NEW investments in artificial intelligence (AI) and robotics are set to be announced soon as business picks up and Bahrain gears up for post-pandemic recovery.
Industry, Commerce and Tourism Minister Zayed Alzayani said deals have already been signed to introduce new green industries to the kingdom.
He was speaking at a Press conference at the Four Seasons Hotel Bahrain Bay following the third meeting of the GCC Ministerial Committee for Standardisation.
“We have granted vast industrial plots across Bahrain to potential investors and have managed to sign several deals for new environmentally friendly industries,” Mr Alzayani said.
“More projects are on the way as we seek investments in artificial intelligence and robotics.
“The world is expected to fully recover from Covid-19 and return to normality by late 2022 or early 2023.
“All sectors in Bahrain have shown signs of recovery in the first and second quarter. Indicators for the third and fourth quarters are also positive as businesses regain composure.
“The worst is past us.
“Bahrain is on the right track with airline, hospitality and hotel sectors and other connected recreation and retail businesses improving.”
Mr Alzayani said shipping rates were expected to drop as trade flow increases.
“Bahrain is in a strategic location in the region and our aim is always to be a leader in logistics,” he said.
“Shipping charges have increased, but they will drop with more trade flow – the cost of logistics will eventually come in line with the size of imports and exports.”
He added that the Consumer Protection Law provides reassurance to buyers and sellers.
“Sellers who exaggerate prices or offer fake products will be punished according to the law,” he said.
mohammed@gdn.com.bh
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