investment not only in Bahrain’s physical infrastructure but in the future prosperity of the kingdom’s people.”
Dr Al Jalahma said that two new hospitals are underway – the 200-bed Dilmunia Health Services Complex built over an area of 16,665sqm, and the 125-bed King Hamad American Mission Hospital in Aali which will derive 75 per cent of its power from solar panels.
“There is also the King Abdullah Medical City which includes academic and medical facilities in the Southern Governorate,” she added.
“The complex will also include research centres to study diseases prevalent in the region such as cancer, diabetes and obesity.
“The first phase includes an educational department consisting of eight floors and 300 beds as well as modern laboratories and an imaging centre while the second phase aims to expand to 500 beds in addition to a research wing and a conference hall.”
Source: https://www.gdnonline.com/Details/1014738/$30bn-investment-blueprint-unveiled
