Manama: Bahrain welcomes investments that contribute to boosting economic growth, said Minister of Industry, Commerce and Tourism Minister Zayed bin Rashid Al Zayani. The minister highlighted the package of facilities and incentives granted by the Government to bolster Bahrain’s standing as an investment destination. He stressed the importance of the strategy which launched recently and which aims to increase the contribution of the industrial sector in the Gross Domestic Product (GDP), boost exports, create rewarding jobs for citizens and support the transformation of this vital sector to enter the fourth industrial revolution.
Al Zayani made the statement he opened the Ascon Control W.L.L, owned by AMAD Group, in the presence of the Indian Ambassador to the Kingdom of Bahrain Piyush Srivastava. The inauguration ceremony which was held at Mazra Industrial Zone in Askar was also attended by AMED Group general manager Pambavasan Nair, Ascon Control W.L.L board members and other senior officials.
The minister commended the standard of the factory which is specialised in manufacturing electrical engines and generators and other power supply devices, which have been operating in Bahrain for 15 years. Built on a land covering 7150 square metres, the factory is also specialised in producing Electricity distribution and control devices and electrical contracting. The factory will manufacture an approximate quantity of 72,000-150,000 low voltage panels annually and the the production targets the Kingdom of Bahrain market and the Eastern Province of Saudi Arabia.
