The Ministry of Industry and Commerce, in cooperation with Mazad, has unveiled 8 facilities on industrial plots within its industrial zones, marking the fifth installment and the most extensive since the service agreement with Mazad was established in December 2020.
This initiative aims to provide investment opportunities through Mazad’s online platform to a broad range of investors to foster new industrial development projects.
This initiative aligns with the objectives of the Industrial Sector Strategy 2022-2026, focusing on driving economic growth and enhancing the industrial sector in Bahrain.
Abdullah bin Adel Fakhro, Minister of Industry and Commerce, praised the strategic collaboration with Mazad, which alignes with the government’s commitment to strengthening partnerships with the private sector by offering investment opportunities, specifically in the industrial sector, and contributing to national economic growth.
Five projects were previously allocated through auction for the purpose of initiating new industrial ventures spanning the circular economy, engineering, construction, and commercial activities, covering a combined area of 14,332 square meters.
Talal Arif Al Arifi, CEO of Mazad, highlighted the joint commitment to provide investors with innovative methods of investing in industrial facilities through electronic auctions, in accordance with the best international practices, to enhance transparency, justice and sustainability.
He noted that the latest industrial facilities offer a unique opportunity for individuals keen on investing in the industrial sector and engaging in auctions through the company’s platform.
The ministry invites those wishing to participate in the auction to submit their project proposal and obtain preliminary approval via https://service.moic.gov.bh/iad to qualify them to enter the bidding for the offered industrial facilities, as well as register through Mazad’s website (mazad.app) or mobile application (Mazad) to pay the security deposit and start bidding on the industrial facilities.
BNA(R)
